Charles River Laboratories International, Inc. $CRL Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its holdings in Charles River Laboratories International by 144.3%, now owning a total of 544,825 shares worth approximately $82 million.
• Multiple hedge funds also increased their positions in Charles River Laboratories, contributing to institutional investors owning 98.91% of the company's stock.
• The company's recent earnings report showed a positive earnings per share of $3.12, exceeding expectations and reflecting a year-over-year revenue increase of 0.6%.

Ameriprise Financial Inc. lifted its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 144.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 544,825 shares of the medical research company's stock after acquiring an additional 321,789 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.11% of Charles River Laboratories International worth $82,007,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rothschild Investment LLC increased its holdings in Charles River Laboratories International by 480.0% during the first quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock valued at $26,000 after buying an additional 144 shares during the period. Brooklyn Investment Group boosted its stake in Charles River Laboratories International by 93.5% in the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. HM Payson & Co. acquired a new stake in Charles River Laboratories International in the first quarter valued at approximately $31,000. Optiver Holding B.V. acquired a new stake in Charles River Laboratories International in the fourth quarter valued at approximately $37,000. Finally, Parallel Advisors LLC boosted its stake in Charles River Laboratories International by 83.7% in the first quarter. Parallel Advisors LLC now owns 474 shares of the medical research company's stock valued at $71,000 after acquiring an additional 216 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of Charles River Laboratories International 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 completion of the transaction, the executive vice president owned 24,116 shares of the company's stock, valued at approximately $3,800,681.60. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Performance

Shares of Charles River Laboratories International stock traded up $0.07 during trading on Friday, hitting $163.29. 860,239 shares of the company's stock were exchanged, compared to its average volume of 1,248,584. Charles River Laboratories International, Inc. has a 52-week low of $91.86 and a 52-week high of $230.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.36. The business has a 50-day simple moving average of $159.00 and a 200-day simple moving average of $148.75. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of -122.77, a PEG ratio of 5.20 and a beta of 1.48.

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

Analyst Ratings Changes

Several brokerages have weighed in on CRL. 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 raised their target price for the company from $150.00 to $200.00 in a research note on Wednesday, July 9th. Barclays raised their target price on shares of Charles River Laboratories International from $155.00 to $165.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Robert W. Baird raised their target price on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and lowered their target price for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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).