Charles River Laboratories International (NYSE:CRL) Stock Price Down 3.4% – What’s Next?

Charles River Laboratories International, Inc. (NYSE:CRL)’s stock price dropped 3.4% during mid-day trading on Thursday . The company traded as low as $164.55 and last traded at $167.95. Approximately 127,730 shares changed hands during trading, a decline of 82% from the average daily volume of 712,822 shares. The stock had previously closed at $173.88.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRL. Bank of America lowered their target price on Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. UBS Group reiterated a “neutral” rating and issued a $185.00 price target (down from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. The Goldman Sachs Group reduced their price target on Charles River Laboratories International from $220.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Redburn Atlantic upgraded Charles River Laboratories International from a “sell” rating to a “neutral” rating and set a $188.00 target price for the company in a research report on Monday, March 3rd. Finally, Robert W. Baird decreased their price target on Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Charles River Laboratories International currently has an average rating of “Hold” and a consensus price target of $191.31.

Charles River Laboratories International Stock Down 3.5 %

The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 1,117.84, 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 current ratio of 1.41 and a quick ratio of 1.14. The firm’s fifty day moving average price is $166.93 and its 200-day moving average price is $184.11.

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. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.63 million. During the same quarter in the prior year, the firm earned $2.46 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Birgit Girshick acquired 1,514 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost of $164.63 per share, with a total value of $249,249.82. Following the completion of the purchase, the chief operating officer now directly owns 55,058 shares in the company, valued at $9,064,198.54. The trade was a 2.83 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joseph W. Laplume sold 4,400 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $162.50, for a total transaction of $715,000.00. Following the sale, the executive vice president now directly owns 20,013 shares of the company’s stock, valued at $3,252,112.50. This 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 corporate insiders.

Institutional Investors Weigh In On Charles River Laboratories International

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Charles River Laboratories International by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,158,926 shares of the medical research company’s stock valued at $1,136,938,000 after buying an additional 60,497 shares during the period. Wellington Management Group LLP lifted its stake in shares of Charles River Laboratories International by 9.0% in the 4th quarter. Wellington Management Group LLP now owns 4,076,426 shares of the medical research company’s stock valued at $752,508,000 after purchasing an additional 335,658 shares during the period. State Street Corp boosted its position in shares of Charles River Laboratories International by 2.0% during the 3rd quarter. State Street Corp now owns 2,130,279 shares of the medical research company’s stock valued at $419,601,000 after purchasing an additional 41,421 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Charles River Laboratories International by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,808,002 shares of the medical research company’s stock worth $330,231,000 after purchasing an additional 47,221 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Charles River Laboratories International by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,233,211 shares of the medical research company’s stock worth $227,042,000 after buying an additional 14,787 shares in the last quarter. 98.91% of the stock is owned by institutional investors.

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).