Fifth Third Bancorp Grows Stock Position in Charles River Laboratories International, Inc. $CRL

Key Points

• Fifth Third Bancorp increased its stake in Charles River Laboratories International, Inc. by 47.1% during the second quarter, now owning 12,871 shares worth approximately $1.95 million.
• Charles River Laboratories reported a positive earnings per share of $3.12 for the last quarter, surpassing analyst estimates and marking a year-over-year revenue increase of 0.6%.
• Several analysts have recently raised their price target for CRL, with JPMorgan Chase increasing it from $145 to $160 and Evercore ISI from $180 to $190, reflecting a cautious optimism in the stock's performance.

Fifth Third Bancorp boosted its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 47.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,871 shares of the medical research company's stock after acquiring an additional 4,124 shares during the quarter. Fifth Third Bancorp's holdings in Charles River Laboratories International were worth $1,953,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRL. Teacher Retirement System of Texas purchased a new position in shares of Charles River Laboratories International during the 1st quarter valued at approximately $1,231,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Charles River Laboratories International by 15.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,118 shares of the medical research company's stock valued at $952,000 after buying an additional 817 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of 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 buying an additional 5,148 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Charles River Laboratories International by 61.6% during the 1st quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock valued at $210,000 after buying an additional 533 shares during the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Charles River Laboratories International during the 1st quarter valued at approximately $213,000. Hedge funds and other institutional investors own 98.91% of the company's stock.

Insiders Place Their Bets

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the 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 sale, the executive vice president directly owned 24,116 shares of the company's stock, valued at $3,800,681.60. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Charles River Laboratories International Price Performance

Shares of NYSE CRL opened at $148.61 on Friday. 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 debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.10. The business's fifty day moving average price is $159.64 and its two-hundred day moving average price is $147.55. The firm has a market capitalization of $7.31 billion, a PE ratio of -111.74, a P/E/G ratio of 3.97 and a beta of 1.47.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued 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. 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 for the quarter, compared to analyst estimates of $983.76 million. During the same period last year, the company earned $2.80 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on CRL shares. JPMorgan Chase & Co. increased their target price on Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Evercore ISI upped their price target 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. Barclays upped their price target on Charles River Laboratories International from $155.00 to $165.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Jefferies Financial Group raised Charles River Laboratories International from a "hold" rating to a "buy" rating and upped their price target for the company from $142.00 to $195.00 in a research report on Tuesday, September 9th. Finally, Wall Street Zen lowered Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 21st. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $177.07.

Charles River Laboratories International Company 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).

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