Professional Advisory Services Inc. Invests $12.52 Million in Charles River Laboratories International, Inc. (NYSE:CRL)

Professional Advisory Services Inc. acquired a new position in Charles River Laboratories International, Inc. (NYSE:CRL) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 59,545 shares of the medical research company’s stock, valued at approximately $12,519,000. Professional Advisory Services Inc. owned 0.12% of Charles River Laboratories International as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in shares of Charles River Laboratories International in the first quarter worth about $25,000. Desjardins Global Asset Management Inc. bought a new position in shares of Charles River Laboratories International in the first quarter worth about $30,000. Tsfg LLC boosted its stake in shares of Charles River Laboratories International by 49.1% in the second quarter. Tsfg LLC now owns 158 shares of the medical research company’s stock worth $33,000 after acquiring an additional 52 shares during the period. Covestor Ltd boosted its stake in Charles River Laboratories International by 100.0% during the first quarter. Covestor Ltd now owns 174 shares of the medical research company’s stock valued at $49,000 after buying an additional 87 shares during the last quarter. Finally, HighMark Wealth Management LLC bought a new position in Charles River Laboratories International during the first quarter valued at approximately $45,000. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Trading Up 0.1 %

Shares of NYSE CRL traded up $0.12 during midday trading on Friday, hitting $207.88. The company’s stock had a trading volume of 628,936 shares, compared to its average volume of 517,901. The company has a current ratio of 1.49, a quick ratio of 1.21 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $206.17 and its two-hundred day moving average is $202.90. Charles River Laboratories International, Inc. has a 12-month low of $181.22 and a 12-month high of $262.00. The firm has a market cap of $10.66 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 1.83 and a beta of 1.33.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, August 9th. The medical research company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.06. Charles River Laboratories International had a return on equity of 18.99% and a net margin of 11.58%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $2.77 earnings per share. Charles River Laboratories International’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts expect that Charles River Laboratories International, Inc. will post 10.48 EPS for the current year.

Wall Street Analysts Forecast Growth

CRL has been the subject of a number of research reports. StockNews.com raised Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Sunday, September 10th. Citigroup lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $260.00 to $225.00 in a research note on Monday, July 10th. TD Cowen initiated coverage on Charles River Laboratories International in a research note on Wednesday. They set a “market perform” rating and a $212.00 price target for the company. JPMorgan Chase & Co. increased their price target on Charles River Laboratories International from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Finally, Bank of America upped their price objective on Charles River Laboratories International from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.55.

Insider Buying and Selling

In related news, CAO Michael Gunnar Knell sold 1,471 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $216.54, for a total value of $318,530.34. Following the transaction, the chief accounting officer now owns 9,940 shares of the company’s stock, valued at $2,152,407.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Charles River Laboratories International news, VP William D. Barbo sold 5,763 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $217.24, for a total transaction of $1,251,954.12. Following the sale, the vice president now owns 3,592 shares of the company’s stock, valued at approximately $780,326.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Gunnar Knell sold 1,471 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $216.54, for a total value of $318,530.34. Following the sale, the chief accounting officer now directly owns 9,940 shares in the company, valued at approximately $2,152,407.60. The disclosure for this sale can be found here. Insiders have sold a total of 7,934 shares of company stock valued at $1,722,048 over the last quarter. 1.30% of the stock is owned by corporate insiders.

About Charles River Laboratories International

Charles River Laboratories International, Inc, a non-clinical contract research organization, 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).