Avidity Partners Management LP Buys New Shares in Charles River Laboratories International, Inc. $CRL

Key Points

• Avidity Partners Management initiated a position in Charles River Laboratories with 10,000 shares valued at approximately $1.67 million. Institutional investors and hedge funds collectively own 98.91% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy, four Hold, and one Sell rating. The stock has an average price target of $220.75 and a “Moderate Buy” consensus rating.
• Charles River exceeded quarterly estimates, reporting $2.06 in EPS versus the $1.96 consensus and revenue of $995.83 million. However, director James C. Foster sold 75,000 shares worth $16.88 million under a pre-arranged Rule 10b5-1 plan.

Avidity Partners Management LP bought a new position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,000 shares of the medical research company's stock, valued at approximately $1,670,000.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Charles River Laboratories International by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,887,175 shares of the medical research company's stock valued at $1,174,374,000 after buying an additional 47,432 shares during the period. Aberdeen Group plc lifted its stake in shares of Charles River Laboratories International by 1,090.5% during the fourth quarter. Aberdeen Group plc now owns 97,001 shares of the medical research company's stock worth $19,350,000 after purchasing an additional 88,853 shares in the last quarter. Assetmark Inc. boosted its holdings in Charles River Laboratories International by 17.9% in the 4th quarter. Assetmark Inc. now owns 43,809 shares of the medical research company's stock worth $8,739,000 after acquiring an additional 6,666 shares during the period. Eos Management L.P. purchased a new position in Charles River Laboratories International in the 4th quarter valued at about $839,000. Finally, M&T Bank Corp lifted its stake in shares of Charles River Laboratories International by 1,424.9% in the fourth quarter. M&T Bank Corp now owns 27,997 shares of the medical research company's stock worth $5,585,000 after acquiring an additional 26,161 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays increased their price objective on shares of Charles River Laboratories International from $210.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Sanford C. Bernstein set a $250.00 target price on shares of Charles River Laboratories International in a research note on Wednesday, July 1st. BNP Paribas Exane set a $250.00 price objective on shares of Charles River Laboratories International in a research note on Wednesday, July 1st. Citigroup reiterated a "buy" rating on shares of Charles River Laboratories International in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Charles River Laboratories International from $165.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 13th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Charles River Laboratories International has an average rating of "Moderate Buy" and an average target price of $220.75.

Insider Activity

In other news, Director James C. Foster sold 75,000 shares of the business's stock in a transaction 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 sale, the director owned 31,596 shares in the company, valued at approximately $7,109,100. The trade was a 70.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Performance

Shares of NYSE CRL opened at $232.49 on Friday. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of -61.83, a PEG ratio of 2.61 and a beta of 1.40. The business has a fifty day simple moving average of $206.60 and a 200 day simple moving average of $188.14. Charles River Laboratories International, Inc. has a one year low of $144.26 and a one year high of $242.73. The company has a current ratio of 1.36, a quick ratio of 1.03 and a debt-to-equity ratio of 0.90.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The medical research company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.10. The firm had revenue of $995.83 million during the quarter, compared to analyst estimates of $977.46 million. Charles River Laboratories International had a negative net margin of 4.59% and a positive return on equity of 15.36%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.34 earnings per share. Charles River Laboratories International has set its FY 2026 guidance at 10.800-11.300 EPS. Sell-side analysts expect that Charles River Laboratories International, Inc. will post 11.05 EPS for the current year.

About Charles River Laboratories International

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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