Sequoia Financial Advisors LLC Raises Position in Charles River Laboratories International, Inc. $CRL

Sequoia Financial Advisors LLC raised its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 95.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,432 shares of the medical research company’s stock after acquiring an additional 1,677 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Charles River Laboratories International were worth $521,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CRL. Goldman Sachs Group Inc. lifted its position in shares of Charles River Laboratories International by 407.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 997,488 shares of the medical research company’s stock worth $150,142,000 after purchasing an additional 800,762 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Charles River Laboratories International by 29.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,291,126 shares of the medical research company’s stock worth $353,750,000 after acquiring an additional 516,521 shares in the last quarter. Royal Bank of Canada raised its stake in Charles River Laboratories International by 304.7% during the 1st quarter. Royal Bank of Canada now owns 627,710 shares of the medical research company’s stock worth $94,484,000 after acquiring an additional 472,606 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Charles River Laboratories International by 144.3% during the 1st quarter. Ameriprise Financial Inc. now owns 544,825 shares of the medical research company’s stock worth $82,007,000 after acquiring an additional 321,789 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Charles River Laboratories International by 5.1% in the first quarter. Wellington Management Group LLP now owns 4,285,012 shares of the medical research company’s stock valued at $644,980,000 after purchasing an additional 208,586 shares during the period. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Price Performance

CRL opened at $184.10 on Tuesday. The company has a fifty day simple moving average of $161.55 and a 200 day simple moving average of $148.67. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of -138.42, a PEG ratio of 4.77 and a beta of 1.50. Charles River Laboratories International, Inc. has a twelve month low of $91.86 and a twelve month high of $230.02. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.62. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $983.76 million. During the same period in the prior year, the firm posted $2.80 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insider Activity

In other news, EVP Joseph W. Laplume sold 800 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the transaction, the executive vice president directly owned 24,116 shares in the company, valued at approximately $3,800,681.60. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CRL shares. William Blair upgraded shares of Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a research note on Monday, October 6th. Citigroup raised shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and upped their price target for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Evercore ISI upped their price objective on shares of Charles River Laboratories International from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Barclays raised shares of Charles River Laboratories International from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $165.00 to $195.00 in a research note on Thursday, October 2nd. Finally, Mizuho increased their price target on shares of Charles River Laboratories International from $155.00 to $174.00 and gave the stock a “neutral” rating in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Charles River Laboratories International presently has a consensus rating of “Hold” and an average target price of $181.29.

Charles River Laboratories International 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).