Charles River Laboratories International, Inc. (NYSE:CRL) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 119.2% during the 1st quarter, HoldingsChannel reports. The firm owned 154,022 shares of the medical research company’s stock after acquiring an additional 83,770 shares during the quarter. Point72 Asset Management L.P.’s holdings in Charles River Laboratories International were worth $44,640,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC boosted its stake in Charles River Laboratories International by 657.7% in the first quarter. William Blair Investment Management LLC now owns 992,180 shares of the medical research company’s stock valued at $287,564,000 after acquiring an additional 861,234 shares during the period. Norges Bank acquired a new stake in Charles River Laboratories International in the fourth quarter worth approximately $120,525,000. Viking Global Investors LP acquired a new stake in Charles River Laboratories International in the first quarter worth approximately $130,051,000. BlackRock Inc. lifted its position in Charles River Laboratories International by 4.1% in the first quarter. BlackRock Inc. now owns 5,591,211 shares of the medical research company’s stock worth $1,620,503,000 after purchasing an additional 221,598 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Charles River Laboratories International by 15.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,261,319 shares of the medical research company’s stock worth $365,568,000 after purchasing an additional 169,486 shares during the period. 92.50% of the stock is currently owned by institutional investors.

CRL opened at $385.77 on Thursday. Charles River Laboratories International, Inc. has a one year low of $192.13 and a one year high of $386.57. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.77 and a quick ratio of 1.53. The firm’s 50 day moving average is $354.90. The company has a market capitalization of $19.38 billion, a PE ratio of 52.27, a P/E/G ratio of 2.76 and a beta of 1.14.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Monday, May 3rd. The medical research company reported $2.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.34. Charles River Laboratories International had a net margin of 12.33% and a return on equity of 22.54%. The business had revenue of $824.60 million for the quarter, compared to analysts’ expectations of $798.52 million. During the same period in the prior year, the firm earned $1.84 earnings per share. Charles River Laboratories International’s revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 9.99 EPS for the current fiscal year.

Several research analysts have issued reports on the company. upped their price target on Charles River Laboratories International from $350.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, May 28th. KeyCorp boosted their target price on shares of Charles River Laboratories International from $340.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, May 14th. Zacks Investment Research upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating and set a $361.00 price target on the stock in a report on Tuesday, May 18th. Credit Suisse Group upped their price objective on shares of Charles River Laboratories International from $352.00 to $385.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Truist Securities upped their price objective on shares of Charles River Laboratories International from $324.00 to $369.00 and gave the stock a “buy” rating in a report on Tuesday, May 25th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $347.85.

In other Charles River Laboratories International news, CAO Michael Gunnar Knell sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $329.76, for a total value of $263,808.00. Following the transaction, the chief accounting officer now directly owns 4,563 shares of the company’s stock, valued at $1,504,694.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David Ross Smith sold 3,305 shares of the firm’s stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $340.01, for a total transaction of $1,123,733.05. Following the completion of the transaction, the chief financial officer now directly owns 18,167 shares in the company, valued at $6,176,961.67. The disclosure for this sale can be found here. Insiders have sold 24,923 shares of company stock worth $8,397,380 over the last three months. 1.20% of the stock is owned by insiders.

Charles River Laboratories International 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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Institutional Ownership by Quarter for Charles River Laboratories International (NYSE:CRL)

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