Brown Advisory Inc. Cuts Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Brown Advisory Inc. trimmed its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 84.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,219 shares of the medical research company’s stock after selling 12,506 shares during the period. Brown Advisory Inc.’s holdings in Charles River Laboratories International were worth $334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pekin Hardy Strauss Inc. acquired a new stake in Charles River Laboratories International in the first quarter worth about $3,521,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Charles River Laboratories International during the first quarter worth approximately $213,000. HM Payson & Co. acquired a new position in Charles River Laboratories International during the first quarter worth $31,000. IFM Investors Pty Ltd boosted its stake in Charles River Laboratories International by 8.7% during the first quarter. IFM Investors Pty Ltd now owns 9,385 shares of the medical research company’s stock worth $1,413,000 after buying an additional 755 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Charles River Laboratories International in the 1st quarter valued at $1,231,000. 98.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CRL shares. Robert W. Baird upped their price target on Charles River Laboratories International from $118.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Evercore ISI raised their price target on Charles River Laboratories International from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Mizuho lowered their price target on Charles River Laboratories International from $175.00 to $155.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Redburn Atlantic upgraded Charles River Laboratories International from a “neutral” rating to a “buy” rating and cut their price target for the stock from $188.00 to $182.00 in a research note on Friday, May 23rd. Finally, TD Cowen raised Charles River Laboratories International from a “hold” rating to a “buy” rating and set a $179.00 target price for the company in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Charles River Laboratories International currently has an average rating of “Hold” and an average target price of $174.54.

Charles River Laboratories International Price Performance

CRL opened at $154.36 on Wednesday. The stock has a fifty day moving average of $146.43 and a 200-day moving average of $151.17. The firm has a market capitalization of $7.58 billion, a P/E ratio of -237.48, a PEG ratio of 5.35 and a beta of 1.49. Charles River Laboratories International, Inc. has a 12-month low of $91.86 and a 12-month high of $254.15. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.78.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.28. The business had revenue of $984.17 million for the quarter, compared to the consensus estimate of $942.34 million. Charles River Laboratories International had a negative net margin of 0.66% and a positive return on equity of 15.19%. Charles River Laboratories International’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.27 earnings per share. Equities analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Joseph W. Laplume sold 500 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $145.41, for a total value of $72,705.00. Following the sale, the executive vice president directly owned 19,513 shares of the company’s stock, valued at approximately $2,837,385.33. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

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).