Treasurer of the State of North Carolina Grows Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Posted by Defense World Staff on Aug 6th, 2023

Treasurer of the State of North Carolina boosted its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL – Free Report) by 0.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 22,754 shares of the medical research company’s stock after buying an additional 150 shares during the period. Treasurer of the State of North Carolina’s holdings in Charles River Laboratories International were worth $4,592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Texas Permanent School Fund raised its holdings in Charles River Laboratories International by 0.6% during the 4th quarter. Texas Permanent School Fund now owns 7,045 shares of the medical research company’s stock valued at $1,535,000 after buying an additional 41 shares during the period. Wetherby Asset Management Inc. raised its holdings in Charles River Laboratories International by 2.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 1,793 shares of the medical research company’s stock valued at $509,000 after buying an additional 44 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Charles River Laboratories International by 1.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,090 shares of the medical research company’s stock valued at $891,000 after buying an additional 48 shares during the period. Future Fund LLC raised its holdings in Charles River Laboratories International by 3.7% during the 4th quarter. Future Fund LLC now owns 1,462 shares of the medical research company’s stock valued at $319,000 after buying an additional 52 shares during the period. Finally, Toroso Investments LLC increased its stake in Charles River Laboratories International by 4.8% in the third quarter. Toroso Investments LLC now owns 1,141 shares of the medical research company’s stock worth $225,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Charles River Laboratories International Price Performance

Shares of CRL stock opened at $206.90 on Friday. Charles River Laboratories International, Inc. has a 1-year low of $181.22 and a 1-year high of $262.00. The stock’s 50-day moving average is $205.80 and its 200 day moving average is $210.75. The company has a market cap of $10.59 billion, a P/E ratio of 21.40, a PEG ratio of 1.39 and a beta of 1.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.48 and a quick ratio of 1.21.

Charles River Laboratories International (NYSE:CRL – Get Free Report) last issued its quarterly earnings data on Thursday, May 11th. The medical research company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.19. Charles River Laboratories International had a return on equity of 20.12% and a net margin of 12.13%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.10 million. Research analysts predict that Charles River Laboratories International, Inc. will post 10.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CRL shares. Wells Fargo & Company reduced their target price on Charles River Laboratories International from $290.00 to $280.00 in a research note on Friday, May 12th. Credit Suisse Group reduced their target price on Charles River Laboratories International from $260.00 to $255.00 in a research note on Friday, May 12th. TheStreet lowered Charles River Laboratories International from a “b-” rating to a “c” rating in a research note on Thursday, May 11th. Citigroup lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $225.00 in a research note on Monday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Charles River Laboratories International from $260.00 to $250.00 in a research note on Friday, May 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.80.

Insiders Place Their Bets

In other news, EVP Joseph W. Laplume sold 345 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $190.39, for a total value of $65,684.55. Following the completion of the transaction, the executive vice president now directly owns 24,026 shares in the company, valued at $4,574,310.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Charles River Laboratories International Company Profile

(Free Report)

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).