Charles River Laboratories International, Inc. $CRL Shares Purchased by Earnest Partners LLC

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 lifted its position in 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. The institutional investor owned 1,004,607 shares of the medical research company's stock after purchasing an additional 22,453 shares during the quarter. Earnest Partners LLC owned 2.05% of Charles River Laboratories International worth $151,213,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Wahed Invest LLC boosted its holdings in Charles River Laboratories International by 6.5% during the 4th quarter. Wahed Invest LLC now owns 1,321 shares of the medical research company's stock valued at $244,000 after acquiring an additional 81 shares during the period. Brooklyn Investment Group increased its position in Charles River Laboratories International by 93.5% during 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. Teachers Retirement System of The State of Kentucky increased its position in Charles River Laboratories International by 2.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 3,916 shares of the medical research company's stock valued at $589,000 after buying an additional 102 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Charles River Laboratories International by 2.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,131 shares of the medical research company's stock valued at $763,000 after buying an additional 105 shares in the last quarter. Finally, Veracity Capital LLC increased its position in Charles River Laboratories International by 3.4% during the 1st quarter. Veracity Capital LLC now owns 3,298 shares of the medical research company's stock valued at $496,000 after buying an additional 107 shares in the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Up 0.0%

Shares of CRL traded up $0.07 during midday trading on Monday, hitting $163.29. 860,239 shares of the company's stock traded hands, compared to its average volume of 956,203. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $230.02. The firm's fifty day moving average is $159.32 and its 200-day moving average is $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 $8.04 billion, a price-to-earnings ratio of -122.77, a price-to-earnings-growth ratio of 5.22 and a beta of 1.47.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued 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 positive return on equity of 15.74% and a negative net margin of 1.69%.The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $983.76 million. During the same quarter in the prior year, the business posted $2.80 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Insider Activity at Charles River Laboratories International

In related news, EVP Joseph W. Laplume sold 800 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $157.60, for a total value of $126,080.00. Following the transaction, the executive vice president directly owned 24,116 shares of the company's stock, valued at $3,800,681.60. This represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

CRL has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target 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. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and raised their price target for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Redburn Atlantic raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and decreased their price target for the company from $188.00 to $182.00 in a report on Friday, May 23rd. Evercore ISI lifted their target price on Charles River Laboratories International from $180.00 to $190.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Cowen raised Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Charles River Laboratories International has an average rating of "Hold" and an average target price 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).