Riverbridge Partners LLC Has $20.28 Million Stake in Charles River Laboratories International, Inc. $CRL

Key Points

• Riverbridge Partners LLC reduced its stake in Charles River Laboratories International by 40%, now holding approximately 0.27% of the company, valued at about $20.28 million.
• Several institutional investors, including Wellington Management Group and Kayne Anderson Rudnick Investment Management, have increased their stakes in Charles River Laboratories, indicating strong investor interest in the company.
• Recent analyst ratings for Charles River Laboratories show a positive outlook, with the consensus price target reaching $177.07 and most analysts rating the stock as a "Buy" or "Hold."

Riverbridge Partners LLC trimmed its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 40.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,627 shares of the medical research company's stock after selling 89,107 shares during the quarter. Riverbridge Partners LLC owned approximately 0.27% of Charles River Laboratories International worth $20,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in CRL. Wellington Management Group LLP increased its position in shares of Charles River Laboratories International by 5.1% during 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 purchasing an additional 208,586 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Charles River Laboratories International by 8.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,950,273 shares of the medical research company's stock worth $293,555,000 after purchasing an additional 144,732 shares in the last quarter. Invesco Ltd. boosted its stake in Charles River Laboratories International by 7.2% in the first quarter. Invesco Ltd. now owns 1,108,358 shares of the medical research company's stock worth $166,830,000 after purchasing an additional 74,178 shares in the last quarter. Ariel Investments LLC boosted its stake in Charles River Laboratories International by 3.1% in the first quarter. Ariel Investments LLC now owns 1,100,776 shares of the medical research company's stock worth $165,689,000 after purchasing an additional 33,449 shares in the last quarter. Finally, Earnest Partners LLC raised its position in shares of Charles River Laboratories International by 2.3% during the first quarter. Earnest Partners LLC now owns 1,004,607 shares of the medical research company's stock worth $151,213,000 after acquiring an additional 22,453 shares during the last quarter. 98.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $150.00 to $200.00 in a research report on Wednesday, July 9th. Barclays increased their price target on Charles River Laboratories International from $155.00 to $165.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Wall Street Zen cut Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Finally, Evercore ISI raised their price objective on Charles River Laboratories International from $180.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $177.07.

Charles River Laboratories International Stock Performance

Shares of Charles River Laboratories International stock opened at $149.23 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.10. The business has a 50-day simple moving average of $159.99 and a 200 day simple moving average of $148.04. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of -112.20, a PEG ratio of 4.02 and a beta of 1.47. Charles River Laboratories International, Inc. has a one year low of $91.86 and a one year high of $230.02.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.62. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $983.76 million. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%.The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 EPS. On average, research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Insider Activity

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $157.60, for a total transaction of $126,080.00. Following the sale, the executive vice president owned 24,116 shares in the company, valued at $3,800,681.60. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

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).

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