Charles River Laboratories International, Inc. $CRL Stock Position Increased by Balefire LLC

Key Points

• Balefire LLC increased its stake in Charles River Laboratories (NYSE: CRL) by 39.4%, acquiring an additional 3,815 shares during the second quarter, bringing its total holdings to 13,494 shares valued at approximately $2.05 million.
• Charles River Laboratories recently reported earnings of $3.12 per share for the last quarter, exceeding expectations of $2.50, with revenue of $1.03 billion.
• Analysts have rated Charles River Laboratories with an average rating of "Hold", with six analysts suggesting a "Buy" rating and an average target price of $177.07.

Balefire LLC increased its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 39.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,494 shares of the medical research company's stock after purchasing an additional 3,815 shares during the period. Balefire LLC's holdings in Charles River Laboratories International were worth $2,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Charles River Laboratories International by 5.1% during the 1st quarter. Wellington Management Group LLP now owns 4,285,012 shares of the medical research company's stock worth $644,980,000 after purchasing an additional 208,586 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Charles River Laboratories International by 8.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,950,273 shares of the medical research company's stock worth $293,555,000 after buying an additional 144,732 shares in the last quarter. Invesco Ltd. lifted its holdings in Charles River Laboratories International by 7.2% in the 1st quarter. Invesco Ltd. now owns 1,108,358 shares of the medical research company's stock worth $166,830,000 after buying an additional 74,178 shares in the last quarter. Ariel Investments LLC lifted its holdings in Charles River Laboratories International by 3.1% in the 1st quarter. Ariel Investments LLC now owns 1,100,776 shares of the medical research company's stock worth $165,689,000 after buying an additional 33,449 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in Charles River Laboratories International by 2.3% in the 1st quarter. Earnest Partners LLC now owns 1,004,607 shares of the medical research company's stock worth $151,213,000 after buying an additional 22,453 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction of $126,080.00. Following the sale, the executive vice president owned 24,116 shares in the company, valued at $3,800,681.60. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CRL has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Charles River Laboratories International from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Jefferies Financial Group upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $142.00 to $195.00 in a report on Tuesday, September 9th. Barclays boosted their price objective on shares of Charles River Laboratories International from $155.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $188.00 to $182.00 in a report on Friday, May 23rd. Finally, Citigroup upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $150.00 to $200.00 in a report on Wednesday, July 9th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $177.07.

Charles River Laboratories International Stock Performance

CRL traded down $1.67 on Friday, hitting $155.32. 1,280,048 shares of the company's stock were exchanged, compared to its average volume of 1,219,178. The firm has a market cap of $7.64 billion, a PE ratio of -116.78, a P/E/G ratio of 4.08 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. The stock has a fifty day moving average of $160.36 and a two-hundred day moving average of $148.52. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.

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, topping 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%. Charles River Laboratories International's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.80 earnings per share. On average, research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

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).