Zacks Investment Research downgraded shares of Charles River Laboratories International (NYSE:CRL) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Their dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. At Charles River, they are passionate about their role in improving the quality of people’s lives. Their mission, their excellent science and strong sense of purpose guide in all that they do, and they approach each day with the knowledge that their work helps to improve the health and well-being of many across the globe. Charles River Laboratories International, Inc. service areas are Basic research, discovery, safety and efficacy, clinical support and manufacturing. “

A number of other equities analysts have also recently commented on CRL. Argus boosted their price target on Charles River Laboratories International from $235.00 to $265.00 and gave the stock a buy rating in a report on Tuesday, December 22nd. Morgan Stanley upped their target price on Charles River Laboratories International from $280.00 to $350.00 and gave the stock an overweight rating in a report on Thursday, February 25th. Truist upped their target price on Charles River Laboratories International from $256.00 to $324.00 in a report on Thursday, February 18th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut Charles River Laboratories International from a buy rating to a neutral rating and lowered their target price for the stock from $270.00 to $250.00 in a report on Wednesday, December 16th. Finally, Credit Suisse Group upped their target price on Charles River Laboratories International from $259.00 to $301.00 and gave the stock a neutral rating in a report on Thursday, February 18th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Charles River Laboratories International currently has a consensus rating of Buy and an average target price of $260.00.

Charles River Laboratories International stock opened at $296.53 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.22 and a current ratio of 1.45. Charles River Laboratories International has a 52 week low of $133.57 and a 52 week high of $307.44. The stock has a market capitalization of $14.89 billion, a P/E ratio of 49.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.12. The stock has a fifty day moving average of $286.14 and a 200-day moving average of $256.86.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Tuesday, February 16th. The medical research company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.28. Charles River Laboratories International had a return on equity of 22.41% and a net margin of 10.68%. The company had revenue of $790.99 million during the quarter, compared to analysts’ expectations of $755.98 million. On average, research analysts forecast that Charles River Laboratories International will post 7.87 earnings per share for the current year.

In related news, CAO Michael Gunnar Knell sold 410 shares of the company’s stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $290.99, for a total transaction of $119,305.90. Following the sale, the chief accounting officer now owns 4,198 shares in the company, valued at approximately $1,221,576.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Birgit Girshick sold 18,311 shares of the company’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $302.61, for a total value of $5,541,091.71. Following the sale, the vice president now owns 30,059 shares in the company, valued at approximately $9,096,153.99. The disclosure for this sale can be found here. Insiders sold a total of 105,518 shares of company stock worth $30,292,255 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

A number of large investors have recently made changes to their positions in CRL. Guggenheim Capital LLC boosted its holdings in Charles River Laboratories International by 4.1% in the third quarter. Guggenheim Capital LLC now owns 6,883 shares of the medical research company’s stock worth $1,558,000 after acquiring an additional 273 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Charles River Laboratories International by 3.3% in the third quarter. ProShare Advisors LLC now owns 4,215 shares of the medical research company’s stock worth $954,000 after purchasing an additional 136 shares during the last quarter. Morgan Stanley raised its stake in shares of Charles River Laboratories International by 24.0% in the third quarter. Morgan Stanley now owns 81,970 shares of the medical research company’s stock worth $18,563,000 after purchasing an additional 15,891 shares during the last quarter. Peapack Gladstone Financial Corp purchased a new stake in shares of Charles River Laboratories International in the third quarter worth approximately $212,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Charles River Laboratories International in the third quarter worth approximately $2,214,000. Institutional investors and hedge funds own 92.30% of the company’s stock.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc, an early-stage contract research company, 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 Support (Manufacturing).

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