The Manufacturers Life Insurance Company Has $28.64 Million Holdings in Charles River Laboratories International, Inc. $CRL

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Charles River Laboratories by 2.3%, holding 190,277 shares valued at approximately $28.64 million after selling 4,400 shares.
• Executives at Charles River Laboratories have been active in the stock market, with EVP Joseph W. Laplume selling 800 shares at an average price of $157.60, reducing his ownership by 3.21%.
• Analysts have mixed ratings on the stock; while Robert W. Baird raised the price target to $140, Wall Street Zen downgraded its rating but still holds a general "buy" recommendation.

The Manufacturers Life Insurance Company trimmed its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,277 shares of the medical research company's stock after selling 4,400 shares during the period. The Manufacturers Life Insurance Company owned 0.39% of Charles River Laboratories International worth $28,640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRL. Assenagon Asset Management S.A. increased its holdings in Charles River Laboratories International by 1,721.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 570,097 shares of the medical research company's stock valued at $85,811,000 after purchasing an additional 538,792 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Charles River Laboratories International by 144.3% during the 1st quarter. Ameriprise Financial Inc. now owns 544,825 shares of the medical research company's stock valued at $82,007,000 after purchasing an additional 321,789 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Charles River Laboratories International during the 4th quarter valued at $56,820,000. SG Americas Securities LLC increased its stake in shares of Charles River Laboratories International by 16,153.2% in the 1st quarter. SG Americas Securities LLC now owns 267,202 shares of the medical research company's stock valued at $40,219,000 after buying an additional 265,558 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Charles River Laboratories International by 24,226.8% in the 1st quarter. GAMMA Investing LLC now owns 210,427 shares of the medical research company's stock valued at $31,673,000 after buying an additional 209,562 shares during the period. 98.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 800 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $157.60, for a total value of $126,080.00. Following the sale, the executive vice president directly owned 24,116 shares in the company, valued at $3,800,681.60. The trade was 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. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Cowen raised Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $150.00 to $200.00 in a research note on Wednesday, July 9th. Wall Street Zen cut Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. JPMorgan Chase & Co. lifted their price objective on Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, Barclays lifted their price objective on Charles River Laboratories International from $155.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $175.69.

Charles River Laboratories International Trading Up 1.0%

CRL stock traded up $1.69 during midday trading on Friday, hitting $164.00. 598,963 shares of the company's stock were exchanged, compared to its average volume of 775,011. The stock's fifty day moving average price is $160.62 and its 200-day moving average price is $149.14. 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 company has a market cap of $8.07 billion, a PE ratio of -123.31, a price-to-earnings-growth ratio of 5.19 and a beta of 1.47. Charles River Laboratories International, Inc. has a one year low of $91.86 and a one 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 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 positive return on equity of 15.74% and a negative net margin of 1.69%.The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 earnings per share. Research analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

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).