As of the first quarter 2023, investment management company Brown Capital Management LLC has increased its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 13.3%, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now owns 14,463 shares of the medical research company’s stock, acquiring an additional 1,699 shares during the same quarter. At the end of this period, Brown Capital Management LLC’s holdings in Charles River Laboratories International amounted to $2,919,000.
Charles River Laboratories International recently announced its quarterly earnings results on August 9th, 2023. The medical research company reported that it had posted earnings per share (EPS) of $2.69 for the quarter. This figure surpassed market expectations by $0.06 as analysts had estimated an EPS of $2.63. Additionally, Charles River Laboratories International demonstrated a return on equity of 18.99% and a net margin of 11.58%. The company generated revenue of $1.06 billion during the quarter, surpassing analysts’ predicted revenue of $1.05 billion. Comparatively, during the same period in the previous year, Charles River Laboratories International achieved an EPS of $2.77. Moreover, their quarterly revenue saw an increase of 8.9% compared to last year’s corresponding period.
Analysts predict that for the current fiscal year, Charles River Laboratories International will report earnings per share amounting to 10.48.
In other news related to the company’s stock activities and transactions made by key officials within Charles River Laboratories International; CAO Michael Gunnar Knell sold 1,471 shares on August 10th at an average price of $216.54 per share totalling to approximately $318,530.34 in value for this particular transaction. Following this sale transaction, Knell now possesses approximately 9,940 shares of the company’s stock, valuing at $2,152,407.60. This transaction was disclosed through a filing with the Securities and Exchange Commission and can be accessed via the provided hyperlink.
Another senior executive of Charles River Laboratories International, VP William D. Barbo, sold 5,763 shares on August 10th at an average price of $217.24 per share amounting to approximately $1,251,954.12 in value for this specific transaction. Following this sale, Barbo now directly owns 3,592 shares in the company valued at about $780,326.08. The details regarding this sale are available in the disclosure found on this link. Over the last quarter of trading activity alone, insiders within Charles River Laboratories International have sold a total of 7,934 shares of company stock with an estimated value of $1,722,048. Currently, insiders hold approximately 1.30% of the company’s stock ownership.
As this information from September 10th reveals that Brown Capital Management LLC has increased its position in Charles River Laboratories International and continues to show faith in the company’s potential moving forward. The recent earnings report demonstrates strong performance and surpassing expectations through positive revenue growth and impressive EPS figures. The various stock transactions executed by key officials indicate significant activity within the organization as well as confidence in its market standing.
Please note that all information provided is based on data available as of September 10th, 2023. Investors should exercise due diligence before making any investment decisions based on this article alone as market conditions may change over time leading to different outcomes for Charles River Laboratories International (NYSE:CRL).
[bs_slider_forecast ticker=”EOG”]
Activity and Analyst Views Surrounding Charles River Laboratories International
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”EOG” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Charles River Laboratories International, a medical research company, has recently seen an influx of shares being bought and sold by various hedge funds and institutional investors. Private Advisor Group LLC increased its stake in the company by 15.4% during the first quarter, while Panagora Asset Management Inc. raised its position by a significant 236.5%. Commonwealth of Pennsylvania Public School Empls Retrmt SYS and Great West Life Assurance Co. Can also added to their positions in Charles River Laboratories International.
Raymond James Trust N.A. saw the largest increase in its position, with a 33.7% rise during the first quarter. These investments by hedge funds and institutional investors have resulted in them collectively owning 98.91% of the company’s stock.
The recent opening of Charles River Laboratories International on Friday saw its stock valued at $199.74 per share. The company’s stock has fluctuated between a 12-month low of $181.22 and a high of $262.00, indicating some volatility in its value.
With a debt-to-equity ratio of 0.82, the company appears to have sound financial management principles in place. It also boasts favorable current and quick ratios of 1.49 and 1.21 respectively, indicating strong liquidity levels for future growth.
In terms of market capitalization, Charles River Laboratories International holds a sizeable value of $10.24 billion, reflecting its significant presence within the industry. The stock has a price-to-earnings ratio (P/E) of 21.18 and a price-to-earnings-growth ratio (PEG) of 1.83, suggesting that it may be undervalued relative to its earnings potential.
Various equity research analysts have shared their views on Charles River Laboratories International recently as well. StockNews.com upgraded their rating from “hold” to “buy”, signaling positive sentiment towards the company’s prospects. Citigroup, however, downgraded the stock from “buy” to “neutral” and reduced its target price. On the other hand, Bank of America raised their price target, while JPMorgan Chase & Co. upgraded their rating to “overweight”.
Overall, Charles River Laboratories International has received a mix of ratings from analysts, with three maintaining a hold rating and seven giving a buy rating to the stock. According to Bloomberg, the company currently holds an average rating of “Moderate Buy” and an average price target of $247.80.
In conclusion, Charles River Laboratories International is experiencing significant activity in its shares by hedge funds and institutional investors. While there are differing opinions among analysts regarding its future performance, investors should keep a close watch on this company as it continues to make strides in the medical research field.
(Word Count: 496)
