Charles River Laboratories International, Inc. (NYSE:CRL) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its holdings in Charles River Laboratories International by 2.6%, owning over 1 million shares valued at approximately $150.96 million.
• Institutional investors collectively own 98.91% of Charles River Laboratories, with several hedge funds significantly increasing their stakes recently.
• Analyst ratings show a mix of upgrades and target price adjustments, with a consensus rating of "Hold" and an average target price of $174.54.

Mackenzie Financial Corp increased its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,002,951 shares of the medical research company's stock after purchasing an additional 25,878 shares during the quarter. Mackenzie Financial Corp owned approximately 2.04% of Charles River Laboratories International worth $150,964,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. D1 Capital Partners L.P. acquired a new stake in shares of Charles River Laboratories International in the fourth quarter valued at approximately $172,752,000. Assenagon Asset Management S.A. boosted its stake in 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 buying an additional 538,792 shares during the last quarter. Norges Bank acquired a new position in Charles River Laboratories International during the fourth quarter worth $98,886,000. Wellington Management Group LLP boosted its stake in Charles River Laboratories International by 9.0% during the fourth quarter. Wellington Management Group LLP now owns 4,076,426 shares of the medical research company's stock worth $752,508,000 after buying an additional 335,658 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Charles River Laboratories International during the fourth quarter worth $56,820,000. 98.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Mizuho lowered their price objective on Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. TD Cowen raised Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price objective on the stock in a research note on Wednesday, May 14th. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $150.00 to $200.00 in a research note on Wednesday, July 9th. Wall Street Zen lowered Charles River Laboratories International from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Barclays increased their price objective on Charles River Laboratories International from $145.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $174.54.

Insider Transactions at Charles River Laboratories International

In related news, EVP Joseph W. Laplume sold 500 shares of Charles River Laboratories International stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $145.41, for a total value of $72,705.00. Following the completion of the transaction, the executive vice president directly owned 19,513 shares in the company, valued at approximately $2,837,385.33. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

Charles River Laboratories International Trading Down 2.4%

Shares of CRL traded down $4.13 during midday trading on Friday, hitting $165.51. 368,369 shares of the stock were exchanged, compared to its average volume of 1,285,618. Charles River Laboratories International, Inc. has a 52-week low of $91.86 and a 52-week high of $236.88. The stock has a fifty day simple moving average of $152.96 and a 200 day simple moving average of $149.81. The firm has a market cap of $8.13 billion, a P/E ratio of -254.94, a P/E/G ratio of 5.96 and a beta of 1.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.43.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.28. The firm had revenue of $984.17 million during the quarter, compared to analyst estimates of $942.34 million. Charles River Laboratories International had a positive return on equity of 15.19% and a negative net margin of 0.66%. Charles River Laboratories International's revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business posted $2.27 earnings per share. On average, research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

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).