Charles River Laboratories International, Inc. $CRL Shares Bought by Hsbc Holdings PLC

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 raised its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,813 shares of the medical research company's stock after buying an additional 1,611 shares during the quarter. Hsbc Holdings PLC owned approximately 0.17% of Charles River Laboratories International worth $12,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Charles River Laboratories International by 5.1% in the first quarter. Wellington Management Group LLP now owns 4,285,012 shares of the medical research company's stock valued at $644,980,000 after buying an additional 208,586 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of 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 purchasing an additional 86 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Charles River Laboratories International by 108.6% during the first 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 during the last quarter. Algert Global LLC raised its stake in shares of Charles River Laboratories International by 1,823.3% during the first quarter. Algert Global LLC now owns 22,310 shares of the medical research company's stock worth $3,358,000 after purchasing an additional 21,150 shares during the last quarter. Finally, Cambiar Investors LLC raised its stake in shares of Charles River Laboratories International by 1.5% during the first 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 during the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Price Performance

CRL stock traded up $0.07 on Friday, reaching $163.29. 860,239 shares of the company's stock were exchanged, compared to its average volume of 954,372. The stock has a fifty day moving average of $159.32 and a 200-day moving average of $148.78. Charles River Laboratories International, Inc. has a twelve month low of $91.86 and a twelve month high of $230.02. The firm has a market cap of $8.04 billion, a PE ratio of -122.77, a P/E/G ratio of 5.21 and a beta of 1.48. 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 (NYSE:CRL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 earnings per share 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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $983.76 million. During the same quarter in the prior year, the company posted $2.80 earnings per share. Charles River Laboratories International's quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRL has been the subject of several analyst reports. Evercore ISI upped their price target on Charles River Laboratories International from $180.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Citigroup upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and upped their price target for the stock from $150.00 to $200.00 in a research note on Wednesday, July 9th. Barclays upped 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 note on Thursday, August 7th. Finally, Wall Street Zen cut Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Charles River Laboratories International has a consensus rating of "Hold" and an average target price of $175.69.

Insiders Place Their Bets

In other Charles River Laboratories International 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company's stock.

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).