Royce & Associates LP Invests $623,000 in Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• Royce & Associates LP made a new investment of $623,000 in Charles River Laboratories, acquiring 4,140 shares during the first quarter.
• Several other institutional investors have also increased their stakes in Charles River Laboratories, with 98.91% of the stock currently owned by hedge funds and other institutional investors.
• Analysts have recently upgraded their ratings for the company, with a consensus price target of $174.54 and five analysts rating the stock as a buy.

Royce & Associates LP purchased a new stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,140 shares of the medical research company's stock, valued at approximately $623,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rothschild Investment LLC boosted its stake in Charles River Laboratories International by 480.0% during the 1st quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock valued at $26,000 after purchasing an additional 144 shares during the last quarter. HM Payson & Co. purchased a new stake in Charles River Laboratories International during the 1st quarter valued at $31,000. Optiver Holding B.V. purchased a new stake in Charles River Laboratories International during the 4th quarter valued at $37,000. GeoWealth Management LLC boosted its stake in Charles River Laboratories International by 311.5% during the 4th quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock valued at $46,000 after purchasing an additional 190 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Charles River Laboratories International in the 4th quarter worth $48,000. Institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Price Performance

Shares of CRL stock traded down $2.75 during mid-day trading on Friday, hitting $166.89. 821,687 shares of the stock were exchanged, compared to its average volume of 1,288,905. The firm has a fifty day moving average of $152.96 and a 200 day moving average of $149.81. 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, Inc. has a 52-week low of $91.86 and a 52-week high of $236.88. The company has a market cap of $8.20 billion, a PE ratio of -256.75, a price-to-earnings-growth ratio of 5.96 and a beta of 1.49.

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

Insider Activity

In other news, EVP Joseph W. Laplume sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 in the company, valued at $2,837,385.33. This trade represents a 2.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRL has been the topic of a number of research reports. Mizuho dropped their price target 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. Barclays raised their price target on Charles River Laboratories International from $145.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Redburn Atlantic upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $188.00 to $182.00 in a research note on Friday, May 23rd. Robert W. Baird raised their price target on Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Citigroup upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and lifted their target price for the company from $150.00 to $200.00 in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $174.54.

About Charles River Laboratories International

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).