Pekin Hardy Strauss Inc. Makes New $3.52 Million Investment in Charles River Laboratories International, Inc. (NYSE:CRL)

Pekin Hardy Strauss Inc. acquired a new stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 23,395 shares of the medical research company's stock, valued at approximately $3,521,000.

Other hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC boosted its position in shares of Charles River Laboratories International by 480.0% during the 1st quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock valued at $26,000 after acquiring an additional 144 shares during the last quarter. Optiver Holding B.V. bought a new position in shares of Charles River Laboratories International during the 4th quarter valued at approximately $37,000. HM Payson & Co. bought a new position in shares of Charles River Laboratories International during the 1st quarter valued at approximately $31,000. GeoWealth Management LLC boosted its position in shares of Charles River Laboratories International by 311.5% during the 4th quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock valued at $46,000 after acquiring an additional 190 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Charles River Laboratories International during the 4th quarter valued at approximately $48,000. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Stock Up 2.9%

Shares of Charles River Laboratories International stock traded up $4.66 during trading on Thursday, hitting $163.63. 828,706 shares of the stock traded hands, compared to its average volume of 1,029,748. The firm has a market cap of $8.04 billion, a P/E ratio of -251.74, a price-to-earnings-growth ratio of 5.36 and a beta of 1.49. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. Charles River Laboratories International, Inc. has a 52-week low of $91.86 and a 52-week high of $254.15. The stock's fifty day simple moving average is $143.11 and its 200 day simple moving average is $152.16.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The medical research company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.06 by $0.28. The firm had revenue of $984.17 million for the quarter, compared to analyst estimates of $942.34 million. Charles River Laboratories International had a positive return on equity of 15.19% and a negative net margin of 0.66%. The business's revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 earnings per share. On average, equities analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CRL shares. Wall Street Zen downgraded Charles River Laboratories International from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Redburn Atlantic upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and decreased their price target for the company from $188.00 to $182.00 in a report on Friday, May 23rd. Evercore ISI increased their price target on Charles River Laboratories International from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Citigroup upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and increased their price target for the company from $150.00 to $200.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $174.54.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $145.41, for a total transaction of $72,705.00. Following the sale, the executive vice president owned 19,513 shares of the company's stock, valued at $2,837,385.33. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by insiders.

About Charles River Laboratories International

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).