Russell Investments Group Ltd. Lowers Stake in Charles River Laboratories International, Inc. $CRL

Key Points

• Russell Investments Group Ltd. reduced its stake in Charles River Laboratories International by 35.9% during the first quarter, selling 10,937 shares and now holding 19,508 shares valued at approximately $2.94 million.
• Several institutional investors substantially increased their stakes in Charles River Laboratories, with Assenagon Asset Management raising its stake by 1,721.1% and now owning 570,097 shares worth about $85.81 million.
• Analysts have raised various price targets for Charles River Laboratories, with a consensus target price of $175.69 and a mix of ratings including five "Buy," nine "Hold," and one "Sell."

Russell Investments Group Ltd. cut its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 35.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,508 shares of the medical research company's stock after selling 10,937 shares during the quarter. Russell Investments Group Ltd.'s holdings in Charles River Laboratories International were worth $2,936,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CRL. Rothschild Investment LLC lifted its position 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 purchasing an additional 144 shares during the period. HM Payson & Co. acquired a new position in shares of Charles River Laboratories International in the first quarter worth about $31,000. Optiver Holding B.V. acquired a new position in shares of Charles River Laboratories International in the fourth quarter worth about $37,000. GeoWealth Management LLC raised its position in shares of Charles River Laboratories International by 311.5% in the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock worth $46,000 after acquiring an additional 190 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of 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 worth $71,000 after acquiring an additional 216 shares during the period. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Trading Down 0.2%

CRL stock traded down $0.40 during midday trading on Friday, hitting $162.82. 214,733 shares of the company's stock were exchanged, compared to its average volume of 1,244,577. The business has a 50-day simple moving average of $159.00 and a two-hundred day simple moving average of $148.75. 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 stock has a market capitalization of $8.01 billion, a PE ratio of -122.42, a P/E/G ratio of 5.20 and a beta of 1.48. Charles River Laboratories International, Inc. has a 1-year low of $91.86 and a 1-year high of $230.02.

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 (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.62. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $983.76 million. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%.The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 earnings per share. On average, sell-side analysts predict that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. TD Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price target for the company in a research report on Wednesday, May 14th. Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Barclays upped their price objective 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. Finally, Citigroup raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and upped their price objective for the company from $150.00 to $200.00 in a research note on Wednesday, July 9th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Charles River Laboratories International has an average rating of "Hold" and a consensus price target of $175.69.

Insider Buying and Selling at Charles River Laboratories International

In related news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction 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. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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).