Short Interest in Charles River Laboratories International, Inc. (NYSE:CRL) Drops By 8.4%

Charles River Laboratories International, Inc. (NYSE:CRLGet Rating) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,200,000 shares, a drop of 8.4% from the October 15th total of 1,310,000 shares. Based on an average daily volume of 588,400 shares, the short-interest ratio is currently 2.0 days.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRL. Morgan Stanley cut their target price on Charles River Laboratories International from $250.00 to $241.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 3rd. Evercore ISI cut their target price on Charles River Laboratories International to $260.00 in a research note on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft cut their target price on Charles River Laboratories International from $290.00 to $270.00 in a research note on Monday, August 8th. Credit Suisse Group dropped their price objective on Charles River Laboratories International from $285.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. Finally, Jefferies Financial Group raised Charles River Laboratories International from a “hold” rating to a “buy” rating and set a $240.00 price objective on the stock in a research note on Thursday, September 29th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $298.42.

Charles River Laboratories International Stock Performance

Shares of NYSE CRL opened at $237.53 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.40 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.57 and a beta of 1.28. The stock’s fifty day simple moving average is $209.45 and its 200 day simple moving average is $219.47. Charles River Laboratories International has a 52-week low of $181.36 and a 52-week high of $396.14.

Insider Buying and Selling

In related news, EVP Joseph W. Laplume sold 534 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $216.36, for a total value of $115,536.24. Following the sale, the executive vice president now owns 20,232 shares of the company’s stock, valued at approximately $4,377,395.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Charles River Laboratories International news, CAO Michael Gunnar Knell sold 855 shares of Charles River Laboratories International stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $248.59, for a total transaction of $212,544.45. Following the sale, the chief accounting officer now owns 6,438 shares of the company’s stock, valued at approximately $1,600,422.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph W. Laplume sold 534 shares of Charles River Laboratories International stock in a transaction on Friday, November 4th. The shares were sold at an average price of $216.36, for a total value of $115,536.24. Following the sale, the executive vice president now directly owns 20,232 shares in the company, valued at approximately $4,377,395.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,668 shares of company stock valued at $897,603. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Charles River Laboratories International

A number of hedge funds have recently modified their holdings of CRL. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Charles River Laboratories International by 8.5% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,092 shares of the medical research company’s stock valued at $7,977,000 after buying an additional 2,197 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of Charles River Laboratories International during the second quarter valued at $3,380,000. Illinois Municipal Retirement Fund grew its holdings in shares of Charles River Laboratories International by 66.7% during the second quarter. Illinois Municipal Retirement Fund now owns 5,727 shares of the medical research company’s stock valued at $1,225,000 after buying an additional 2,291 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Charles River Laboratories International by 7.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,535 shares of the medical research company’s stock valued at $1,826,000 after buying an additional 602 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Charles River Laboratories International by 30.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 36,018 shares of the medical research company’s stock valued at $10,228,000 after buying an additional 8,367 shares in the last quarter. 95.20% of the stock is currently owned by institutional investors and hedge funds.

Charles River Laboratories International Company Profile

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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).

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