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

Confluence Investment Management LLC trimmed its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 93,004 shares of the medical research company’s stock after selling 1,955 shares during the quarter. Confluence Investment Management LLC owned approximately 0.18% of Charles River Laboratories International worth $17,169,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRL. Natixis Advisors LLC grew its stake in Charles River Laboratories International by 12.3% in the 2nd quarter. Natixis Advisors LLC now owns 88,453 shares of the medical research company’s stock valued at $18,273,000 after acquiring an additional 9,664 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Charles River Laboratories International by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 88,286 shares of the medical research company’s stock worth $18,238,000 after purchasing an additional 1,245 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of Charles River Laboratories International by 77.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after purchasing an additional 57 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Charles River Laboratories International by 1.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,424 shares of the medical research company’s stock valued at $914,000 after buying an additional 45 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in Charles River Laboratories International in the 2nd quarter valued at approximately $2,825,000. Institutional investors and hedge funds own 98.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group raised their price target on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird lowered their price target on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Citigroup downgraded shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $215.00 to $175.00 in a research note on Tuesday, October 1st. Finally, Evercore ISI lifted their target price on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Charles River Laboratories International presently has an average rating of “Hold” and a consensus target price of $214.00.

Charles River Laboratories International Trading Up 0.2 %

NYSE:CRL traded up $0.33 on Thursday, hitting $184.93. 93,619 shares of the stock were exchanged, compared to its average volume of 614,432. The stock has a fifty day moving average of $192.76 and a 200-day moving average of $200.59. The stock has a market cap of $9.46 billion, a PE ratio of 23.15, a PEG ratio of 5.00 and a beta of 1.38. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. Charles River Laboratories International, Inc. has a fifty-two week low of $176.48 and a fifty-two week high of $275.00.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.72 EPS. As a group, equities analysts expect that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard F. Wallman sold 6,621 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the sale, the director now owns 12,386 shares of the company’s stock, valued at $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Charles River Laboratories International 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).