Northwestern Mutual Wealth Management Co. Boosts Holdings in Charles River Laboratories International, Inc. $CRL

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in Charles River Laboratories by 1,366.7% in the first quarter, owning approximately 24,846 shares valued at $3.74 million.
• Other institutional investors have also made substantial increases in their positions, with Assenagon Asset Management raising its stake by 1,721.1%, owning 570,097 shares worth about $85.81 million.
• Charles River Laboratories recently reported earnings of $3.12 per share for the quarter, exceeding analysts' consensus of $2.50, marking a 0.6% year-over-year revenue increase to $1.03 billion.

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 1,366.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,846 shares of the medical research company's stock after purchasing an additional 23,152 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.05% of Charles River Laboratories International worth $3,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRL. Assenagon Asset Management S.A. lifted its position 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 valued at $85,811,000 after purchasing an additional 538,792 shares during the period. Ameriprise Financial Inc. raised its position in shares of Charles River Laboratories International by 144.3% in the first quarter. Ameriprise Financial Inc. now owns 544,825 shares of the medical research company's stock worth $82,007,000 after acquiring an additional 321,789 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Charles River Laboratories International in the fourth quarter worth about $56,820,000. SG Americas Securities LLC raised its position in shares of Charles River Laboratories International by 16,153.2% in the first quarter. SG Americas Securities LLC now owns 267,202 shares of the medical research company's stock worth $40,219,000 after acquiring an additional 265,558 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Charles River Laboratories International by 24,226.8% in the first quarter. GAMMA Investing LLC now owns 210,427 shares of the medical research company's stock worth $31,673,000 after acquiring an additional 209,562 shares during the period. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. TD Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price objective for the company in a research report on Wednesday, May 14th. Barclays upped their price objective on shares of 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. Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $175.69.

Charles River Laboratories International Price Performance

Shares of CRL stock traded up $0.07 on Friday, reaching $163.29. 860,239 shares of the company were exchanged, compared to its average volume of 956,203. The company has a market cap of $8.04 billion, a price-to-earnings ratio of -122.77, a P/E/G ratio of 5.22 and a beta of 1.47. The business has a 50-day moving average price of $159.32 and a 200 day moving average price of $148.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.36. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $230.02.

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 (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.62. The company 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%. Charles River Laboratories International's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.80 EPS. Equities research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the completion of the sale, the executive vice president owned 24,116 shares in the company, valued at approximately $3,800,681.60. This represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

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).