Mawer Investment Management Ltd. Buys 5,283 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• Mawer Investment Management Ltd. increased its stake in Charles River Laboratories by 11.3%, holding 51,912 shares worth $7.8 million after acquiring additional shares in the first quarter.
• Other institutional investors, including D1 Capital Partners and Assenagon Asset Management, have also made significant changes to their positions in Charles River Laboratories, with hedge funds owning 98.91% of the company's stock.
• The company reported $2.34 earnings per share for Q1, surpassing expectations, although its revenue declined by 2.7% year-over-year.

Mawer Investment Management Ltd. boosted its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 11.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,912 shares of the medical research company's stock after acquiring an additional 5,283 shares during the quarter. Mawer Investment Management Ltd. owned 0.11% of Charles River Laboratories International worth $7,814,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CRL. D1 Capital Partners L.P. purchased a new stake in shares of Charles River Laboratories International during the 4th quarter worth about $172,752,000. Assenagon Asset Management S.A. raised its stake in shares of Charles River Laboratories International by 1,721.1% during the 1st 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 in the last quarter. Norges Bank purchased a new stake in shares of Charles River Laboratories International during the 4th quarter worth about $98,886,000. Wellington Management Group LLP raised its stake in shares of Charles River Laboratories International by 9.0% during the 4th quarter. Wellington Management Group LLP now owns 4,076,426 shares of the medical research company's stock worth $752,508,000 after purchasing an additional 335,658 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Charles River Laboratories International during the 4th quarter worth about $56,820,000. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Charles River Laboratories International Price Performance

CRL stock traded down $3.23 during trading on Friday, hitting $166.41. The company had a trading volume of 464,901 shares, compared to its average volume of 1,286,272. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. The company has a market cap of $8.17 billion, a P/E ratio of -256.01, a P/E/G ratio of 5.96 and a beta of 1.49. The company has a fifty day moving average price of $152.96 and a two-hundred day moving average price of $149.81. Charles River Laboratories International, Inc. has a fifty-two week low of $91.86 and a fifty-two week high of $236.88.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The medical research company reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.28. The company had revenue of $984.17 million for 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%. The business's revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.27 earnings per share. Equities research analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Joseph W. Laplume sold 500 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $145.41, for a total transaction of $72,705.00. Following the transaction, the executive vice president owned 19,513 shares of the company's stock, valued at $2,837,385.33. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CRL. TD Cowen raised Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price target for the company in a research note on Wednesday, May 14th. Robert W. Baird boosted their target price on Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Citigroup upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $150.00 to $200.00 in a report on Wednesday, July 9th. Evercore ISI boosted their target price on Charles River Laboratories International from $170.00 to $180.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Redburn Atlantic upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $188.00 to $182.00 in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $174.54.

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).