State of Michigan Retirement System increased its stake in Charles River Laboratories International, Inc. (NYSE:CRL – Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,930 shares of the medical research company’s stock after acquiring an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Charles River Laboratories International were worth $2,811,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of CRL. CIBC Asset Management Inc grew its position in Charles River Laboratories International by 6.1% in the 4th quarter. CIBC Asset Management Inc now owns 7,127 shares of the medical research company’s stock valued at $1,553,000 after purchasing an additional 412 shares during the period. Belpointe Asset Management LLC grew its position in Charles River Laboratories International by 8.7% in the 4th quarter. Belpointe Asset Management LLC now owns 1,178 shares of the medical research company’s stock valued at $257,000 after purchasing an additional 94 shares during the period. Deutsche Bank AG grew its position in Charles River Laboratories International by 1.7% in the 4th quarter. Deutsche Bank AG now owns 188,646 shares of the medical research company’s stock valued at $41,106,000 after purchasing an additional 3,223 shares during the period. Congress Wealth Management LLC DE grew its position in Charles River Laboratories International by 4.6% in the 1st quarter. Congress Wealth Management LLC DE now owns 53,330 shares of the medical research company’s stock valued at $10,763,000 after purchasing an additional 2,358 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Charles River Laboratories International by 6.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 20,782 shares of the medical research company’s stock valued at $4,194,000 after purchasing an additional 1,278 shares during the period. Institutional investors own 98.55% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on CRL shares. Credit Suisse Group reduced their price target on shares of Charles River Laboratories International from $260.00 to $255.00 in a research report on Friday, May 12th. Wells Fargo & Company cut their price objective on shares of Charles River Laboratories International from $290.00 to $280.00 in a report on Friday, May 12th. TheStreet downgraded shares of Charles River Laboratories International from a “b-” rating to a “c” rating in a report on Thursday, May 11th. StockNews.com started coverage on shares of Charles River Laboratories International in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Citigroup downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $225.00 in a report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $251.80.
Insider Buying and Selling at Charles River Laboratories International
Charles River Laboratories International Price Performance
CRL opened at $206.20 on Friday. The firm has a market cap of $10.55 billion, a P/E ratio of 21.32, a PEG ratio of 1.45 and a beta of 1.34. The firm has a 50-day moving average of $203.18 and a 200 day moving average of $212.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.21 and a current ratio of 1.48. Charles River Laboratories International, Inc. has a fifty-two week low of $181.22 and a fifty-two week high of $262.00.
Charles River Laboratories International (NYSE:CRL – Get Free Report) last posted 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. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.10 million. Charles River Laboratories International had a net margin of 12.13% and a return on equity of 20.12%. On average, research analysts expect that Charles River Laboratories International, Inc. will post 10.32 EPS for the current year.
Charles River Laboratories International Profile
Charles River Laboratories International, Inc, a non-clinical contract research organization, 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).
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