Bank of America Corp DE Boosts Stock Position in Charles River Laboratories International, Inc. $CRL

Key Points

• Bank of America increased its Charles River Laboratories stake by 5% in the first quarter, acquiring 54,500 additional shares and bringing its holdings to 1.14 million shares valued at approximately $195.8 million.
• Institutional investors own 98.91% of CRL, while Director James C. Foster sold 75,000 shares for $16.9 million under a pre-arranged Rule 10b5-1 trading plan.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $220.75. The company beat quarterly EPS and revenue estimates, reporting $2.06 EPS and $995.8 million in revenue.

Bank of America Corp DE grew its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,135,027 shares of the medical research company's stock after purchasing an additional 54,500 shares during the quarter. Bank of America Corp DE owned approximately 2.36% of Charles River Laboratories International worth $195,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 acquiring an additional 47,432 shares during the period. Aberdeen Group plc boosted its position in 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 during the period. Assetmark Inc. boosted its position in Charles River Laboratories International by 17.9% during the fourth quarter. Assetmark Inc. now owns 43,809 shares of the medical research company's stock worth $8,739,000 after purchasing an additional 6,666 shares during the period. Eos Management L.P. purchased a new position in shares of Charles River Laboratories International in the fourth quarter worth about $839,000. Finally, M&T Bank Corp increased 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 purchasing an additional 26,161 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles River Laboratories International

In other Charles River Laboratories International news, Director James C. Foster sold 75,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $225.00, for a total transaction of $16,875,000.00. Following the transaction, the director directly owned 31,596 shares in the company, valued at $7,109,100. This trade represents a 70.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Royal Bank Of Canada started coverage on shares of Charles River Laboratories International in a research note on Tuesday, April 14th. They set an "outperform" rating and a $215.00 price target on the stock. Mizuho boosted their target price on shares of Charles River Laboratories International from $192.00 to $230.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Morgan Stanley increased their target price on Charles River Laboratories International from $220.00 to $260.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Sanford C. Bernstein set a $250.00 price target on Charles River Laboratories International in a report on Wednesday, July 1st. Finally, Weiss Ratings upgraded Charles River Laboratories International from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 1st. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Charles River Laboratories International currently has a consensus rating of "Moderate Buy" and an average target price of $220.75.

Charles River Laboratories International Stock Performance

Charles River Laboratories International stock opened at $233.62 on Wednesday. Charles River Laboratories International, Inc. has a fifty-two week low of $144.26 and a fifty-two week high of $242.73. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.03 and a current ratio of 1.36. The stock has a market cap of $11.25 billion, a P/E ratio of -62.13, a price-to-earnings-growth ratio of 2.57 and a beta of 1.38. The firm's fifty day moving average price is $209.54 and its 200-day moving average price is $188.12.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its 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. Charles River Laboratories International had a negative net margin of 4.59% and a positive return on equity of 15.36%. The company had revenue of $995.83 million during the quarter, compared to analyst estimates of $977.46 million. During the same period in the previous year, the business earned $2.34 earnings per share. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. Charles River Laboratories International has set its FY 2026 guidance at 10.800-11.300 EPS. On average, equities research analysts expect that Charles River Laboratories International, Inc. will post 11.05 earnings per share for the current fiscal 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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