Bank of America Corp DE Cuts Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Bank of America Corp DE lowered its position in shares of Charles River Laboratories International, Inc. (NYSE:CRLGet Rating) by 5.2% in the first quarter, Holdings Channel reports. The institutional investor owned 506,477 shares of the medical research company’s stock after selling 27,647 shares during the period. Bank of America Corp DE’s holdings in Charles River Laboratories International were worth $143,823,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Walleye Capital LLC raised its position in Charles River Laboratories International by 44.5% during the 1st quarter. Walleye Capital LLC now owns 44,323 shares of the medical research company’s stock worth $12,586,000 after buying an additional 13,642 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Charles River Laboratories International by 98.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,273 shares of the medical research company’s stock worth $930,000 after buying an additional 1,621 shares during the last quarter. Toroso Investments LLC raised its position in Charles River Laboratories International by 15.1% during the 1st quarter. Toroso Investments LLC now owns 1,159 shares of the medical research company’s stock worth $329,000 after buying an additional 152 shares during the last quarter. Gabelli Funds LLC increased its holdings in shares of Charles River Laboratories International by 127.3% in the 1st quarter. Gabelli Funds LLC now owns 12,500 shares of the medical research company’s stock valued at $3,550,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Continuum Advisory LLC increased its holdings in shares of Charles River Laboratories International by 121.1% in the 1st quarter. Continuum Advisory LLC now owns 1,426 shares of the medical research company’s stock valued at $344,000 after purchasing an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 95.20% of the company’s stock.

Charles River Laboratories International Price Performance

Charles River Laboratories International stock opened at $184.83 on Friday. Charles River Laboratories International, Inc. has a 12-month low of $183.23 and a 12-month high of $460.21. The stock has a market capitalization of $9.40 billion, a P/E ratio of 21.44, a P/E/G ratio of 1.29 and a beta of 1.35. The firm’s 50-day moving average is $217.84 and its two-hundred day moving average is $237.84. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.33 and a quick ratio of 1.08.

Charles River Laboratories International (NYSE:CRLGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The medical research company reported $2.77 earnings per share (EPS) 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 company had revenue of $973.13 million for the quarter, compared to analysts’ expectations of $995.12 million. During the same period last year, the company earned $2.61 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts predict that Charles River Laboratories International, Inc. will post 10.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 200 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $226.13, for a total value of $45,226.00. Following the sale, the executive vice president now directly owns 20,766 shares of the company’s stock, valued at $4,695,815.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CRL shares. Stephens set a $315.00 price target on shares of Charles River Laboratories International in a report on Monday, June 20th. Wells Fargo & Company cut their price target on shares of Charles River Laboratories International from $325.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, August 16th. Credit Suisse Group started coverage on shares of Charles River Laboratories International in a report on Wednesday, August 24th. They issued an “outperform” rating and a $285.00 price target for the company. Evercore ISI cut their price target on shares of Charles River Laboratories International to $260.00 in a report on Tuesday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Charles River Laboratories International from $290.00 to $270.00 in a report on Monday, August 8th. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $317.67.

Charles River Laboratories International Company Profile

(Get Rating)

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).

Featured Stories

Want to see what other hedge funds are holding CRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles River Laboratories International, Inc. (NYSE:CRLGet Rating).

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

Receive News & Ratings for Charles River Laboratories International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles River Laboratories International and related companies with MarketBeat.com's FREE daily email newsletter.