CIBC Asset Management Inc Boosts Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Posted by Defense World Staff on Jun 12th, 2023

CIBC Asset Management Inc increased its holdings in Charles River Laboratories International, Inc. (NYSE:CRL – Get Rating) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,127 shares of the medical research company’s stock after acquiring an additional 412 shares during the quarter. CIBC Asset Management Inc’s holdings in Charles River Laboratories International were worth $1,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Bessemer Group Inc. increased its stake in shares of Charles River Laboratories International by 83.1% in the 4th quarter. Bessemer Group Inc. now owns 1,324 shares of the medical research company’s stock worth $289,000 after acquiring an additional 601 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Charles River Laboratories International by 153.2% in the 4th quarter. Panagora Asset Management Inc. now owns 6,892 shares of the medical research company’s stock worth $1,502,000 after acquiring an additional 4,170 shares in the last quarter. Wealth Alliance increased its stake in shares of Charles River Laboratories International by 24.9% in the 4th quarter. Wealth Alliance now owns 1,770 shares of the medical research company’s stock worth $386,000 after acquiring an additional 353 shares in the last quarter. Heritage Wealth Management LLC increased its stake in shares of Charles River Laboratories International by 149.2% in the 4th quarter. Heritage Wealth Management LLC now owns 5,710 shares of the medical research company’s stock worth $1,244,000 after acquiring an additional 3,419 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Charles River Laboratories International by 7.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 236,619 shares of the medical research company’s stock worth $51,661,000 after acquiring an additional 16,445 shares in the last quarter. 97.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CRL. TheStreet lowered shares of Charles River Laboratories International from a “b-” rating to a “c” rating in a research note on Thursday, May 11th. StockNews.com started coverage on shares of Charles River Laboratories International in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Jefferies Financial Group reduced their price target on shares of Charles River Laboratories International from $233.00 to $203.00 and set a “hold” rating for the company in a research note on Tuesday, March 28th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Charles River Laboratories International from $260.00 to $250.00 in a research note on Friday, May 12th. Finally, Wells Fargo & Company reduced their price target on shares of Charles River Laboratories International from $290.00 to $280.00 in a research note on Friday, May 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.73.

Charles River Laboratories International Stock Performance

Shares of CRL traded up $9.17 on Monday, reaching $206.85. The company’s stock had a trading volume of 202,440 shares, compared to its average volume of 551,012. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.48 and a quick ratio of 1.21. The stock has a market capitalization of $10.59 billion, a P/E ratio of 20.44, a PEG ratio of 1.37 and a beta of 1.34. The stock’s 50 day simple moving average is $196.46 and its two-hundred day simple moving average is $214.87. Charles River Laboratories International, Inc. has a 12-month low of $181.22 and a 12-month high of $262.00.

Charles River Laboratories International (NYSE:CRL – Get Rating) last issued its quarterly earnings results on Thursday, May 11th. The medical research company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.19. Charles River Laboratories International had a net margin of 12.13% and a return on equity of 20.12%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.10 million. Research analysts forecast that Charles River Laboratories International, Inc. will post 10.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 345 shares of Charles River Laboratories International stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $190.39, for a total transaction of $65,684.55. Following the transaction, the executive vice president now owns 24,026 shares of the company’s stock, valued at $4,574,310.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Charles River Laboratories International Profile

(Get Rating)

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.