NorthRock Partners LLC Invests $275,000 in Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• NorthRock Partners LLC has acquired a stake in Charles River Laboratories by purchasing 1,830 shares valued at approximately $275,000 in the first quarter.
• Institutional investors collectively own 98.91% of Charles River Laboratories' stock, indicating strong institutional interest in the company.
• Charles River Laboratories reported $2.34 earnings per share, surpassing analysts' expectations of $2.06, with revenue of $984.17 million for the quarter.

NorthRock Partners LLC purchased a new position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,830 shares of the medical research company's stock, valued at approximately $275,000.

Several other institutional investors have also modified their holdings of CRL. American Century Companies Inc. increased its holdings in Charles River Laboratories International by 5.6% during the 4th quarter. American Century Companies Inc. now owns 2,984 shares of the medical research company's stock worth $551,000 after purchasing an additional 157 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Charles River Laboratories International by 12.4% during the fourth quarter. National Bank of Canada FI now owns 23,855 shares of the medical research company's stock worth $4,396,000 after buying an additional 2,639 shares during the period. Geode Capital Management LLC grew its holdings in shares of Charles River Laboratories International by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,233,211 shares of the medical research company's stock worth $227,042,000 after buying an additional 14,787 shares in the last quarter. Huntington National Bank grew its holdings in shares of Charles River Laboratories International by 120.6% during the fourth quarter. Huntington National Bank now owns 300 shares of the medical research company's stock worth $55,000 after buying an additional 164 shares in the last quarter. Finally, Bryce Point Capital LLC acquired a new stake in Charles River Laboratories International in the 4th quarter valued at approximately $535,000. Institutional investors own 98.91% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CRL shares. Cowen raised Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Barclays increased their target price on shares of Charles River Laboratories International from $145.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Robert W. Baird boosted their price target on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Mizuho reduced their price objective on shares of Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $174.54.

Insiders Place Their Bets

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 500 shares of the firm'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 completion of the sale, the executive vice president owned 19,513 shares of the company's stock, valued at $2,837,385.33. This trade represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Performance

Shares of CRL stock traded down $2.75 on Friday, reaching $166.89. The stock had a trading volume of 821,687 shares, compared to its average volume of 824,309. Charles River Laboratories International, Inc. has a 12 month low of $91.86 and a 12 month high of $236.88. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of -256.75, a P/E/G ratio of 5.65 and a beta of 1.48. The firm's 50-day moving average is $153.56 and its two-hundred day moving average is $149.44. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.78.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share for the quarter, topping analysts' consensus estimates of $2.06 by $0.28. Charles River Laboratories International had a positive return on equity of 15.19% and a negative net margin of 0.66%. The firm had revenue of $984.17 million for the quarter, compared to the consensus estimate of $942.34 million. During the same quarter in the previous year, the business earned $2.27 earnings per share. The business's revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect 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).