308,855 Charles River Laboratories International, Inc. $CRL Shares Purchased by Danske Bank A S

Key Points

• Danske Bank increased its Charles River Laboratories stake by 308,855 shares in the third quarter, ending with 308,955 shares worth about $91.1 million. Several other institutional investors also added shares.
• Charles River reported quarterly EPS of $3.09, beating the $2.97 consensus, and revenue of $982.7 million, above estimates; revenue nevertheless fell 2.2% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $311.67; the article reported CRL shares at $338.27.

Danske Bank A S raised its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 308,855.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,955 shares of the medical research company's stock after acquiring an additional 308,855 shares during the quarter. Danske Bank A S owned approximately 0.64% of Charles River Laboratories International worth $91,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aberdeen Group plc lifted its stake in Charles River Laboratories International by 483.6% in the 3rd quarter. Aberdeen Group plc now owns 792,576 shares of the medical research company's stock valued at $233,818,000 after purchasing an additional 656,777 shares during the last quarter. Amundi increased its holdings in shares of Charles River Laboratories International by 175.2% during the first quarter. Amundi now owns 773,315 shares of the medical research company's stock worth $133,397,000 after buying an additional 492,301 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Charles River Laboratories International by 457.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 436,055 shares of the medical research company's stock valued at $128,641,000 after acquiring an additional 357,817 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Charles River Laboratories International by 14.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,652,484 shares of the medical research company's stock valued at $285,001,000 after acquiring an additional 210,260 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Charles River Laboratories International by 230.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,537 shares of the medical research company's stock valued at $59,044,000 after acquiring an additional 142,716 shares in the last quarter. 98.91% of the stock is owned by institutional investors.

Charles River Laboratories International Trading Down 0.7%

Shares of CRL stock traded down $2.54 on Friday, hitting $338.27. The company had a trading volume of 838,240 shares, compared to its average volume of 1,294,316. Charles River Laboratories International, Inc. has a twelve month low of $146.20 and a twelve month high of $379.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.41. The firm has a market cap of $16.21 billion, a P/E ratio of 371.73, a P/E/G ratio of 3.08 and a beta of 1.36. The stock's 50-day moving average is $311.21 and its two-hundred day moving average is $228.24.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The medical research company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.12. Charles River Laboratories International had a return on equity of 16.95% and a net margin of 1.01%. The company had revenue of $982.73 million for the quarter, compared to analyst estimates of $960.36 million. During the same period in the previous year, the firm earned $2.43 earnings per share. The firm's quarterly revenue was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Charles River Laboratories International, Inc. will post 11.45 earnings per share for the current fiscal year.

Insider Transactions at Charles River Laboratories International

In other news, Director James C. Foster sold 33,561 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $300.00, for a total value of $10,068,300.00. Following the sale, the director directly owned 31,596 shares of the company's stock, valued at approximately $9,478,800. This represents a 51.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Shannon Parisotto sold 2,156 shares of the stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $344.41, for a total transaction of $742,547.96. Following the sale, the executive vice president owned 4,807 shares of the company's stock, valued at approximately $1,655,578.87. This trade represents a 30.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 63,352 shares of company stock worth $20,291,281. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CRL shares. Wall Street Zen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. Royal Bank Of Canada boosted their price target on Charles River Laboratories International from $322.00 to $352.00 and gave the stock an "outperform" rating in a report on Thursday, November 5th. Jefferies Financial Group upped their price objective on Charles River Laboratories International from $305.00 to $340.00 and gave the company a "buy" rating in a research note on Monday, September 28th. Robert W. Baird raised their price objective on shares of Charles River Laboratories International from $291.00 to $334.00 and gave the company an "outperform" rating in a report on Friday, September 25th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Charles River Laboratories International in a research report on Monday, September 28th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $311.67.

Charles River Laboratories International Profile

Charles River Laboratories International is a contract research organization that supports pharmaceutical and biotechnology companies, as well as academic and government researchers, in developing medicines and advancing scientific research. Its services span the drug development process, from early discovery and preclinical research to manufacturing support. The company's offerings include research models and related services, drug discovery and safety assessment, and manufacturing solutions. These may include laboratory animal models, laboratory testing, bioanalysis, and support for the production of products used in the development of pharmaceuticals and biologics.

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