Charles River Laboratories International, Inc. $CRL Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its Charles River Laboratories stake by 3,726% in the third quarter, acquiring 65,243 additional shares for a total position valued at approximately $19.8 million. Institutional investors now own 98.91% of the company.
• CRL shares opened at $316.95, near their 12-month high of $333.30, after gaining 5.6%. The company’s latest quarterly results beat expectations, with $3.02 in adjusted EPS versus the $2.77 analyst consensus, although revenue declined 2.7% year over year.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $302.33. However, company insiders sold 91,971 shares worth about $26 million over the past 90 days.

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 3,726.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,994 shares of the medical research company's stock after acquiring an additional 65,243 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.14% of Charles River Laboratories International worth $19,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRL. Continuum Advisory LLC purchased a new stake in Charles River Laboratories International during the second quarter valued at about $30,000. IFP Advisors Inc increased its stake in shares of Charles River Laboratories International by 182.8% in the third quarter. IFP Advisors Inc now owns 164 shares of the medical research company's stock worth $48,000 after purchasing an additional 106 shares in the last quarter. Activest Wealth Management increased its stake in shares of Charles River Laboratories International by 25.9% in the third quarter. Activest Wealth Management now owns 277 shares of the medical research company's stock worth $82,000 after purchasing an additional 57 shares in the last quarter. SHP Wealth Management bought a new stake in shares of Charles River Laboratories International in the fourth quarter valued at approximately $85,000. Finally, Pension & Wealth Management Advisors Inc. bought a new stake in shares of Charles River Laboratories International in the third quarter valued at approximately $151,000. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Stock Up 5.6%

CRL stock opened at $316.95 on Wednesday. The stock has a 50-day simple moving average of $290.67 and a two-hundred day simple moving average of $230.05. Charles River Laboratories International, Inc. has a twelve month low of $146.20 and a twelve month high of $333.30. The firm has a market capitalization of $15.13 billion, a PE ratio of -65.35, a PEG ratio of 2.80 and a beta of 1.40. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.92.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The medical research company reported $3.02 earnings per share (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 firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $980.53 million. During the same period in the prior year, the firm posted $3.12 earnings per share. The company's revenue for the quarter was down 2.7% on a year-over-year basis. Charles River Laboratories International has set its FY 2026 guidance at 11.150-11.450 EPS. On average, equities analysts predict that Charles River Laboratories International, Inc. will post 11.38 EPS for the current fiscal year.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, Director Nancy C. Andrews sold 573 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $285.24, for a total value of $163,442.52. Following the completion of the transaction, the director directly owned 1,438 shares of the company's stock, valued at $410,175.12. This trade represents a 28.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Victoria Creamer sold 4,179 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $259.16, for a total transaction of $1,083,029.64. Following the transaction, the executive vice president owned 30,051 shares of the company's stock, valued at $7,788,017.16. This trade represents a 12.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 91,971 shares of company stock worth $26,033,968 in the last ninety days. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. TD Cowen upped their price target on shares of Charles River Laboratories International from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, September 25th. Argus set a $330.00 price objective on shares of Charles River Laboratories International in a research note on Thursday, September 17th. Evercore set a $330.00 target price on shares of Charles River Laboratories International in a report on Friday, September 25th. Piper Sandler set a $300.00 target price on shares of Charles River Laboratories International in a report on Monday, August 10th. Finally, Robert W. Baird increased their target price on Charles River Laboratories International from $291.00 to $334.00 and gave the stock an "outperform" rating in a research report on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and one has assigned 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 $302.33.

Charles River Laboratories International Profile

Charles River Laboratories International, Inc is a contract research and laboratory services company that supports pharmaceutical, biotechnology, medical device and academic research organizations. The company provides products and services used throughout the drug-development process, from early discovery and research through preclinical testing and manufacturing support.

Its offerings include research models, laboratory animal management, discovery and safety assessment services, toxicology testing, bioanalysis, and support for biologic, cell and gene therapy programs.

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