California State Teachers Retirement System Acquires 12,838,761 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• California State Teachers Retirement System dramatically increased its Charles River Laboratories stake by purchasing 12.84 million shares in the second quarter, bringing its ownership to 27.01%, valued at approximately $2.92 billion.
• Institutional investors own 98.91% of CRL, while company insiders sold approximately $42.6 million worth of shares during the last quarter, including sales by the CEO and an executive vice president under pre-arranged trading plans.
• Charles River reported quarterly EPS of $3.02, beating estimates of $2.77, and revenue of about $1 billion; analysts maintain a “Moderate Buy” consensus with an average price target of $259.44.

California State Teachers Retirement System raised its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 22,535.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,895,733 shares of the medical research company's stock after purchasing an additional 12,838,761 shares during the quarter. California State Teachers Retirement System owned 27.01% of Charles River Laboratories International worth $2,924,623,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC bought a new stake in shares of Charles River Laboratories International in the 2nd quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new stake in shares of Charles River Laboratories International during the fourth quarter valued at approximately $42,000. Sfam LLC bought a new stake in shares of Charles River Laboratories International during the fourth quarter valued at approximately $43,000. Geneos Wealth Management Inc. raised its stake in shares of Charles River Laboratories International by 98.0% in the second quarter. Geneos Wealth Management Inc. now owns 293 shares of the medical research company's stock valued at $44,000 after purchasing an additional 145 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new position in shares of Charles River Laboratories International in the fourth quarter valued at $46,000. 98.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charles River Laboratories International

In related news, EVP Shannon Parisotto sold 2,039 shares of Charles River Laboratories International stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $294.12, for a total transaction of $599,710.68. Following the completion of the sale, the executive vice president directly owned 4,807 shares of the company's stock, valued at $1,413,834.84. The trade was a 29.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Birgit Girshick sold 6,500 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $279.90, for a total value of $1,819,350.00. Following the completion of the transaction, the chief executive officer directly owned 36,013 shares in the company, valued at $10,080,038.70. The trade was a 15.29% decrease in their position. 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. Insiders sold 165,990 shares of company stock valued at $42,606,388 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. CLSA downgraded shares of Charles River Laboratories International from an "outperform" rating to a "hold" rating and set a $219.00 price target on the stock. in a research note on Monday, July 20th. Evercore restated an "outperform" rating on shares of Charles River Laboratories International in a research note on Wednesday, August 5th. Piper Sandler set a $300.00 price objective on shares of Charles River Laboratories International in a report on Monday, August 10th. Citigroup reissued a "buy" rating on shares of Charles River Laboratories International in a research report on Wednesday, July 8th. Finally, Mizuho set a $264.00 price objective on Charles River Laboratories International in a report on Monday, August 10th. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.44.

Charles River Laboratories International Trading Down 2.0%

CRL opened at $272.68 on Friday. The firm has a 50 day simple moving average of $259.22 and a 200 day simple moving average of $205.07. Charles River Laboratories International, Inc. has a fifty-two week low of $144.26 and a fifty-two week high of $303.30. The company has a market cap of $13.02 billion, a price-to-earnings ratio of -56.22, a price-to-earnings-growth ratio of 2.73 and a beta of 1.40. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.35 and a quick ratio of 1.04.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The medical research company reported $3.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.25. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $980.53 million. Charles River Laboratories International had a negative net margin of 5.96% and a positive return on equity of 15.75%. The business's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $3.12 earnings per share. Charles River Laboratories International has set its FY 2026 guidance at 11.150-11.450 EPS. On average, sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 11.33 earnings per share for the current year.

Charles River Laboratories International Profile

Charles River Laboratories International, Inc is a global provider of drug discovery, nonclinical development and laboratory services for pharmaceutical, biotechnology and medical device companies, as well as academic and government research institutions. The company supports customers throughout the development process, from early-stage research and target identification through preclinical testing and regulatory preparation.

Its offerings include research models and related products, discovery and development services, toxicology and safety assessment, efficacy testing, bioanalysis, and laboratory testing.

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