Truist Financial Corp Lowers Stake in Charles River Laboratories International, Inc. $CRL

Truist Financial Corp cut its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 38.8% in the third quarter, HoldingsChannel.com reports. The firm owned 4,438 shares of the medical research company’s stock after selling 2,818 shares during the quarter. Truist Financial Corp’s holdings in Charles River Laboratories International were worth $694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new position in shares of Charles River Laboratories International during the 2nd quarter valued at $29,000. Geneos Wealth Management Inc. raised its holdings in Charles River Laboratories International by 98.0% during the second quarter. Geneos Wealth Management Inc. now owns 293 shares of the medical research company’s stock valued at $44,000 after acquiring an additional 145 shares during the period. Allworth Financial LP raised its holdings in Charles River Laboratories International by 172.7% during the second quarter. Allworth Financial LP now owns 300 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 190 shares during the period. SJS Investment Consulting Inc. purchased a new position in shares of Charles River Laboratories International in the third quarter valued at about $48,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Charles River Laboratories International in the second quarter worth about $56,000. 98.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRL has been the subject of several research analyst reports. Robert W. Baird set a $224.00 target price on Charles River Laboratories International in a research report on Friday, January 9th. Argus set a $200.00 price objective on shares of Charles River Laboratories International in a report on Monday, November 17th. Mizuho set a $215.00 price objective on shares of Charles River Laboratories International in a research report on Friday, January 9th. Morgan Stanley set a $185.00 target price on shares of Charles River Laboratories International in a report on Monday, December 1st. Finally, Evercore upped their target price on shares of Charles River Laboratories International from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 13th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $209.46.

Charles River Laboratories International Stock Down 2.4%

Shares of CRL opened at $181.16 on Wednesday. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of -116.13, a price-to-earnings-growth ratio of 5.57 and a beta of 1.63. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $228.88. The business’s 50 day simple moving average is $204.63 and its 200-day simple moving average is $180.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.10.

About Charles River Laboratories International

Charles River Laboratories International, Inc is a leading provider of research models and preclinical and clinical support services for the pharmaceutical, biotechnology and medical device industries. The company’s core offerings include discovery, safety assessment, toxicology, and pathology services, as well as supply of laboratory animals and related diagnostics. Services extend across in vivo and in vitro testing, biologics testing, and support for advanced therapies, helping clients accelerate drug development from early discovery through regulatory submission.

Founded in 1947 in Wilmington, Massachusetts, Charles River has grown through strategic investments and acquisitions to establish a broad portfolio of capabilities.