Louisiana State Employees Retirement System Cuts Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Posted by Defense World Staff on Oct 11th, 2023

Louisiana State Employees Retirement System lessened its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL – Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,200 shares of the medical research company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Charles River Laboratories International were worth $673,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRL. Moneta Group Investment Advisors LLC acquired a new position in shares of Charles River Laboratories International in the 4th quarter valued at $298,877,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles River Laboratories International by 35.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,506,293 shares of the medical research company’s stock worth $505,821,000 after buying an additional 653,790 shares during the last quarter. Norges Bank purchased a new position in shares of Charles River Laboratories International during the 4th quarter worth approximately $97,675,000. Southpoint Capital Advisors LP purchased a new position in shares of Charles River Laboratories International during the 1st quarter worth approximately $80,728,000. Finally, Clearbridge Investments LLC boosted its position in shares of Charles River Laboratories International by 28.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,368,943 shares of the medical research company’s stock worth $388,739,000 after purchasing an additional 301,159 shares during the period. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Price Performance

Charles River Laboratories International stock opened at $195.62 on Wednesday. The stock has a market cap of $10.03 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33. The company has a fifty day simple moving average of $202.47 and a 200-day simple moving average of $201.57. Charles River Laboratories International, Inc. has a 12-month low of $181.22 and a 12-month high of $262.00. The company has a current ratio of 1.49, a quick ratio of 1.21 and a debt-to-equity ratio of 0.82.

Charles River Laboratories International (NYSE:CRL – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The medical research company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.06. Charles River Laboratories International had a net margin of 11.58% and a return on equity of 18.99%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $2.77 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts expect that Charles River Laboratories International, Inc. will post 10.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRL has been the subject of a number of research analyst reports. Guggenheim lowered their price objective on shares of Charles River Laboratories International from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, September 22nd. Bank of America decreased their price target on shares of Charles River Laboratories International from $245.00 to $230.00 in a research report on Friday, September 22nd. Robert W. Baird decreased their price target on shares of Charles River Laboratories International from $267.00 to $256.00 and set an “outperform” rating for the company in a research report on Friday, September 22nd. JPMorgan Chase & Co. raised their price target on shares of Charles River Laboratories International from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Finally, Wells Fargo & Company decreased their price target on shares of Charles River Laboratories International from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Friday, September 22nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.09.

View Our Latest Stock Report on CRL

Insider Buying and Selling

In related news, EVP Joseph W. Laplume sold 700 shares of Charles River Laboratories International stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $216.52, for a total transaction of $151,564.00. Following the sale, the executive vice president now directly owns 24,983 shares in the company, valued at approximately $5,409,319.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles River Laboratories International news, Director Richard F. Wallman acquired 1,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were bought at an average cost of $198.79 per share, for a total transaction of $198,790.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at approximately $198,790. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph W. Laplume sold 700 shares of Charles River Laboratories International stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $216.52, for a total transaction of $151,564.00. Following the completion of the transaction, the executive vice president now owns 24,983 shares in the company, valued at $5,409,319.16. The disclosure for this sale can be found here. Insiders have sold 7,934 shares of company stock worth $1,722,048 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

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).