Brown Advisory Inc. Has $79.12 Million Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Brown Advisory Inc. trimmed its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRLGet Rating) by 56.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 275,404 shares of the medical research company’s stock after selling 363,731 shares during the period. Brown Advisory Inc. owned about 0.55% of Charles River Laboratories International worth $79,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. bought a new position in Charles River Laboratories International in the fourth quarter valued at $27,000. MUFG Americas Holdings Corp bought a new position in Charles River Laboratories International in the fourth quarter valued at $30,000. Covestor Ltd bought a new position in Charles River Laboratories International in the fourth quarter valued at $33,000. Institutional & Family Asset Management LLC bought a new position in Charles River Laboratories International in the fourth quarter valued at $40,000. Finally, Quent Capital LLC bought a new position in Charles River Laboratories International in the fourth quarter valued at $44,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CRL shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Charles River Laboratories International from $350.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. KeyCorp decreased their price objective on shares of Charles River Laboratories International from $390.00 to $300.00 in a research report on Thursday, May 5th. Guggenheim initiated coverage on shares of Charles River Laboratories International in a research report on Monday, May 23rd. They issued a “neutral” rating for the company. They noted that the move was a valuation call. Wells Fargo & Company decreased their price objective on shares of Charles River Laboratories International from $390.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. Finally, Morgan Stanley downgraded shares of Charles River Laboratories International from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $350.00 to $250.00 in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Charles River Laboratories International has a consensus rating of “Moderate Buy” and a consensus price target of $355.64.

Charles River Laboratories International Price Performance

Shares of Charles River Laboratories International stock opened at $223.38 on Friday. Charles River Laboratories International, Inc. has a twelve month low of $203.37 and a twelve month high of $460.21. The company has a quick ratio of 1.12, a current ratio of 1.33 and a debt-to-equity ratio of 1.13. The company has a 50-day simple moving average of $226.08 and a two-hundred day simple moving average of $261.94. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.48 and a beta of 1.29.

Charles River Laboratories International (NYSE:CRLGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The medical research company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.03. Charles River Laboratories International had a net margin of 12.02% and a return on equity of 21.51%. The business had revenue of $973.13 million during the quarter, compared to analysts’ expectations of $995.12 million. During the same quarter in the previous year, the company earned $2.61 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Analysts forecast that Charles River Laboratories International, Inc. will post 10.98 EPS for the current year.

Insiders Place Their Bets

In other news, Director George Massaro sold 178 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $230.96, for a total value of $41,110.88. Following the completion of the transaction, the director now directly owns 4,677 shares in the company, valued at approximately $1,080,199.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Charles River Laboratories International Profile

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Charles River Laboratories International, Inc, a non-clinical contract research organization, 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).

Further Reading

Institutional Ownership by Quarter for Charles River Laboratories International (NYSE:CRL)

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