Confluence Investment Management LLC Takes Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Confluence Investment Management LLC purchased a new stake in Charles River Laboratories International, Inc. (NYSE:CRL) during the first quarter, according to its most recent filing with the SEC. The firm purchased 96,957 shares of the medical research company’s stock, valued at approximately $26,270,000. Confluence Investment Management LLC owned 0.19% of Charles River Laboratories International at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cardinal Capital Management increased its holdings in shares of Charles River Laboratories International by 0.6% in the 4th quarter. Cardinal Capital Management now owns 8,450 shares of the medical research company’s stock valued at $1,998,000 after acquiring an additional 47 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Charles River Laboratories International by 21.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 328 shares of the medical research company’s stock worth $78,000 after buying an additional 58 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Charles River Laboratories International by 5.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,126 shares of the medical research company’s stock worth $266,000 after buying an additional 61 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in Charles River Laboratories International by 45.1% during the 4th quarter. VisionPoint Advisory Group LLC now owns 209 shares of the medical research company’s stock worth $49,000 after buying an additional 65 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Charles River Laboratories International by 10.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 761 shares of the medical research company’s stock worth $149,000 after buying an additional 74 shares during the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRL has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Charles River Laboratories International in a research note on Thursday, June 6th. They set a “buy” rating and a $290.00 target price on the stock. Robert W. Baird lowered their price target on Charles River Laboratories International from $282.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Friday. Mizuho assumed coverage on Charles River Laboratories International in a research report on Friday, June 7th. They set a “neutral” rating and a $235.00 price target for the company. Finally, TheStreet raised Charles River Laboratories International from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Charles River Laboratories International currently has an average rating of “Moderate Buy” and an average target price of $256.38.

Insider Buying and Selling

In related news, EVP Joseph W. Laplume sold 1,304 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $226.97, for a total value of $295,968.88. Following the completion of the transaction, the executive vice president now owns 23,276 shares of the company’s stock, valued at approximately $5,282,953.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Charles River Laboratories International Stock Performance

Shares of CRL stock traded up $0.55 on Tuesday, hitting $208.96. The company had a trading volume of 96,266 shares, compared to its average volume of 546,733. The firm has a market cap of $10.76 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 1.98 and a beta of 1.40. The company has a 50-day moving average price of $225.51 and a 200-day moving average price of $232.50. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.73. Charles River Laboratories International, Inc. has a twelve month low of $161.65 and a twelve month high of $275.00.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Thursday, May 9th. The medical research company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.22. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $997.24 million. Charles River Laboratories International had a return on equity of 15.16% and a net margin of 10.81%. As a group, equities research analysts predict that Charles River Laboratories International, Inc. will post 11 earnings per share for the current fiscal year.

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).