Hsbc Holdings PLC Purchases 1,611 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• Hsbc Holdings PLC increased its stake in Charles River Laboratories by 2.0%, owning a total of 81,813 shares valued at approximately $12.27 million after purchasing an additional 1,611 shares in the first quarter.
• The company's stock price has risen by 4.5%, and it posted earnings of $3.12 per share, exceeding estimates by $0.62, with revenues of $1.03 billion.
• Analysts have raised their price targets for the stock, with an average target now at $175.69, while five analysts rated it as a "Buy" and nine as "Hold."

Hsbc Holdings PLC boosted its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,813 shares of the medical research company's stock after purchasing an additional 1,611 shares during the quarter. Hsbc Holdings PLC owned about 0.17% of Charles River Laboratories International worth $12,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Charles River Laboratories International by 5.1% during the first quarter. Wellington Management Group LLP now owns 4,285,012 shares of the medical research company's stock worth $644,980,000 after buying an additional 208,586 shares in the last quarter. Brooklyn Investment Group increased its position in Charles River Laboratories International by 93.5% during the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock worth $27,000 after acquiring an additional 86 shares during the period. Burgundy Asset Management Ltd. raised its stake in Charles River Laboratories International by 108.6% in the 1st quarter. Burgundy Asset Management Ltd. now owns 2,720 shares of the medical research company's stock worth $409,000 after purchasing an additional 1,416 shares in the last quarter. Algert Global LLC boosted its holdings in Charles River Laboratories International by 1,823.3% in the 1st quarter. Algert Global LLC now owns 22,310 shares of the medical research company's stock valued at $3,358,000 after purchasing an additional 21,150 shares during the period. Finally, Cambiar Investors LLC grew its position in shares of Charles River Laboratories International by 1.5% during the 1st quarter. Cambiar Investors LLC now owns 40,665 shares of the medical research company's stock worth $6,121,000 after purchasing an additional 615 shares in the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Up 4.5%

CRL stock opened at $161.5530 on Monday. The firm has a 50-day moving average price of $157.67 and a 200-day moving average price of $148.53. Charles River Laboratories International, Inc. has a 12 month low of $91.86 and a 12 month high of $230.02. 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 $7.95 billion, a P/E ratio of -121.47, a price-to-earnings-growth ratio of 5.16 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.50 by $0.62. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $983.76 million. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.80 EPS. As a group, equities research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRL has been the subject of a number of analyst reports. Evercore ISI lifted their price target on shares of 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. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. 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. Barclays raised their price target on Charles River Laboratories International from $155.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target 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. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Charles River Laboratories International currently has an average rating of "Hold" and an average price target 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).

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