Connor Clark & Lunn Investment Management Ltd. Raises Position in Charles River Laboratories International, Inc. $CRL

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 670.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,268 shares of the medical research company’s stock after purchasing an additional 166,429 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Charles River Laboratories International were worth $29,021,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its holdings in Charles River Laboratories International by 93.5% in the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Cromwell Holdings LLC boosted its stake in Charles River Laboratories International by 542.9% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company’s stock worth $27,000 after purchasing an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Charles River Laboratories International in the 2nd quarter worth approximately $56,000. Bayforest Capital Ltd purchased a new stake in Charles River Laboratories International during the 2nd quarter worth approximately $63,000. Finally, Family Legacy Financial Solutions LLC acquired a new position in Charles River Laboratories International during the 2nd quarter valued at approximately $71,000. 98.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction on 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 SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Charles River Laboratories International Stock Down 1.7%

Shares of CRL opened at $167.99 on Monday. Charles River Laboratories International, Inc. has a 52 week low of $91.86 and a 52 week high of $222.10. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of -126.31, a PEG ratio of 4.83 and a beta of 1.53. The stock’s 50-day moving average price is $168.00 and its 200-day moving average price is $155.67.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, November 5th. The medical research company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.11. 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 billion during the quarter, compared to analysts’ expectations of $990.43 million. During the same period last year, the business earned $2.59 earnings per share. Charles River Laboratories International’s quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts predict that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Charles River Laboratories International from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird upgraded Charles River Laboratories International from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $178.00 to $199.00 in a research note on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of Charles River Laboratories International in a research note on Wednesday, October 8th. William Blair raised Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a report on Monday, October 6th. Finally, Barclays lifted their target price on Charles River Laboratories International from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Charles River Laboratories International presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.93.

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).