ProShare Advisors LLC Has $1.67 Million Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Posted by on Apr 26th, 2023

ProShare Advisors LLC lifted its holdings in Charles River Laboratories International, Inc. (NYSE:CRL – Get Rating) by 10.6% during the 4th quarter, Holdings Channel reports. The fund owned 7,639 shares of the medical research company’s stock after acquiring an additional 733 shares during the quarter. ProShare Advisors LLC’s holdings in Charles River Laboratories International were worth $1,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CRL. Pinnacle Financial Partners Inc. acquired a new position in shares of Charles River Laboratories International in the 3rd quarter worth approximately $26,000. Concord Wealth Partners bought a new position in Charles River Laboratories International in the 4th quarter worth approximately $33,000. Trustcore Financial Services LLC raised its position in Charles River Laboratories International by 72.0% in the 3rd quarter. Trustcore Financial Services LLC now owns 172 shares of the medical research company’s stock worth $34,000 after purchasing an additional 72 shares during the last quarter. Huntington National Bank raised its position in Charles River Laboratories International by 53.7% in the 3rd quarter. Huntington National Bank now owns 189 shares of the medical research company’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Allworth Financial LP raised its position in Charles River Laboratories International by 60.0% in the 4th quarter. Allworth Financial LP now owns 168 shares of the medical research company’s stock worth $37,000 after purchasing an additional 63 shares during the last quarter. 97.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRL has been the subject of several recent research reports. Credit Suisse Group dropped their target price on shares of Charles River Laboratories International from $280.00 to $260.00 and set an “outperform” rating for the company in a research report on Thursday, February 23rd. StockNews.com lowered shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, April 6th. Morgan Stanley reduced their price objective on shares of Charles River Laboratories International from $241.00 to $230.00 and set an “equal weight” rating for the company in a research note on Thursday, February 23rd. Citigroup dropped their target price on shares of Charles River Laboratories International from $280.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. Finally, Robert W. Baird upped their target price on shares of Charles River Laboratories International from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, January 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International has a consensus rating of “Moderate Buy” and an average price target of $267.75.

Insider Activity

In other news, CEO James C. Foster sold 20,000 shares of Charles River Laboratories International stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $250.00, for a total transaction of $5,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 216,594 shares in the company, valued at $54,148,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Shannon M. Parisotto sold 4,558 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $254.41, for a total transaction of $1,159,600.78. Following the transaction, the executive vice president now directly owns 6,010 shares in the company, valued at $1,529,004.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James C. Foster sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $250.00, for a total transaction of $5,000,000.00. Following the completion of the transaction, the chief executive officer now owns 216,594 shares in the company, valued at $54,148,500. The disclosure for this sale can be found here. Insiders sold 27,763 shares of company stock worth $6,974,921 over the last three months. 1.30% of the stock is currently owned by insiders.

Charles River Laboratories International Trading Down 8.0 %

CRL opened at $187.60 on Wednesday. Charles River Laboratories International, Inc. has a 1-year low of $181.36 and a 1-year high of $265.00. The company has a current ratio of 1.32, a quick ratio of 1.08 and a debt-to-equity ratio of 0.91. The company has a market cap of $9.60 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.35. The company has a fifty day moving average price of $209.56 and a two-hundred day moving average price of $220.62.

Charles River Laboratories International (NYSE:CRL – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The medical research company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.23. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.04 billion. Charles River Laboratories International had a net margin of 12.23% and a return on equity of 20.98%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.49 earnings per share. Analysts predict that Charles River Laboratories International, Inc. will post 10.2 EPS for the current fiscal year.

Charles River Laboratories International Company Profile

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Charles River Laboratories International, Inc is an early-stage contract research company, which provides research models required in the research and development of new drugs, devices, and therapies. It operates through the following segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions.

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Institutional Ownership by Quarter for Charles River Laboratories International (NYSE:CRL)

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