Charles River Laboratories International, Inc. (NYSE:CRL) Short Interest Up 26.3% in February

Charles River Laboratories International, Inc. (NYSE:CRL) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,930,000 shares, a growth of 26.3% from the February 13th total of 2,320,000 shares. Currently, 5.8% of the shares of the company are sold short. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is currently 2.9 days.

Charles River Laboratories International Price Performance

NYSE:CRL traded up $3.98 during mid-day trading on Monday, reaching $175.02. The stock had a trading volume of 1,013,270 shares, compared to its average volume of 710,653. Charles River Laboratories International has a one year low of $150.79 and a one year high of $274.77. 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 firm has a 50 day moving average price of $167.46 and a two-hundred day moving average price of $184.33. The stock has a market capitalization of $8.95 billion, a P/E ratio of 1,166.77, a P/E/G ratio of 4.54 and a beta of 1.45.

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, beating the consensus estimate of $2.50 by $0.16. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.63 million. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 EPS. As a group, analysts expect that Charles River Laboratories International will post 9.36 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Joseph W. Laplume sold 4,400 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 20,013 shares of the company’s stock, valued at $3,252,112.50. The trade was a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Birgit Girshick acquired 1,514 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $164.63 per share, with a total value of $249,249.82. Following the completion of the acquisition, the chief operating officer now owns 55,058 shares in the company, valued at $9,064,198.54. This trade represents a 2.83 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Charles River Laboratories International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in shares of Charles River Laboratories International by 1,071.4% during the fourth quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 150 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in Charles River Laboratories International by 52.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock worth $35,000 after buying an additional 65 shares during the period. Assetmark Inc. lifted its holdings in Charles River Laboratories International by 1,153.3% in the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after buying an additional 173 shares during the period. Optiver Holding B.V. bought a new stake in shares of Charles River Laboratories International in the 4th quarter worth approximately $37,000. Finally, GeoWealth Management LLC increased its stake in shares of Charles River Laboratories International by 311.5% during the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company’s stock valued at $46,000 after buying an additional 190 shares during the period. Institutional investors own 98.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CRL shares. William Blair cut Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 22nd. Barclays cut their price objective on shares of Charles River Laboratories International from $205.00 to $166.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. UBS Group reaffirmed a “neutral” rating and set a $185.00 target price (down previously from $250.00) on shares of Charles River Laboratories International in a report on Friday, January 17th. CLSA cut shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a research note on Monday, November 18th. Finally, Morgan Stanley reduced their price target on shares of Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $198.36.

About Charles River Laboratories International

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).