Charles River Laboratories Intl. (NYSE:CRL) Upgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Charles River Laboratories Intl. (NYSE:CRL) from a sell rating to a hold rating in a research note issued to investors on Friday morning, 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. “

Several other brokerages also recently commented on CRL. Leerink Swann assumed coverage on Charles River Laboratories Intl. in a report on Monday, June 10th. They set an outperform rating on the stock. Wolfe Research assumed coverage on Iqvia in a report on Tuesday, April 2nd. They set a market perform rating on the stock. Evercore ISI reaffirmed an outperform rating and set a $160.00 target price on shares of Charles River Laboratories Intl. in a report on Tuesday, April 30th. Finally, Svb Leerink assumed coverage on Charles River Laboratories Intl. in a report on Monday, June 10th. They set an outperform rating and a $155.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $147.79.

Shares of CRL opened at $136.46 on Friday. The firm has a market cap of $6.61 billion, a P/E ratio of 22.63, a PEG ratio of 1.75 and a beta of 1.10. Charles River Laboratories Intl. has a 12 month low of $103.00 and a 12 month high of $149.07. The stock’s 50-day moving average is $135.60. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.63 and a quick ratio of 1.39.

Charles River Laboratories Intl. (NYSE:CRL) last announced its earnings results on Tuesday, May 7th. The medical research company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The firm had revenue of $604.57 million for the quarter, compared to the consensus estimate of $587.65 million. Charles River Laboratories Intl. had a return on equity of 23.03% and a net margin of 9.63%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. Equities research analysts forecast that Charles River Laboratories Intl. will post 6.47 EPS for the current fiscal year.

In other news, Director George Massaro sold 1,002 shares of Charles River Laboratories Intl. stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $131.38, for a total value of $131,642.76. Following the completion of the transaction, the director now directly owns 11,204 shares of the company’s stock, valued at approximately $1,471,981.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William D. Barbo sold 4,905 shares of Charles River Laboratories Intl. stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $125.16, for a total value of $613,909.80. Following the completion of the transaction, the insider now directly owns 25,859 shares of the company’s stock, valued at $3,236,512.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,047 shares of company stock valued at $1,168,322. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of CRL. BlackRock Inc. increased its position in Charles River Laboratories Intl. by 1.3% in the 1st quarter. BlackRock Inc. now owns 4,587,801 shares of the medical research company’s stock valued at $666,379,000 after buying an additional 57,789 shares in the last quarter. AQR Capital Management LLC increased its position in Charles River Laboratories Intl. by 18.0% in the 1st quarter. AQR Capital Management LLC now owns 2,082,761 shares of the medical research company’s stock valued at $301,042,000 after buying an additional 317,001 shares in the last quarter. Norges Bank bought a new stake in Charles River Laboratories Intl. in the 4th quarter valued at about $61,460,000. Geode Capital Management LLC increased its position in Charles River Laboratories Intl. by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 457,529 shares of the medical research company’s stock valued at $51,782,000 after buying an additional 28,878 shares in the last quarter. Finally, Northern Trust Corp increased its position in Charles River Laboratories Intl. by 0.9% in the 4th quarter. Northern Trust Corp now owns 372,922 shares of the medical research company’s stock valued at $42,208,000 after buying an additional 3,193 shares in the last quarter. 94.41% of the stock is owned by hedge funds and other institutional investors.

About Charles River Laboratories Intl.

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates in three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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