Charles River Laboratories International (NYSE:CRL) Downgraded to “Hold” at Zacks Investment Research


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Zacks Investment Research lowered shares of Charles River Laboratories International (NYSE:CRL) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Their dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. At Charles River, they are passionate about their role in improving the quality of people’s lives. Their mission, their excellent science and strong sense of purpose guide in all that they do, and they approach each day with the knowledge that their work helps to improve the health and well-being of many across the globe. Charles River Laboratories International, Inc. service areas are Basic research, discovery, safety and efficacy, clinical support and manufacturing. “

CRL has been the subject of several other reports. Truist increased their price objective on Charles River Laboratories International from $256.00 to $324.00 in a research note on Thursday, February 18th. Smith Barney Citigroup lowered Charles River Laboratories International from a buy rating to a neutral rating in a research note on Wednesday, December 16th. Credit Suisse Group raised their target price on Charles River Laboratories International from $259.00 to $301.00 and gave the company a neutral rating in a research note on Thursday, February 18th. Argus raised their target price on Charles River Laboratories International from $235.00 to $265.00 and gave the company a buy rating in a research note on Tuesday, December 22nd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered Charles River Laboratories International from a buy rating to a neutral rating and lowered their target price for the company from $270.00 to $250.00 in a research note on Wednesday, December 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $260.00.

Charles River Laboratories International stock opened at $296.53 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.45 and a quick ratio of 1.22. The stock has a fifty day moving average price of $286.14 and a two-hundred day moving average price of $256.86. Charles River Laboratories International has a 52-week low of $133.57 and a 52-week high of $307.44. The firm has a market capitalization of $14.89 billion, a P/E ratio of 49.42, a P/E/G ratio of 2.19 and a beta of 1.12.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings data on Tuesday, February 16th. The medical research company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.28. Charles River Laboratories International had a return on equity of 22.41% and a net margin of 10.68%. The firm had revenue of $790.99 million during the quarter, compared to analyst estimates of $755.98 million. On average, equities research analysts predict that Charles River Laboratories International will post 7.87 EPS for the current fiscal year.

In other Charles River Laboratories International news, VP Birgit Girshick sold 18,311 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $302.61, for a total transaction of $5,541,091.71. Following the transaction, the vice president now owns 30,059 shares in the company, valued at $9,096,153.99. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James C. Foster sold 37,731 shares of the firm’s stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $281.27, for a total value of $10,612,598.37. Following the transaction, the chief executive officer now owns 221,151 shares in the company, valued at approximately $62,203,141.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,518 shares of company stock worth $30,292,255. Company insiders own 1.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CRL. Norges Bank bought a new position in Charles River Laboratories International during the fourth quarter worth about $120,525,000. Morgan Stanley raised its position in shares of Charles River Laboratories International by 127.4% during the fourth quarter. Morgan Stanley now owns 186,410 shares of the medical research company’s stock worth $46,577,000 after purchasing an additional 104,440 shares during the period. Polar Asset Management Partners Inc. raised its position in shares of Charles River Laboratories International by 138.1% during the third quarter. Polar Asset Management Partners Inc. now owns 166,700 shares of the medical research company’s stock worth $37,749,000 after purchasing an additional 96,700 shares during the period. Clearbridge Investments LLC raised its position in shares of Charles River Laboratories International by 67.3% during the fourth quarter. Clearbridge Investments LLC now owns 226,105 shares of the medical research company’s stock worth $56,495,000 after purchasing an additional 90,937 shares during the period. Finally, FIL Ltd raised its position in shares of Charles River Laboratories International by 9.0% during the fourth quarter. FIL Ltd now owns 810,907 shares of the medical research company’s stock worth $202,613,000 after purchasing an additional 67,238 shares during the period. Hedge funds and other institutional investors own 92.30% of the company’s stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc, an early-stage contract research company, 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 Support (Manufacturing).

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