Iridian Asset Management LLC CT Boosts Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Iridian Asset Management LLC CT grew its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 18.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,419 shares of the medical research company's stock after purchasing an additional 9,454 shares during the period. Charles River Laboratories International makes up about 2.9% of Iridian Asset Management LLC CT's portfolio, making the stock its 12th biggest position. Iridian Asset Management LLC CT owned about 0.12% of Charles River Laboratories International worth $9,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Charles River Laboratories International by 15.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,118 shares of the medical research company's stock worth $952,000 after purchasing an additional 817 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Charles River Laboratories International by 13.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 44,500 shares of the medical research company's stock valued at $6,698,000 after acquiring an additional 5,148 shares during the period. GAMMA Investing LLC grew its position in Charles River Laboratories International by 61.6% in the 1st quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock valued at $210,000 after acquiring an additional 533 shares during the last quarter. Blue Trust Inc. increased its stake in Charles River Laboratories International by 60.1% in the first quarter. Blue Trust Inc. now owns 2,407 shares of the medical research company's stock worth $362,000 after purchasing an additional 904 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Charles River Laboratories International by 1.0% during the first quarter. State of Alaska Department of Revenue now owns 15,914 shares of the medical research company's stock worth $2,395,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

Insider Activity

In other news, EVP Joseph W. Laplume sold 500 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $145.41, for a total transaction of $72,705.00. Following the completion of the sale, the executive vice president owned 19,513 shares of the company's stock, valued at $2,837,385.33. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CRL. Wall Street Zen downgraded shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a research note on Saturday. Redburn Atlantic raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $188.00 to $182.00 in a research report on Friday, May 23rd. The Goldman Sachs Group downgraded Charles River Laboratories International from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $190.00 to $170.00 in a research report on Friday, March 21st. Mizuho lowered their target price on shares of Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Finally, Evercore ISI increased their price objective on Charles River Laboratories International from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $174.54.

Charles River Laboratories International Price Performance

Shares of CRL stock traded up $0.38 during mid-day trading on Wednesday, hitting $158.77. 653,948 shares of the stock were exchanged, compared to its average volume of 1,030,552. Charles River Laboratories International, Inc. has a 52-week low of $91.86 and a 52-week high of $254.15. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.78. The company has a market cap of $7.80 billion, a PE ratio of -244.26, a price-to-earnings-growth ratio of 5.36 and a beta of 1.49. The firm has a fifty day moving average of $142.30 and a 200 day moving average of $152.12.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.06 by $0.28. The company had revenue of $984.17 million for the quarter, compared to the consensus estimate of $942.34 million. Charles River Laboratories International had a positive return on equity of 15.19% and a negative net margin of 0.66%. Charles River Laboratories International's revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.27 earnings per share. Research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current 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).