Charles River Laboratories International, Inc. $CRL Shares Acquired by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. increased its position in Charles River Laboratories International by 77.4%, acquiring an additional 18,252 shares, bringing its total to 41,820 shares valued at approximately $6.3 million.
• Several institutional investors are also increasing their stakes in Charles River Laboratories, with notable boosts from Invesco Ltd. and Ariel Investments LLC in recent quarters.
• The company's stock has received upgrades from multiple research firms, with Citigroup raising its price target significantly from $150.00 to $200.00 and a consensus price target now at $175.69.

Vestmark Advisory Solutions Inc. lifted its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 77.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,820 shares of the medical research company's stock after purchasing an additional 18,252 shares during the period. Vestmark Advisory Solutions Inc. owned about 0.09% of Charles River Laboratories International worth $6,295,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in Charles River Laboratories International in the first quarter valued at $1,231,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Charles River Laboratories International by 15.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,118 shares of the medical research company's stock worth $952,000 after purchasing an additional 817 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Charles River Laboratories International by 13.1% during the first quarter. Janney Montgomery Scott LLC now owns 44,500 shares of the medical research company's stock worth $6,698,000 after buying an additional 5,148 shares during the period. GAMMA Investing LLC grew its stake in shares of Charles River Laboratories International by 61.6% in the 1st quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock valued at $210,000 after purchasing an additional 533 shares during the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in Charles River Laboratories International in the 1st quarter valued at $213,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles River Laboratories International

In related news, EVP Joseph W. Laplume sold 800 shares of the company's stock in a transaction that occurred 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 directly owned 24,116 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Up 0.5%

NYSE CRL traded up $0.7550 during mid-day trading on Wednesday, reaching $159.2350. 592,176 shares of the company's stock traded hands, compared to its average volume of 1,023,654. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The company has a fifty day simple moving average of $157.37 and a 200-day simple moving average of $148.83. The company has a market cap of $7.84 billion, a price-to-earnings ratio of -119.73, a P/E/G ratio of 5.06 and a beta of 1.48. 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 posted its quarterly earnings results 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 firm had revenue of $1.03 billion for 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%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.80 earnings per share. As a group, equities research analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRL. Wall Street Zen lowered Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a report on Sunday. Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. 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 report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Barclays upped their target price on Charles River Laboratories International from $155.00 to $165.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $175.69.

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).