M&T Bank Corp Buys 245 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

M&T Bank Corp increased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,246 shares of the medical research company’s stock after buying an additional 245 shares during the quarter. M&T Bank Corp’s holdings in Charles River Laboratories International were worth $415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc lifted its position in shares of Charles River Laboratories International by 1,071.4% during the 4th quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock worth $30,000 after buying an additional 150 shares during the period. Assetmark Inc. lifted its position in shares of Charles River Laboratories International by 1,153.3% during the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after buying an additional 173 shares during the period. Pinnacle Bancorp Inc. lifted its position in shares of Charles River Laboratories International by 52.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock worth $35,000 after buying an additional 65 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Charles River Laboratories International during the 3rd quarter worth approximately $59,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Charles River Laboratories International during the 4th quarter worth approximately $56,000. Institutional investors own 98.91% of the company’s stock.

Insider Activity

In related news, EVP Joseph W. Laplume sold 4,400 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $162.50, for a total transaction of $715,000.00. Following the sale, the executive vice president now owns 20,013 shares in the company, valued at approximately $3,252,112.50. This represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Birgit Girshick bought 1,514 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $164.63 per share, for a total transaction of $249,249.82. Following the acquisition, the chief operating officer now directly owns 55,058 shares of the company’s stock, valued at $9,064,198.54. This represents a 2.83 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

CRL has been the subject of several research analyst reports. Bank of America cut their price objective on Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Robert W. Baird cut their price objective on Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Morgan Stanley cut their price objective on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Barclays cut their price objective on Charles River Laboratories International from $205.00 to $166.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price objective on Charles River Laboratories International from $175.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $198.36.

Charles River Laboratories International Stock Performance

CRL stock opened at $167.03 on Friday. The business’s 50-day moving average price is $168.35 and its two-hundred day moving average price is $185.07. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65. The firm has a market cap of $8.54 billion, a PE ratio of 1,113.55, a P/E/G ratio of 4.54 and a beta of 1.45. Charles River Laboratories International, Inc. has a 1-year low of $150.79 and a 1-year high of $274.77.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.16. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.63 million. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 earnings per share. As a group, research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Charles River Laboratories International Company 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).