Zions Bancorporation National Association UT Invests $1.59 Million in Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• Zions Bancorporation acquired a new stake in Charles River Laboratories, buying 10,553 shares valued at approximately $1,588,000 in the first quarter.
• Analyst ratings for Charles River Laboratories have improved, with several firms raising their price objectives, including Citigroup which lifted their target from $150.00 to $200.00.
• Charles River Laboratories reported earnings that surpassed expectations, with an EPS of $3.12 for the quarter, beating the consensus estimate by $0.62.

Zions Bancorporation National Association UT acquired a new position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,553 shares of the medical research company's stock, valued at approximately $1,588,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRL. National Bank of Canada FI lifted its holdings in shares of Charles River Laboratories International by 42.5% during the 1st quarter. National Bank of Canada FI now owns 33,987 shares of the medical research company's stock valued at $5,116,000 after purchasing an additional 10,132 shares in the last quarter. Deutsche Bank AG increased its position in shares of Charles River Laboratories International by 77.0% during the 1st quarter. Deutsche Bank AG now owns 411,419 shares of the medical research company's stock worth $61,927,000 after purchasing an additional 178,927 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Charles River Laboratories International by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 577,322 shares of the medical research company's stock valued at $86,899,000 after buying an additional 24,347 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Charles River Laboratories International in the first quarter valued at $232,000. Finally, Exencial Wealth Advisors LLC bought a new position in shares of Charles River Laboratories International in the first quarter valued at $393,000. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Joseph W. Laplume sold 400 shares of the company's stock in a transaction dated 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 directly owned 24,916 shares in the company, valued at approximately $3,738,396.64. This represents a 1.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Performance

Shares of CRL traded down $1.53 during mid-day trading on Thursday, hitting $153.47. The stock had a trading volume of 198,259 shares, compared to its average volume of 1,282,570. The firm has a market cap of $7.55 billion, a P/E ratio of -115.00, a PEG ratio of 4.87 and a beta of 1.48. The business has a fifty day moving average price of $156.34 and a 200-day moving average price of $149.06. 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 52 week low of $91.86 and a 52 week high of $230.02.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $983.76 million. During the same period in the previous year, the business earned $2.80 earnings per share. The firm's quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Analyst Ratings Changes

CRL has been the subject of a number of recent analyst reports. Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Barclays increased their price target 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. Wall Street Zen raised Charles River Laboratories International from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Redburn Atlantic raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $188.00 to $182.00 in a report on Friday, May 23rd. Finally, TD Cowen raised Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 target price on the stock in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $175.69.

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).