Assenagon Asset Management S.A. Acquires 11,408 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• Assenagon Asset Management S.A. increased its stake in Charles River Laboratories by 2.0% in the second quarter, now owning 581,505 shares valued at approximately $88.2 million.
• The stock recently showed a 1.1% decline and has a market capitalization of $7.64 billion, with a reported P/E ratio of -116.78.
• A number of research firms have raised their price targets for Charles River Laboratories, with stock recommendations varying from “Buy” to “Hold,” and the consensus target price now at $177.07.

Assenagon Asset Management S.A. raised its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 581,505 shares of the medical research company's stock after acquiring an additional 11,408 shares during the period. Assenagon Asset Management S.A. owned about 1.18% of Charles River Laboratories International worth $88,232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRL. Teacher Retirement System of Texas acquired a new stake in shares of Charles River Laboratories International in the 1st quarter valued at $1,231,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Charles River Laboratories International by 15.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,118 shares of the medical research company's stock worth $952,000 after acquiring an additional 817 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Charles River Laboratories International by 13.1% in the first quarter. Janney Montgomery Scott LLC now owns 44,500 shares of the medical research company's stock worth $6,698,000 after purchasing an additional 5,148 shares during the period. GAMMA Investing LLC increased its holdings in shares of Charles River Laboratories International by 61.6% in the first quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock worth $210,000 after purchasing an additional 533 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Charles River Laboratories International during the first quarter valued at about $213,000. Institutional investors own 98.91% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CRL shares. Evercore ISI raised their price target on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Jefferies Financial Group raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and boosted their price objective for the company from $142.00 to $195.00 in a research report on Tuesday, September 9th. Citigroup upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and upped their price target for the company from $150.00 to $200.00 in a research note on Wednesday, July 9th. Finally, Wall Street Zen lowered shares of Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $177.07.

Charles River Laboratories International Stock Down 1.9%

Shares of NYSE CRL traded down $3.00 during trading on Tuesday, reaching $150.89. 320,461 shares of the stock were exchanged, compared to its average volume of 1,214,350. 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 business's 50-day moving average price is $160.19 and its 200 day moving average price is $148.02. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of -113.58, a price-to-earnings-growth ratio of 4.15 and a beta of 1.47. Charles River Laboratories International, Inc. has a twelve month low of $91.86 and a twelve month high of $230.02.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.62. The firm had revenue of $1.03 billion during 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 firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 earnings per share. As a group, equities analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $157.60, for a total transaction of $126,080.00. Following the transaction, the executive vice president owned 24,116 shares in the company, valued at $3,800,681.60. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company's stock.

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).