Neuberger Berman Group LLC Trims Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Neuberger Berman Group LLC trimmed its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 11.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 369,226 shares of the medical research company’s stock after selling 46,454 shares during the period. Neuberger Berman Group LLC’s holdings in Charles River Laboratories International were worth $135,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Centerpoint Advisors LLC increased its stake in shares of Charles River Laboratories International by 60.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 80 shares of the medical research company’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Fred Alger Management LLC purchased a new stake in Charles River Laboratories International in the 1st quarter worth $26,000. Huntington National Bank increased its stake in Charles River Laboratories International by 45.1% in the 2nd quarter. Huntington National Bank now owns 177 shares of the medical research company’s stock worth $65,000 after buying an additional 55 shares in the last quarter. Fifth Third Bancorp increased its stake in Charles River Laboratories International by 46.2% in the 2nd quarter. Fifth Third Bancorp now owns 231 shares of the medical research company’s stock worth $85,000 after buying an additional 73 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Charles River Laboratories International by 37.9% in the 2nd quarter. Parallel Advisors LLC now owns 240 shares of the medical research company’s stock worth $89,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 93.28% of the company’s stock.

A number of brokerages have issued reports on CRL. Evercore ISI reiterated a “buy” rating on shares of Charles River Laboratories International in a research note on Thursday. Argus increased their price target on Charles River Laboratories International from $390.00 to $480.00 and gave the stock a “buy” rating in a research note on Monday, August 23rd. Wells Fargo & Company increased their price target on Charles River Laboratories International from $375.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. Credit Suisse Group increased their price target on Charles River Laboratories International from $385.00 to $420.00 and gave the stock a “neutral” rating in a research note on Thursday, August 5th. Finally, UBS Group raised their price objective on Charles River Laboratories International from $390.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, August 17th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $400.79.

In other Charles River Laboratories International news, VP Birgit Girshick sold 81 shares of the firm’s stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $442.19, for a total value of $35,817.39. Following the completion of the sale, the vice president now owns 30,025 shares of the company’s stock, valued at $13,276,754.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph W. Laplume sold 3,700 shares of the firm’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $402.21, for a total transaction of $1,488,177.00. The disclosure for this sale can be found here. In the last three months, insiders sold 40,900 shares of company stock valued at $16,673,320. 1.20% of the stock is owned by insiders.

Shares of NYSE:CRL opened at $402.83 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.17. Charles River Laboratories International, Inc. has a 12 month low of $219.79 and a 12 month high of $460.21. The company has a 50-day moving average price of $426.80 and a 200 day moving average price of $374.84. The company has a market cap of $20.30 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 3.07 and a beta of 1.14.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Tuesday, August 3rd. The medical research company reported $2.61 EPS for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.23. Charles River Laboratories International had a net margin of 12.10% and a return on equity of 23.59%. The firm had revenue of $914.61 million during the quarter, compared to the consensus estimate of $880.72 million. During the same quarter last year, the firm earned $1.58 EPS. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, equities analysts forecast that Charles River Laboratories International, Inc. will post 10.25 EPS for the current year.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc is an early-stage contract research company, which provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and academic institutions. It operates through the following segments: Research Models & Services, Discovery & Safety Assessment and Manufacturing Support.

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Institutional Ownership by Quarter for Charles River Laboratories International (NYSE:CRL)

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