Wealthedge Investment Advisors LLC Makes New $426,000 Investment in Charles River Laboratories International, Inc. $CRL

Key Points

• Wealthedge Investment Advisors LLC has acquired a new stake in Charles River Laboratories International, purchasing 2,833 shares valued at approximately $426,000 in the first quarter.
• The stock of Charles River Laboratories has a current market capitalization of $7.67 billion and reported earnings per share of $3.12, exceeding analysts’ expectations.
• As of now, institutional investors own 98.91% of Charles River Laboratories' stock, indicating strong interest from major financial players.

Wealthedge Investment Advisors LLC purchased a new position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,833 shares of the medical research company's stock, valued at approximately $426,000.

A number of other institutional investors also recently made changes to their positions in CRL. D1 Capital Partners L.P. acquired a new position in Charles River Laboratories International in the 4th quarter valued at about $172,752,000. Assenagon Asset Management S.A. grew its holdings in shares of 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 worth $85,811,000 after buying an additional 538,792 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Charles River Laboratories International in the fourth quarter valued at approximately $56,820,000. SG Americas Securities LLC lifted its stake in shares of Charles River Laboratories International by 16,153.2% during the first quarter. SG Americas Securities LLC now owns 267,202 shares of the medical research company's stock valued at $40,219,000 after buying an additional 265,558 shares during the period. Finally, GAMMA Investing LLC boosted its position in Charles River Laboratories International by 24,226.8% during 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 last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Stock Down 0.5%

NYSE CRL traded down $0.82 on Wednesday, reaching $157.66. The company had a trading volume of 134,116 shares, compared to its average volume of 1,269,606. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.10. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $230.02. The firm has a 50-day moving average of $157.21 and a 200-day moving average of $148.76. The firm has a market capitalization of $7.76 billion, a PE ratio of -118.36, a P/E/G ratio of 5.01 and a beta of 1.48.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its earnings results 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 business 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 business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.80 earnings per share. On average, equities research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insider Buying and Selling at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 400 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $150.04, for a total transaction of $60,016.00. Following the completion of the sale, the executive vice president directly owned 24,916 shares in the company, valued at $3,738,396.64. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on CRL shares. Barclays increased their price target on Charles River Laboratories International from $155.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Evercore ISI increased their target price on 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 raised Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price target on the stock in a research note on Wednesday, May 14th. JPMorgan Chase & Co. upped 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 note on Thursday, August 7th. Finally, Robert W. Baird increased their price objective on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Five 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $175.69.

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).