Wellington Management Group LLP Buys 208,586 Shares of 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 grew its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 5.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,285,012 shares of the medical research company's stock after buying an additional 208,586 shares during the period. Wellington Management Group LLP owned approximately 8.72% of Charles River Laboratories International worth $644,980,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Invesco Ltd. raised its position in shares of Charles River Laboratories International by 7.2% during the first quarter. Invesco Ltd. now owns 1,108,358 shares of the medical research company's stock valued at $166,830,000 after buying an additional 74,178 shares during the last quarter. Ariel Investments LLC raised its position in shares of Charles River Laboratories International by 18.9% during the fourth quarter. Ariel Investments LLC now owns 1,067,327 shares of the medical research company's stock valued at $197,029,000 after buying an additional 169,640 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Charles River Laboratories International by 2.6% during the first quarter. Mackenzie Financial Corp now owns 1,002,951 shares of the medical research company's stock valued at $150,964,000 after buying an additional 25,878 shares during the last quarter. D1 Capital Partners L.P. acquired a new position in shares of Charles River Laboratories International during the fourth quarter valued at about $172,752,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Charles River Laboratories International by 30.0% during the first quarter. Dimensional Fund Advisors LP now owns 862,254 shares of the medical research company's stock valued at $129,799,000 after buying an additional 198,750 shares during the last quarter. Institutional investors and hedge funds own 98.91% of the company's stock.

Charles River Laboratories International Price Performance

Charles River Laboratories International stock traded up $7.0130 during trading hours on Friday, hitting $161.5530. 1,254,488 shares of the stock were exchanged, compared to its average volume of 971,944. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.36. The stock has a market capitalization of $7.95 billion, a P/E ratio of -121.47, a P/E/G ratio of 5.16 and a beta of 1.48. Charles River Laboratories International, Inc. has a 12 month low of $91.86 and a 12 month high of $230.02. The business's 50-day moving average is $157.67 and its two-hundred day moving average is $148.53.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, topping 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 company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 earnings per share. Equities research analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Redburn Atlantic raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and cut their price objective for the company from $188.00 to $182.00 in a research report on Friday, May 23rd. Wall Street Zen cut shares of Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Citigroup raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and upped their target price for the company from $150.00 to $200.00 in a research note on Wednesday, July 9th. Barclays upped their target price on shares of 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. Finally, Robert W. Baird upped their target price on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. 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. According to MarketBeat.com, Charles River Laboratories International presently has a consensus rating of "Hold" and a consensus target price of $175.69.

Insiders Place Their Bets

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the company's stock in a transaction dated Monday, August 18th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company's stock.

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).