Franklin Resources Inc. Decreases Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Franklin Resources Inc. reduced its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 763,015 shares of the medical research company’s stock after selling 18,486 shares during the quarter. Franklin Resources Inc. owned approximately 1.49% of Charles River Laboratories International worth $180,377,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Charles River Laboratories International by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,953,860 shares of the medical research company’s stock worth $1,166,837,000 after buying an additional 29,482 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Charles River Laboratories International by 3.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,746,101 shares of the medical research company’s stock worth $342,201,000 after purchasing an additional 64,981 shares in the last quarter. Ariel Investments LLC boosted its stake in Charles River Laboratories International by 1.8% in the 3rd quarter. Ariel Investments LLC now owns 1,066,600 shares of the medical research company’s stock worth $209,032,000 after purchasing an additional 18,760 shares in the last quarter. Invesco Ltd. boosted its stake in Charles River Laboratories International by 8.9% in the 3rd quarter. Invesco Ltd. now owns 927,895 shares of the medical research company’s stock worth $181,849,000 after purchasing an additional 75,978 shares in the last quarter. Finally, FMR LLC boosted its stake in Charles River Laboratories International by 1.5% in the 3rd quarter. FMR LLC now owns 905,355 shares of the medical research company’s stock worth $177,431,000 after purchasing an additional 13,030 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Price Performance

Shares of NYSE:CRL opened at $219.00 on Thursday. The firm’s 50 day moving average price is $243.85 and its 200-day moving average price is $228.87. Charles River Laboratories International, Inc. has a twelve month low of $161.65 and a twelve month high of $275.00. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $11.28 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 2.10 and a beta of 1.44.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Thursday, May 9th. The medical research company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.22. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $997.24 million. Charles River Laboratories International had a net margin of 10.81% and a return on equity of 15.16%. Equities research analysts expect that Charles River Laboratories International, Inc. will post 11 EPS for the current year.

Insider Buying and Selling

In related news, EVP Joseph W. Laplume sold 1,304 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $226.97, for a total value of $295,968.88. Following the completion of the sale, the executive vice president now directly owns 23,276 shares of the company’s stock, valued at approximately $5,282,953.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Charles River Laboratories International news, EVP Victoria L. Creamer sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $253.70, for a total transaction of $1,268,500.00. Following the completion of the sale, the executive vice president now directly owns 13,550 shares of the company’s stock, valued at approximately $3,437,635. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph W. Laplume sold 1,304 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $226.97, for a total transaction of $295,968.88. Following the sale, the executive vice president now directly owns 23,276 shares of the company’s stock, valued at $5,282,953.72. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CRL shares. Robert W. Baird dropped their price target on shares of Charles River Laboratories International from $282.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Argus upped their target price on shares of Charles River Laboratories International from $240.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, March 18th. UBS Group upped their target price on shares of Charles River Laboratories International from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Guggenheim cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating in a research note on Thursday, February 15th. Finally, TD Cowen lowered their target price on shares of Charles River Laboratories International from $260.00 to $228.00 and set a “hold” rating on the stock in a research note on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.27.

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).