Wealthedge Investment Advisors LLC Takes Position in Charles River Laboratories International, Inc. (NYSE: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 stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,833 shares of the medical research company's stock, valued at approximately $426,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CRL. Rothschild Investment LLC raised its stake in shares of Charles River Laboratories International by 480.0% in the 1st quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock valued at $26,000 after acquiring an additional 144 shares during the period. HM Payson & Co. purchased a new stake in shares of Charles River Laboratories International in the 1st quarter valued at approximately $31,000. Optiver Holding B.V. purchased a new stake in shares of Charles River Laboratories International in the 4th quarter valued at approximately $37,000. GeoWealth Management LLC raised its stake in shares of Charles River Laboratories International by 311.5% in the 4th quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock valued at $46,000 after acquiring an additional 190 shares during the period. Finally, Parallel Advisors LLC increased its stake in Charles River Laboratories International by 83.7% during the 1st quarter. Parallel Advisors LLC now owns 474 shares of the medical research company's stock worth $71,000 after buying an additional 216 shares during the period. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Performance

NYSE CRL opened at $155.82 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. Charles River Laboratories International, Inc. has a 52-week low of $91.86 and a 52-week high of $230.02. The business's 50-day moving average price is $156.63 and its 200 day moving average price is $148.99. The firm has a market cap of $7.67 billion, a P/E ratio of -117.16, a P/E/G ratio of 4.95 and a beta of 1.48.

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

Insider Activity at Charles River Laboratories International

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CRL. Robert W. Baird upped their target price on shares of 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. Barclays upped their target price on shares of 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 upped their target price on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, TD Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 target price on the stock in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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).

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