Deutsche Bank AG Purchases 178,927 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• Deutsche Bank AG increased its holdings in Charles River Laboratories by 77%, acquiring an additional 178,927 shares, bringing its total ownership to 411,419 shares worth approximately $61.9 million.
• Multiple hedge funds, including Bank of Nova Scotia and Raymond James Financial, have also recently increased their stakes in Charles River Laboratories, indicating a strong interest from institutional investors, who own 98.91% of the stock.
• Analyst ratings for Charles River Laboratories are mixed, with a consensus rating of "Hold" and an average target price of $175.69, although some firms have upgraded their ratings and price targets recently.

Deutsche Bank AG raised its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 77.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 411,419 shares of the medical research company's stock after buying an additional 178,927 shares during the period. Deutsche Bank AG owned about 0.84% of Charles River Laboratories International worth $61,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRL. Bank of Nova Scotia increased its stake in shares of Charles River Laboratories International by 4.9% in the fourth quarter. Bank of Nova Scotia now owns 5,011 shares of the medical research company's stock worth $925,000 after purchasing an additional 232 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Charles River Laboratories International in the fourth quarter worth $42,776,000. Capital Fund Management S.A. increased its stake in shares of Charles River Laboratories International by 13.8% in the fourth quarter. Capital Fund Management S.A. now owns 27,786 shares of the medical research company's stock worth $5,129,000 after purchasing an additional 3,371 shares in the last quarter. Covestor Ltd increased its stake in shares of Charles River Laboratories International by 33.9% in the fourth quarter. Covestor Ltd now owns 438 shares of the medical research company's stock worth $81,000 after purchasing an additional 111 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in shares of Charles River Laboratories International by 53.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,086 shares of the medical research company's stock worth $570,000 after purchasing an additional 1,080 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 400 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.04, for a total transaction of $60,016.00. Following the completion of the transaction, the executive vice president owned 24,916 shares in the company, valued at $3,738,396.64. This trade represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

Charles River Laboratories International Price Performance

CRL stock traded up $0.86 during trading on Friday, hitting $156.66. 1,038,291 shares of the company's stock traded hands, compared to its average volume of 1,079,568. 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 debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.36. The business has a fifty day simple moving average of $156.87 and a 200 day simple moving average of $148.95. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of -117.79, a P/E/G ratio of 4.97 and a beta of 1.48.

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 EPS for the quarter, beating the consensus estimate of $2.50 by $0.62. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $983.76 million. During the same quarter last year, the business earned $2.80 earnings per share. Charles River Laboratories International's quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRL has been the subject of a number of analyst reports. Wall Street Zen raised shares of Charles River Laboratories International from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. TD Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price objective for the company in a research note on Wednesday, May 14th. JPMorgan Chase & Co. increased their price objective on shares of 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. Robert W. Baird increased their price objective on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Charles River Laboratories International currently has a consensus rating of "Hold" and an average price target of $175.69.

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).