Allspring Global Investments Holdings LLC Acquires 516,521 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Charles River Laboratories International by 29.1%, acquiring an additional 516,521 shares, bringing its total holdings to 2,291,126 shares worth approximately $353.75 million.
• Institutional investors collectively own 98.91% of Charles River Laboratories, with multiple hedge funds, such as Brooklyn Investment Group and Cromwell Holdings LLC, significantly increasing their stakes.
• Charles River Laboratories recently received varied analyst ratings, with upgrades from firms such as Barclays and Jefferies Financial Group, setting new price targets up to $195.00, while the stock currently has a consensus price target of $179.93.

Allspring Global Investments Holdings LLC grew its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 29.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,291,126 shares of the medical research company's stock after purchasing an additional 516,521 shares during the period. Charles River Laboratories International makes up about 0.6% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 27th biggest position. Allspring Global Investments Holdings LLC owned about 4.66% of Charles River Laboratories International worth $353,750,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group increased its stake in shares of Charles River Laboratories International by 93.5% in the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Cromwell Holdings LLC grew its position in Charles River Laboratories International by 542.9% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company's stock worth $27,000 after acquiring an additional 152 shares during the last quarter. HM Payson & Co. bought a new stake in Charles River Laboratories International during the 1st quarter worth $31,000. Family Legacy Financial Solutions LLC bought a new stake in Charles River Laboratories International during the 2nd quarter worth $71,000. Finally, ORG Wealth Partners LLC grew its position in Charles River Laboratories International by 49.8% during the 2nd quarter. ORG Wealth Partners LLC now owns 496 shares of the medical research company's stock worth $77,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 98.91% of the company's stock.

Insider Buying and Selling

In related news, EVP Joseph W. Laplume sold 800 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $157.60, for a total transaction of $126,080.00. Following the completion of the sale, the executive vice president owned 24,116 shares of the company's stock, valued at $3,800,681.60. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. William Blair upgraded Charles River Laboratories International from a "market perform" rating to an "outperform" rating in a research report on Monday, October 6th. Wall Street Zen lowered Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 7th. Barclays upgraded Charles River Laboratories International from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $165.00 to $195.00 in a research report on Thursday, October 2nd. Jefferies Financial Group upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $142.00 to $195.00 in a research report on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Charles River Laboratories International in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $179.93.

Charles River Laboratories International Stock Down 2.9%

Shares of CRL opened at $167.17 on Monday. The company has a market capitalization of $8.23 billion, a PE ratio of -125.69, a PEG ratio of 4.47 and a beta of 1.50. Charles River Laboratories International, Inc. has a 12 month low of $91.86 and a 12 month high of $230.02. The stock's 50-day moving average price is $159.23 and its two-hundred day moving average price is $147.48. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, beating the consensus estimate of $2.50 by $0.62. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%.The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $983.76 million. During the same quarter in the prior year, the company earned $2.80 EPS. The firm's revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Charles River Laboratories International Profile

Charles River Laboratories International, Inc 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 Solutions (Manufacturing).

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