Van Berkom & Associates Inc. Raises Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• Van Berkom & Associates Inc. increased its holdings in Charles River Laboratories by 15.2%, acquiring an additional 59,088 shares, bringing its total to 447,086 shares valued at approximately $67.3 million.
• Several institutional investors have significantly changed their stakes in Charles River Laboratories, with Rothschild Investment LLC increasing its position by 480% and others making new acquisitions.
• Analysts have mixed views on Charles River Laboratories, with recent price target adjustments ranging from $155.00 to $180.00, indicating a consensus "Hold" rating with an average target price of $174.54.

Van Berkom & Associates Inc. raised its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 15.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 447,086 shares of the medical research company's stock after acquiring an additional 59,088 shares during the quarter. Charles River Laboratories International comprises approximately 2.2% of Van Berkom & Associates Inc.'s portfolio, making the stock its 25th biggest holding. Van Berkom & Associates Inc. owned approximately 0.91% of Charles River Laboratories International worth $67,295,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of Charles River Laboratories International by 25.7% in the first quarter. Assetmark Inc. now owns 12,285 shares of the medical research company's stock worth $1,849,000 after purchasing an additional 2,510 shares during the period. Cetera Investment Advisers grew its position in Charles River Laboratories International by 7.3% in the first quarter. Cetera Investment Advisers now owns 9,664 shares of the medical research company's stock worth $1,455,000 after acquiring an additional 660 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in Charles River Laboratories International by 18.3% during the first quarter. Avantax Advisory Services Inc. now owns 2,021 shares of the medical research company's stock valued at $304,000 after buying an additional 312 shares during the period. Royce & Associates LP purchased a new stake in Charles River Laboratories International during the first quarter valued at about $623,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Charles River Laboratories International during the first quarter valued at about $566,000. Institutional investors own 98.91% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRL. Redburn Atlantic raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. Mizuho decreased their price target 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. Wall Street Zen downgraded shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Barclays increased their price target on shares of 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. Finally, Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $174.54.

Insider Transactions at Charles River Laboratories International

In related 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 value of $72,705.00. Following the sale, the executive vice president owned 19,513 shares in the company, valued at approximately $2,837,385.33. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Down 0.2%

Shares of Charles River Laboratories International stock traded down $0.32 on Wednesday, reaching $178.13. The company's stock had a trading volume of 155,953 shares, compared to its average volume of 1,293,760. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of -274.28, a P/E/G ratio of 6.06 and a beta of 1.49. The firm's fifty day simple moving average is $151.45 and its two-hundred day simple moving average is $149.77. Charles River Laboratories International, Inc. has a 52 week low of $91.86 and a 52 week high of $254.15. 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 issued its earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.28. Charles River Laboratories International had a negative net margin of 0.66% and a positive return on equity of 15.19%. The company had revenue of $984.17 million for the quarter, compared to analysts' expectations of $942.34 million. During the same quarter last year, the company posted $2.27 earnings per share. The firm's quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current 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).