CIBC Private Wealth Group LLC Lowers Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

CIBC Private Wealth Group LLC trimmed its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 91.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,597 shares of the medical research company’s stock after selling 139,870 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Charles River Laboratories International were worth $2,555,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Fiduciary Financial Group LLC lifted its position in Charles River Laboratories International by 3.9% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,665 shares of the medical research company’s stock worth $310,000 after acquiring an additional 63 shares during the period. Pinnacle Bancorp Inc. raised its stake in shares of Charles River Laboratories International by 52.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock worth $35,000 after purchasing an additional 65 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Charles River Laboratories International by 3.4% during the third quarter. M&T Bank Corp now owns 2,001 shares of the medical research company’s stock worth $394,000 after purchasing an additional 66 shares during the period. Cornerstone Investment Partners LLC grew its position in Charles River Laboratories International by 3.7% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,940 shares of the medical research company’s stock valued at $358,000 after buying an additional 69 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in Charles River Laboratories International by 4.4% during the 4th quarter. Metis Global Partners LLC now owns 1,720 shares of the medical research company’s stock worth $318,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Insider Buying and Selling

In related news, COO Birgit Girshick purchased 1,514 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $164.63 per share, with a total value of $249,249.82. Following the completion of the transaction, the chief operating officer now owns 55,058 shares of the company’s stock, valued at approximately $9,064,198.54. This trade represents a 2.83 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James C. Foster purchased 6,075 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was bought at an average price of $165.01 per share, for a total transaction of $1,002,435.75. Following the acquisition, the chief executive officer now 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 disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CRL has been the topic of several analyst reports. William Blair lowered shares of Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their target price on Charles River Laboratories International from $175.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Citigroup upgraded shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and increased their price target for the company from $155.00 to $175.00 in a report on Tuesday, March 4th. Bank of America reduced their price target on shares of Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Finally, Redburn Atlantic upgraded Charles River Laboratories International from a “sell” rating to a “neutral” rating and set a $188.00 price target on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $189.77.

Charles River Laboratories International Price Performance

Charles River Laboratories International stock opened at $149.30 on Thursday. The firm’s 50-day moving average is $163.57 and its two-hundred day moving average is $181.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.14. The stock has a market capitalization of $7.63 billion, a P/E ratio of 995.33, a P/E/G ratio of 4.54 and a beta of 1.45. Charles River Laboratories International, Inc. has a 12-month low of $142.76 and a 12-month high of $264.71.

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

Charles River Laboratories International Company 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).