Assenagon Asset Management S.A. Has $14.02 Million Stake in Charles River Laboratories International, Inc. $CRL

Key Points

• Assenagon Asset Management increased its Charles River Laboratories stake by 178.3% in the second quarter, reaching 61,821 shares valued at approximately $14.02 million. Institutional investors collectively own 98.91% of the company.
• Analysts have become more bullish, with Morgan Stanley and JPMorgan raising price targets to $300 and $310, respectively. The stock carries a consensus “Moderate Buy” rating and an average target of $255.65.
• Charles River reported quarterly EPS of $3.02, beating estimates of $2.77, while revenue reached $1 billion but declined 2.7% year over year. Shares opened at $276.34, near their 52-week high, despite insiders selling roughly $21.0 million of stock over the past 90 days.

Assenagon Asset Management S.A. grew its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 178.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,821 shares of the medical research company's stock after purchasing an additional 39,610 shares during the quarter. Assenagon Asset Management S.A. owned about 0.13% of Charles River Laboratories International worth $14,020,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Trust Asset Management LLC acquired a new stake in Charles River Laboratories International in the 2nd quarter valued at approximately $129,000. GAMMA Investing LLC lifted its holdings in shares of Charles River Laboratories International by 8.9% during the second quarter. GAMMA Investing LLC now owns 3,776 shares of the medical research company's stock worth $856,000 after buying an additional 308 shares during the last quarter. Hilltop National Bank boosted its position in shares of Charles River Laboratories International by 28.7% in the second quarter. Hilltop National Bank now owns 569 shares of the medical research company's stock valued at $129,000 after acquiring an additional 127 shares during the period. NewEdge Advisors LLC boosted its position in shares of Charles River Laboratories International by 1,119.5% in the first quarter. NewEdge Advisors LLC now owns 3,195 shares of the medical research company's stock valued at $551,000 after acquiring an additional 2,933 shares during the period. Finally, Avidity Partners Management LP acquired a new stake in shares of Charles River Laboratories International in the first quarter worth $1,670,000. 98.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charles River Laboratories International

In other news, CAO Michael Gunnar Knell sold 6,645 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $260.38, for a total value of $1,730,225.10. Following the sale, the chief accounting officer directly owned 11,852 shares in the company, valued at approximately $3,086,023.76. This represents a 35.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James C. Foster sold 75,000 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $225.00, for a total value of $16,875,000.00. Following the completion of the sale, the director owned 31,596 shares in the company, valued at approximately $7,109,100. This represents a 70.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 90,870 shares of company stock worth $21,015,353. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on CRL. Morgan Stanley upped their target price on shares of Charles River Laboratories International from $260.00 to $300.00 and gave the company an "overweight" rating in a research note on Friday. Citigroup restated a "buy" rating on shares of Charles River Laboratories International in a research report on Wednesday, July 8th. JPMorgan Chase & Co. upgraded shares of Charles River Laboratories International from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $180.00 to $310.00 in a report on Thursday, August 6th. Robert W. Baird set a $291.00 target price on shares of Charles River Laboratories International in a research note on Thursday. Finally, Mizuho set a $264.00 target price on Charles River Laboratories International in a research report on Monday. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.65.

Charles River Laboratories International Trading Up 3.3%

Shares of Charles River Laboratories International stock opened at $276.34 on Tuesday. Charles River Laboratories International, Inc. has a 52-week low of $144.26 and a 52-week high of $277.07. The firm has a market capitalization of $13.19 billion, a PE ratio of -56.98, a price-to-earnings-growth ratio of 2.77 and a beta of 1.38. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.35 and a quick ratio of 1.04. The company's fifty day moving average price is $216.74 and its two-hundred day moving average price is $189.45.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The medical research company reported $3.02 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.25. Charles River Laboratories International had a negative net margin of 5.96% and a positive return on equity of 15.75%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $980.53 million. During the same period last year, the firm earned $3.12 EPS. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. Charles River Laboratories International has set its FY 2026 guidance at 11.150-11.450 EPS. On average, analysts expect that Charles River Laboratories International, Inc. will post 11.35 EPS for the current year.

Charles River Laboratories International Profile

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.

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