Charles River Laboratories International, Inc. (NYSE:CRL) Shares Sold by Korea Investment CORP

Korea Investment CORP cut its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 61.6% in the fourth quarter, HoldingsChannel reports. The fund owned 26,304 shares of the medical research company’s stock after selling 42,200 shares during the period. Korea Investment CORP’s holdings in Charles River Laboratories International were worth $4,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of CRL. Vanguard Group Inc. lifted its stake in shares of Charles River Laboratories International by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,158,926 shares of the medical research company’s stock valued at $1,136,938,000 after purchasing an additional 60,497 shares during the period. Wellington Management Group LLP increased its holdings in Charles River Laboratories International by 135,927.9% in the third quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company’s stock valued at $736,819,000 after buying an additional 3,738,018 shares in the last quarter. State Street Corp raised its position in shares of Charles River Laboratories International by 2.0% in the third quarter. State Street Corp now owns 2,130,279 shares of the medical research company’s stock worth $419,601,000 after acquiring an additional 41,421 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Charles River Laboratories International by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,808,002 shares of the medical research company’s stock worth $330,231,000 after acquiring an additional 47,221 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Charles River Laboratories International by 6.1% during the 4th quarter. Sei Investments Co. now owns 673,868 shares of the medical research company’s stock valued at $124,394,000 after acquiring an additional 38,827 shares during the period. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays lowered their price target on Charles River Laboratories International from $205.00 to $166.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Redburn Atlantic raised shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and set a $188.00 price target on the stock in a research note on Monday, March 3rd. William Blair cut shares of Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $190.00 to $170.00 in a report on Friday, March 21st. Finally, Robert W. Baird cut their target price on shares of Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $189.77.

Insiders Place Their Bets

In other Charles River Laboratories International news, CEO James C. Foster bought 6,075 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was bought at an average price of $165.01 per share, with a total value of $1,002,435.75. Following the completion of the purchase, the chief executive officer now directly owns 183,639 shares in the company, valued at $30,302,271.39. The trade was a 3.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph W. Laplume sold 4,400 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $162.50, for a total value of $715,000.00. Following the completion of the transaction, the executive vice president now directly owns 20,013 shares in the company, valued at approximately $3,252,112.50. This trade represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Charles River Laboratories International Price Performance

NYSE:CRL opened at $150.58 on Tuesday. Charles River Laboratories International, Inc. has a one year low of $146.64 and a one year high of $273.32. The stock has a market cap of $7.70 billion, a PE ratio of 1,003.89, a P/E/G ratio of 4.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.14 and a current ratio of 1.41. The stock has a 50 day moving average price of $164.43 and a 200 day moving average price of $182.29.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.16. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.63 million. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the company earned $2.46 EPS. Equities research analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Charles River Laboratories International Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).