PNC Financial Services Group Inc. Purchases 2,916 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

PNC Financial Services Group Inc. increased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,278 shares of the medical research company's stock after purchasing an additional 2,916 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Charles River Laboratories International were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Charles River Laboratories International by 135,927.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company's stock valued at $736,819,000 after buying an additional 3,738,018 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Charles River Laboratories International in the 4th quarter valued at about $42,776,000. Mizuho Securities USA LLC lifted its stake in shares of Charles River Laboratories International by 2,336.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 96,871 shares of the medical research company's stock valued at $19,081,000 after purchasing an additional 92,895 shares in the last quarter. Premier Fund Managers Ltd lifted its stake in shares of Charles River Laboratories International by 56.3% in the 3rd quarter. Premier Fund Managers Ltd now owns 250,000 shares of the medical research company's stock valued at $49,573,000 after purchasing an additional 90,000 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Charles River Laboratories International by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 482,745 shares of the medical research company's stock valued at $95,086,000 after purchasing an additional 85,759 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

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Charles River Laboratories International Stock Performance

Shares of NYSE:CRL traded up $2.01 on Tuesday, hitting $177.02. The company's stock had a trading volume of 1,011,870 shares, compared to its average volume of 711,526. Charles River Laboratories International, Inc. has a 12 month low of $150.79 and a 12 month high of $274.77. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 1,180.13, a price-to-earnings-growth ratio of 4.54 and a beta of 1.45. The stock's 50-day moving average is $167.46 and its two-hundred day moving average is $184.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.14 and a current ratio of 1.41.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.16. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.63 million. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The company's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 earnings per share. On average, equities research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Insider Activity

In other Charles River Laboratories International news, CEO James C. Foster purchased 6,075 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $165.01 per share, with a total value of $1,002,435.75. Following the completion of the transaction, the chief executive officer now owns 183,639 shares of the company's stock, valued at approximately $30,302,271.39. This represents a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Birgit Girshick purchased 1,514 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $164.63 per share, for a total transaction of $249,249.82. Following the completion of the transaction, the chief operating officer now directly owns 55,058 shares of the company's stock, valued at $9,064,198.54. This trade represents a 2.83 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRL. Barclays reduced their price objective on Charles River Laboratories International from $205.00 to $166.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target on Charles River Laboratories International from $175.00 to $165.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. The Goldman Sachs Group cut their target price on Charles River Laboratories International from $220.00 to $190.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. CLSA lowered Charles River Laboratories International from a "hold" rating to an "underperform" rating and set a $164.00 target price on the stock. in a research report on Monday, November 18th. Finally, Citigroup upgraded Charles River Laboratories International from a "sell" rating to a "neutral" rating and boosted their price target for the company from $155.00 to $175.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $198.36.

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).