Charles River Laboratories International (NYSE:CRL) Stock Price Up 3.9% on Insider Buying Activity

Charles River Laboratories International, Inc. (NYSE:CRL)’s share price rose 3.9% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $172.45 and last traded at $169.45. Approximately 274,567 shares changed hands during trading, a decline of 73% from the average daily volume of 1,035,599 shares. The stock had previously closed at $163.02.

Specifically, COO Birgit Girshick purchased 1,514 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $164.63 per share, for a total transaction 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 represents a 2.83 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James C. Foster bought 6,075 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $165.01 per share, for a total transaction of $1,002,435.75. Following the completion of the transaction, the chief executive officer now owns 183,639 shares of the company’s stock, valued at $30,302,271.39. This represents a 3.42 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRL shares. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. UBS Group reiterated a “neutral” rating and set a $185.00 target price (down from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. Robert W. Baird decreased their target price on Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating on the stock in a research report on Thursday. CLSA downgraded Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a research report on Monday, November 18th. Finally, Evercore ISI boosted their target price on Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $195.71.

Charles River Laboratories International Price Performance

The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 1,136.79, a price-to-earnings-growth ratio of 4.54 and a beta of 1.37. The company has a 50 day moving average of $172.84 and a 200 day moving average of $188.00. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, February 19th. The medical research company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.50 by $0.16. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $983.63 million. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 earnings per share. As a group, equities research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Charles River Laboratories International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Charles River Laboratories International by 1,071.4% during the fourth quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock worth $30,000 after acquiring an additional 150 shares during the last quarter. Pinnacle Bancorp Inc. increased its holdings in Charles River Laboratories International by 52.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock worth $35,000 after purchasing an additional 65 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Charles River Laboratories International by 1,153.3% in the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 173 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of Charles River Laboratories International in the 4th quarter valued at approximately $37,000. Finally, GeoWealth Management LLC increased its holdings in shares of Charles River Laboratories International by 311.5% in the 4th quarter. GeoWealth Management LLC now owns 251 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 190 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Charles River Laboratories International Company 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).