HB Wealth Management LLC Invests $306,000 in Charles River Laboratories International, Inc. $CRL

Key Points

• HB Wealth Management LLC invested approximately $306,000 in Charles River Laboratories International, Inc., acquiring 2,016 shares during the second quarter.
• Several large investors significantly increased their stakes in Charles River, with Goldman Sachs raising its investment by 407% and Assenagon Asset Management by 1,721% in the first quarter.
• Despite a positive earnings report with a beat on EPS and revenue estimates, Charles River's stock recently saw a 1.3% decline in trading, opening at $175.02.

HB Wealth Management LLC bought a new position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,016 shares of the medical research company's stock, valued at approximately $306,000.

A number of other large investors also recently made changes to their positions in CRL. Goldman Sachs Group Inc. increased its stake in shares of Charles River Laboratories International by 407.0% during the first quarter. Goldman Sachs Group Inc. now owns 997,488 shares of the medical research company's stock worth $150,142,000 after purchasing an additional 800,762 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Charles River Laboratories International by 1,721.1% during the first quarter. Assenagon Asset Management S.A. now owns 570,097 shares of the medical research company's stock worth $85,811,000 after purchasing an additional 538,792 shares during the period. Royal Bank of Canada increased its stake in shares of Charles River Laboratories International by 304.7% during the first quarter. Royal Bank of Canada now owns 627,710 shares of the medical research company's stock worth $94,484,000 after purchasing an additional 472,606 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Charles River Laboratories International by 144.3% during the first quarter. Ameriprise Financial Inc. now owns 544,825 shares of the medical research company's stock worth $82,007,000 after purchasing an additional 321,789 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Charles River Laboratories International by 16,153.2% during the first quarter. SG Americas Securities LLC now owns 267,202 shares of the medical research company's stock worth $40,219,000 after purchasing an additional 265,558 shares during the period. Institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Trading Down 1.3%

NYSE CRL opened at $175.02 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. Charles River Laboratories International, Inc. has a twelve month low of $91.86 and a twelve month high of $230.02. The company has a market cap of $8.61 billion, a price-to-earnings ratio of -131.59, a price-to-earnings-growth ratio of 4.74 and a beta of 1.50. The business's fifty day moving average is $159.39 and its 200 day moving average is $147.22.

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 earnings per share 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 company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $983.76 million. During the same quarter last year, the business posted $2.80 EPS. Charles River Laboratories International's revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insider Buying and Selling at Charles River Laboratories International

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Weiss Ratings reissued a "sell (d)" rating on shares of Charles River Laboratories International in a research report on Saturday, September 27th. Barclays raised Charles River Laboratories International from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $165.00 to $195.00 in a research report on Thursday, October 2nd. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and increased their price target for the stock from $150.00 to $200.00 in a research report on Wednesday, July 9th. Finally, William Blair raised Charles River Laboratories International from a "market perform" rating to an "outperform" rating in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $179.93.

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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