Canada Pension Plan Investment Board Buys 102,000 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in Charles River Laboratories International by acquiring 102,000 shares, raising its ownership to a total of 105,300 shares valued at approximately $15.85 million.
• Numerous hedge funds have also adjusted their positions in Charles River Laboratories, with institutions owning 98.91% of the stock, highlighting an increased interest among institutional investors.
• Analysts have set new price targets for the company's stock; for example, Citigroup upgraded its rating to "buy" and set a target price of $200, while the consensus price target is around $175.69.

Canada Pension Plan Investment Board raised its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 3,090.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,300 shares of the medical research company's stock after acquiring an additional 102,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.21% of Charles River Laboratories International worth $15,850,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC boosted its stake in shares of Charles River Laboratories International by 480.0% in the first quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock valued at $26,000 after purchasing an additional 144 shares during the period. Brooklyn Investment Group lifted its holdings in Charles River Laboratories International by 93.5% in the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock worth $27,000 after buying an additional 86 shares in the last quarter. HM Payson & Co. purchased a new position in Charles River Laboratories International in the 1st quarter valued at about $31,000. Parallel Advisors LLC grew its stake in shares of Charles River Laboratories International by 83.7% during 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. Finally, Groupe la Francaise increased its holdings in Charles River Laboratories International by 44.6% during the 1st quarter. Groupe la Francaise now owns 590 shares of the medical research company's stock worth $89,000 after purchasing an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Price Performance

NYSE CRL traded up $1.69 on Friday, reaching $164.00. The company's stock had a trading volume of 598,963 shares, compared to its average volume of 771,766. 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 current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $160.62 and a 200 day moving average price of $148.93. The firm has a market cap of $8.07 billion, a PE ratio of -123.31, a price-to-earnings-growth ratio of 5.24 and a beta of 1.47.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its earnings results 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 business 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 firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 EPS. Sell-side analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Insider Activity

In other news, EVP Joseph W. Laplume sold 800 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $157.60, for a total value of $126,080.00. Following the transaction, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

CRL has been the subject of several recent research reports. JPMorgan Chase & Co. boosted 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. Evercore ISI lifted their price objective 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. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and increased their price target for the company from $150.00 to $200.00 in a research note on Wednesday, July 9th. Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $188.00 to $182.00 in a report on Friday, May 23rd. Finally, Cowen raised Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus 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).