Earnest Partners LLC Buys 22,453 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• Earnest Partners LLC increased its stake in Charles River Laboratories by 2.3%, acquiring an additional 22,453 shares during the first quarter, bringing their total holdings to 1,004,607 shares valued at approximately $151.2 million.
• In recent analyst reports, Charles River Laboratories received multiple upgrades: Citigroup raised its price target from $150 to $200 while Redburn Atlantic adjusted theirs from $188 down to $182, indicating mixed sentiment among analysts.
• Charles River reported a better-than-expected earnings per share of $3.12, surpassing the consensus estimate of $2.50, alongside revenue of $1.03 billion for the quarter ending August 6th.

Earnest Partners LLC increased its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,004,607 shares of the medical research company's stock after acquiring an additional 22,453 shares during the quarter. Earnest Partners LLC owned about 2.05% of Charles River Laboratories International worth $151,213,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Rothschild Investment LLC grew its holdings in Charles River Laboratories International by 480.0% in the 1st quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock valued at $26,000 after buying an additional 144 shares in the last quarter. Brooklyn Investment Group grew 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 valued at $27,000 after buying an additional 86 shares in the last quarter. Optiver Holding B.V. acquired a new position in Charles River Laboratories International in the 4th quarter valued at $37,000. HM Payson & Co. acquired a new position in Charles River Laboratories International in the 1st quarter valued at $31,000. Finally, Parallel Advisors LLC grew its holdings in Charles River Laboratories International by 83.7% in the 1st quarter. Parallel Advisors LLC now owns 474 shares of the medical research company's stock valued at $71,000 after buying an additional 216 shares in the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 800 shares of the 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 completion of the sale, the executive vice president owned 24,116 shares of the company's stock, valued at approximately $3,800,681.60. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Price Performance

Shares of Charles River Laboratories International stock traded up $0.07 during trading on Friday, reaching $163.29. 860,239 shares of the company's stock were exchanged, compared to its average volume of 954,372. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.36. Charles River Laboratories International, Inc. has a 1-year low of $91.86 and a 1-year high of $230.02. The company has a market cap of $8.04 billion, a P/E ratio of -122.77, a PEG ratio of 5.21 and a beta of 1.48. The firm's 50-day moving average price is $159.32 and its 200 day moving average price is $148.81.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.62. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%.The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $983.76 million. During the same quarter in the previous year, the firm earned $2.80 EPS. Charles River Laboratories International's revenue was up .6% on a year-over-year basis. As a group, research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on CRL shares. JPMorgan Chase & Co. upped their price objective on Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. TD Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 target price for the company in a research report on Wednesday, May 14th. Redburn Atlantic upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and cut their target price for the company from $188.00 to $182.00 in a research report on Friday, May 23rd. Evercore ISI upped their target price on Charles River Laboratories International from $180.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Robert W. Baird upped their target price on Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to 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).