Cinctive Capital Management LP Takes Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Cinctive Capital Management LP acquired a new position in Charles River Laboratories International, Inc. (NYSE:CRL) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 12,252 shares of the medical research company’s stock, valued at approximately $2,262,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Charles River Laboratories International by 1,071.4% in the 4th quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock worth $30,000 after purchasing an additional 150 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of Charles River Laboratories International by 52.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock valued at $35,000 after buying an additional 65 shares during the last quarter. Tortoise Investment Management LLC increased its holdings in Charles River Laboratories International by 77.7% in the 4th quarter. Tortoise Investment Management LLC now owns 263 shares of the medical research company’s stock worth $49,000 after buying an additional 115 shares in the last quarter. Huntington National Bank raised its position in Charles River Laboratories International by 120.6% in the 4th quarter. Huntington National Bank now owns 300 shares of the medical research company’s stock worth $55,000 after buying an additional 164 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Charles River Laboratories International during the 4th quarter valued at about $56,000. 98.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 4,400 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total value of $715,000.00. Following the transaction, the executive vice president now directly owns 20,013 shares of the company’s stock, valued at approximately $3,252,112.50. The trade was a 18.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Birgit Girshick purchased 1,514 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $164.63 per share, with a total value of $249,249.82. Following the completion of the purchase, the chief operating officer now directly owns 55,058 shares in the company, valued at $9,064,198.54. This trade represents a 2.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.

Charles River Laboratories International Trading Up 2.3 %

Charles River Laboratories International stock opened at $149.30 on Thursday. Charles River Laboratories International, Inc. has a 12-month low of $142.76 and a 12-month high of $264.71. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 995.33, a P/E/G ratio of 4.54 and a beta of 1.45. The firm has a 50 day moving average of $163.57 and a 200 day moving average of $181.69. 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 posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.16. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.63 million. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 earnings per share. As a group, research analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on CRL shares. The Goldman Sachs Group lowered shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $190.00 to $170.00 in a research note on Friday, March 21st. Citigroup raised shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $155.00 to $175.00 in a research report on Tuesday, March 4th. Morgan Stanley lowered their price target on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. UBS Group reaffirmed a “neutral” rating and issued a $185.00 price objective (down previously from $250.00) on shares of Charles River Laboratories International in a report on Friday, January 17th. Finally, Barclays lowered their target price on Charles River Laboratories International from $205.00 to $166.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to data from MarketBeat, the stock presently 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).