Charles River Laboratories International (NYSE:CRL) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Charles River Laboratories International (NYSE:CRL) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks reports.

CRL has been the subject of several other reports. Barclays raised their price target on Charles River Laboratories International from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, September 25th. Piper Sandler set a $300.00 price objective on Charles River Laboratories International in a report on Monday, August 10th. Evercore set a $330.00 target price on Charles River Laboratories International in a research note on Friday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Charles River Laboratories International in a report on Monday, September 28th. Finally, Robert W. Baird raised their target price on Charles River Laboratories International from $291.00 to $334.00 and gave the company an “outperform” rating in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $302.33.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $350.30 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.35. The firm has a market cap of $16.72 billion, a P/E ratio of -72.23, a P/E/G ratio of 3.16 and a beta of 1.36. The firm’s 50 day moving average price is $303.97 and its 200-day moving average price is $223.61. Charles River Laboratories International has a one year low of $146.20 and a one year high of $379.63.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, November 4th. The medical research company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.12. The firm had revenue of $982.73 million during the quarter, compared to the consensus estimate of $960.36 million. Charles River Laboratories International had a negative net margin of 5.96% and a positive return on equity of 15.75%. As a group, equities research analysts predict that Charles River Laboratories International will post 11.38 EPS for the current year.

Insider Activity at Charles River Laboratories International

In other Charles River Laboratories International news, CEO Birgit Girshick sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $279.90, for a total value of $1,819,350.00. Following the completion of the transaction, the chief executive officer owned 36,013 shares of the company’s stock, valued at $10,080,038.70. This trade represents a 15.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James C. Foster sold 24,042 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $350.00, for a total transaction of $8,414,700.00. Following the completion of the transaction, the director directly owned 31,596 shares of the company’s stock, valued at $11,058,600. This represents a 43.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 113,123 shares of company stock worth $33,864,118 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi boosted its position in shares of Charles River Laboratories International by 175.2% during the 1st quarter. Amundi now owns 773,315 shares of the medical research company’s stock worth $133,397,000 after acquiring an additional 492,301 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Charles River Laboratories International by 14.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,652,484 shares of the medical research company’s stock worth $285,001,000 after acquiring an additional 210,260 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Charles River Laboratories International by 230.9% during the third quarter. Assenagon Asset Management S.A. now owns 204,537 shares of the medical research company’s stock worth $59,044,000 after purchasing an additional 142,716 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Charles River Laboratories International by 2,268.2% during the third quarter. State of Alaska Department of Revenue now owns 111,781 shares of the medical research company’s stock worth $32,977,000 after purchasing an additional 107,061 shares during the last quarter. Finally, Ranger Investment Management L.P. purchased a new stake in Charles River Laboratories International during the first quarter worth approximately $12,198,000. 98.91% of the stock is owned by institutional investors and hedge funds.

About Charles River Laboratories International

Charles River Laboratories International, Inc is a contract research and laboratory services company that supports pharmaceutical, biotechnology, medical device and academic research organizations. The company provides products and services used throughout the drug-development process, from early discovery and research through preclinical testing and manufacturing support.

Its offerings include research models, laboratory animal management, discovery and safety assessment services, toxicology testing, bioanalysis, and support for biologic, cell and gene therapy programs.