Spire Wealth Management Lowers Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Posted by Defense World Staff on Aug 20th, 2023

Spire Wealth Management reduced its position in Charles River Laboratories International, Inc. (NYSE:CRL – Free Report) by 25.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,236 shares of the medical research company’s stock after selling 427 shares during the period. Spire Wealth Management’s holdings in Charles River Laboratories International were worth $249,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in shares of Charles River Laboratories International in the first quarter worth about $25,000. Desjardins Global Asset Management Inc. purchased a new stake in shares of Charles River Laboratories International in the first quarter worth about $30,000. HighMark Wealth Management LLC purchased a new stake in shares of Charles River Laboratories International in the first quarter worth about $45,000. Covestor Ltd lifted its position in shares of Charles River Laboratories International by 100.0% in the first quarter. Covestor Ltd now owns 174 shares of the medical research company’s stock worth $49,000 after buying an additional 87 shares in the last quarter. Finally, Edge Capital Group LLC purchased a new stake in Charles River Laboratories International during the fourth quarter valued at approximately $50,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Down 0.5 %

Shares of NYSE:CRL opened at $198.90 on Friday. Charles River Laboratories International, Inc. has a 52-week low of $181.22 and a 52-week high of $262.00. The stock has a market cap of $10.20 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 1.79 and a beta of 1.33. The business’s 50 day moving average is $207.84 and its 200 day moving average is $208.40. The company has a quick ratio of 1.21, a current ratio of 1.49 and a debt-to-equity ratio of 0.82.

Charles River Laboratories International (NYSE:CRL – Get Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The medical research company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.06. Charles River Laboratories International had a return on equity of 18.99% and a net margin of 11.58%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $2.77 earnings per share. Charles River Laboratories International’s revenue was up 8.9% compared to the same quarter last year. Sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.5 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Charles River Laboratories International from $260.00 to $250.00 in a research report on Friday, May 12th. JPMorgan Chase & Co. upped their price objective on Charles River Laboratories International from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Wells Fargo & Company decreased their price objective on Charles River Laboratories International from $290.00 to $280.00 in a research report on Friday, May 12th. TheStreet downgraded Charles River Laboratories International from a “b-” rating to a “c” rating in a research report on Thursday, May 11th. Finally, StockNews.com started coverage on Charles River Laboratories International in a research report on Thursday. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $247.80.

Get Our Latest Research Report on Charles River Laboratories International

Insider Buying and Selling

In related news, CAO Michael Gunnar Knell sold 1,471 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $216.54, for a total value of $318,530.34. Following the transaction, the chief accounting officer now owns 9,940 shares of the company’s stock, valued at $2,152,407.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Charles River Laboratories International news, VP William D. Barbo sold 5,763 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $217.24, for a total transaction of $1,251,954.12. Following the sale, the vice president now owns 3,592 shares of the company’s stock, valued at approximately $780,326.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Gunnar Knell sold 1,471 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $216.54, for a total value of $318,530.34. Following the sale, the chief accounting officer now directly owns 9,940 shares in the company, valued at approximately $2,152,407.60. The disclosure for this sale can be found here. Insiders have sold a total of 7,934 shares of company stock valued at $1,722,048 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Charles River Laboratories International Company Profile

(Free Report)

Charles River Laboratories International, Inc, a non-clinical contract research organization, 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).