Charles River Laboratories International, Inc. (NYSE:CRL) has been making waves in the world of early-stage contract research companies. With their commitment to providing state-of-the-art research models necessary for the development of new drugs, devices, and therapies, it is no surprise that the company has caught the eye of investors around the globe.
One such investor is Thrive Wealth Management LLC, which recently purchased a new position in Charles River Laboratories International shares during the fourth quarter. According to the company’s most recent filing with the Securities and Exchange Commission (SEC), Thrive Wealth Management LLC purchased 956 shares of CRL’s stock, valued at approximately $208,000.
These purchases come on the heels of exciting news related to CRL’s executive leadership team. CEO James C. Foster sold 20,000 shares of CRL’s stock in mid-February for $250 per share, amounting to a total transaction value of $5 million. COO Birgit Girshick also sold shares in February – 3,205 shares trading at an average price point of $254.39.
Despite insider selling activity over the last three months totaling 27,763 shares valued at $6.97 million dollars which accounts for only ~1% of outstanding shares as per reports filed with Edgar on SEC website by insiders who must disclose trades when they buy or sell company stock unlike non-insiders such as institutional and hedge funds investors who are not required to make disclosures but may have significant holdings.
Though some may be disheartened by this recent stock selling activity from high-level personnel within CRL, it is important to keep in mind that these moves are not necessarily indicative of any significant change within the company itself or its overall prospects.
In fact, Charles River Laboratories International continues to stand out as a leader in its field thanks to its commitment to cutting-edge research models and services across each segment: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions.
As the global medical and pharmaceutical industries continue to evolve, it will be exciting to see how Charles River Laboratories International adapts to changing conditions – and whether more investors take notice of the potential that this dynamic company holds.
Investor Confidence High as Charles River Laboratories International Thrives in the Research Industry
Charles River Laboratories International, Inc. (NYSE: CRL) is a company that provides research models needed in the creation of new drugs, medical devices, and therapies used in early-stage contract research. The publicly traded company has experienced some changes in its shareholder composition recently, as several hedge funds have bought or reduced their stakes. According to Market Watch, “International Assets Investment Management LLC purchased a new position in Charles River Laboratories International during the 4th quarter worth approximately $1,390,000.” Additionally, “Forum Financial Management LP purchased a new position in CRL shares” during the same time frame. From the trend presented by Market Watch, it can be inferred that many investors have optimism for Charles River Laboratories International’s future.
The success of Charles River Laboratories International has been noted by several brokerages; they have given it moderate buy ratings. Jefferies Financial Group even gave Charles River Labs an overall rating of “hold,” despite reducing its price target from $233 to $203. These analysts’ predictions could point to the company’s well-deserved placement among major players within this industry.
Charles River Laboratory’s overall market cap is currently estimated at around USD $10.25 billion while it had revenue of $1.10 billion in Q4 2020 which is up by 21.5% compared to 2019 resulting in earnings per share of $2.98 which are above analysts’ estimates of $2.75 earnings per share for Q4 2020. The company’s performance can be attributed to its three main segments – Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions – all which seem to be thriving amidst its sector.
While volatility remains prevalent in the current stock market environment due largely to COVID-19-related economic uncertainty, Charles River Laboratories International continues to demonstrate strength and resilience amid these unprecedented times through stable financials and excellent corporate management making it an excellent investment choice for those looking long term. That being said, should market fluctuations continue to persist in the face of significant uncertainty and unforeseen circumstances, investors must weather these changes carefully, as financial markets remain highly unpredictable especially in 2021.
