Geode Capital Management LLC Raises Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Geode Capital Management LLC boosted its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,233,211 shares of the medical research company’s stock after acquiring an additional 14,787 shares during the quarter. Geode Capital Management LLC’s holdings in Charles River Laboratories International were worth $227,042,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CRL. Vanguard Group Inc. grew its stake in Charles River Laboratories International by 1.0% during 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 acquiring an additional 60,497 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Charles River Laboratories International by 9.0% during 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 in the last quarter. State Street Corp increased its holdings in shares of Charles River Laboratories International by 2.0% in the third quarter. State Street Corp now owns 2,130,279 shares of the medical research company’s stock worth $419,601,000 after purchasing an additional 41,421 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of 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 buying an additional 47,221 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Charles River Laboratories International by 6.1% during the fourth quarter. Sei Investments Co. now owns 673,868 shares of the medical research company’s stock valued at $124,394,000 after buying an additional 38,827 shares during the period. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Insider Activity

In other news, EVP Joseph W. Laplume sold 4,400 shares of Charles River Laboratories International 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 completion of the transaction, the executive vice president now directly owns 20,013 shares in the company, valued at approximately $3,252,112.50. This trade represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James C. Foster purchased 6,075 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $165.01 per share, for a total transaction of $1,002,435.75. Following the purchase, the chief executive officer now directly owns 183,639 shares in the company, valued at $30,302,271.39. The trade was a 3.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.

Charles River Laboratories International Stock Performance

Shares of NYSE:CRL opened at $136.95 on Friday. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 912.99, a price-to-earnings-growth ratio of 4.54 and a beta of 1.45. Charles River Laboratories International, Inc. has a 12 month low of $132.99 and a 12 month high of $258.56. The company has a 50-day moving average price of $162.49 and a 200-day moving average price of $180.77. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 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 company had revenue of $1 billion during the quarter, compared to analyst estimates of $983.63 million. During the same quarter last year, the firm posted $2.46 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CRL shares. Citigroup upgraded Charles River Laboratories International from a “sell” rating to a “neutral” rating and upped their target price for the stock from $155.00 to $175.00 in a research note on Tuesday, March 4th. Robert W. Baird lowered their target price on shares of Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. UBS Group reissued a “neutral” rating and issued a $185.00 price target (down previously from $250.00) on shares of Charles River Laboratories International in a research note on Friday, January 17th. The Goldman Sachs Group downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $190.00 to $170.00 in a report on Friday, March 21st. Finally, Morgan Stanley dropped their target price on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating and sixteen have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $189.77.

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).