Wellington Management Group LLP Grows Position in Charles River Laboratories International, Inc. $CRL

Key Points

• Wellington Management Group increased its stake in Charles River Laboratories International, Inc. by 5.1%, owning 8.72% of the company, valued at approximately $644.9 million.
• Multiple analysts upgraded Charles River Laboratories' stock rating, with target prices fluctuating between $140.00 to $200.00, reflecting a positive outlook from the investment community.
• Charles River Laboratories reported an earnings per share (EPS) of $3.12 for the last quarter, exceeding forecasts significantly, along with year-over-year revenue growth of 0.6% to $1.03 billion.

Wellington Management Group LLP raised its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,285,012 shares of the medical research company's stock after purchasing an additional 208,586 shares during the quarter. Wellington Management Group LLP owned 8.72% of Charles River Laboratories International worth $644,980,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CRL. Rothschild Investment LLC raised its holdings 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 worth $26,000 after purchasing an additional 144 shares during the period. Brooklyn Investment Group raised its holdings in shares of Charles River Laboratories International by 93.5% in the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock worth $27,000 after purchasing an additional 86 shares during the period. HM Payson & Co. purchased a new position in shares of Charles River Laboratories International in the 1st quarter worth about $31,000. Optiver Holding B.V. purchased a new stake in shares of Charles River Laboratories International during the 4th quarter valued at about $37,000. Finally, GeoWealth Management LLC raised its holdings in shares of 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 buying an additional 190 shares during the period. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on CRL shares. Robert W. Baird raised their target price on Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Citigroup upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and raised their target price for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Redburn Atlantic upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and dropped their target price for the company from $188.00 to $182.00 in a report on Friday, May 23rd. Finally, Barclays raised their target price on Charles River Laboratories International from $155.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $175.69.

Charles River Laboratories International Price Performance

Shares of CRL opened at $157.27 on Tuesday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of -118.25, a PEG ratio of 5.00 and a beta of 1.48. The stock has a 50 day moving average of $157.06 and a 200-day moving average of $148.69. The company has a current ratio of 1.36, a quick ratio of 1.10 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.

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

Insider Activity at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 400 shares of Charles River Laboratories International stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $150.04, for a total value of $60,016.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.

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).

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