Algert Global LLC Purchases 21,150 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• Algert Global LLC significantly increased its stake in Charles River Laboratories International by 1,823.3%, acquiring an additional 21,150 shares to reach a total of 22,310 shares valued at approximately $3.36 million.
• Multiple hedge funds, including Guggenheim Capital and First Trust Advisors, also increased their positions in Charles River Laboratories, reflecting strong interest as institutional investors now own 98.91% of the company's stock.
• Charles River Laboratories reported better-than-expected earnings for the quarter with an EPS of $3.12, surpassing the consensus estimate of $2.50, and recorded revenues of $1.03 billion.

Algert Global LLC lifted its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 1,823.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,310 shares of the medical research company's stock after buying an additional 21,150 shares during the quarter. Algert Global LLC's holdings in Charles River Laboratories International were worth $3,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cambiar Investors LLC lifted its stake in shares of Charles River Laboratories International by 1.5% in the first quarter. Cambiar Investors LLC now owns 40,665 shares of the medical research company's stock worth $6,121,000 after buying an additional 615 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in shares of Charles River Laboratories International in the first quarter worth $426,000. American Century Companies Inc. lifted its stake in shares of Charles River Laboratories International by 29.1% in the first quarter. American Century Companies Inc. now owns 3,853 shares of the medical research company's stock worth $580,000 after buying an additional 869 shares during the last quarter. Ethic Inc. acquired a new stake in shares of Charles River Laboratories International in the first quarter worth $523,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Charles River Laboratories International by 30.0% in the first quarter. Dimensional Fund Advisors LP now owns 862,254 shares of the medical research company's stock worth $129,799,000 after buying an additional 198,750 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Charles River Laboratories International Stock Performance

Charles River Laboratories International stock traded up $2.1940 on Monday, hitting $164.0340. The company's stock had a trading volume of 702,668 shares, compared to its average volume of 971,944. The firm has a market cap of $8.07 billion, a P/E ratio of -123.33, a price-to-earnings-growth ratio of 5.16 and a beta of 1.48. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $157.92 and a 200-day moving average price of $148.53. Charles River Laboratories International, Inc. has a one year low of $91.86 and a one year high of $230.02.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.62. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $983.76 million. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 EPS. On average, equities analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Insider Transactions at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the sale, the executive vice president owned 24,116 shares of the company's stock, valued at $3,800,681.60. The trade was a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRL has been the subject of several research analyst reports. TD Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 target price for the company in a research note on Wednesday, May 14th. Citigroup upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and upped their target price for the company from $150.00 to $200.00 in a research note on Wednesday, July 9th. Evercore ISI upped their target price on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Charles River Laboratories International presently has an average rating of "Hold" and an average target price of $175.69.

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).