Charles River Laboratories International, Inc. $CRL Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp has significantly reduced its stake in Charles River Laboratories International by 76.4% during the second quarter, resulting in ownership of only 7,256 shares valued at approximately $1,101,000.
• Multiple analysts have provided varied ratings for the company, with William Blair upgrading CRL from "market perform" to "outperform," while Weiss Ratings maintains a "sell" stance.
• Charles River Laboratories reported earnings of $3.12 per share, surpassing analyst expectations, with revenue reaching $1.03 billion for the quarter.

Truist Financial Corp lowered its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 76.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,256 shares of the medical research company's stock after selling 23,542 shares during the quarter. Truist Financial Corp's holdings in Charles River Laboratories International were worth $1,101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group boosted its position in Charles River Laboratories International by 93.5% during the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock valued at $27,000 after purchasing an additional 86 shares during the period. HM Payson & Co. acquired a new position in shares of Charles River Laboratories International during the first quarter valued at $31,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Charles River Laboratories International during the second quarter valued at about $71,000. ORG Wealth Partners LLC raised its stake in shares of Charles River Laboratories International by 49.8% during the second quarter. ORG Wealth Partners LLC now owns 496 shares of the medical research company's stock valued at $77,000 after purchasing an additional 165 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in Charles River Laboratories International by 41.9% in the second quarter. Harbor Investment Advisory LLC now owns 555 shares of the medical research company's stock worth $84,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 98.91% of the company's stock.

Insider Activity at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 800 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $157.60, for a total transaction of $126,080.00. Following the completion of the sale, the executive vice president directly owned 24,116 shares of the company's stock, valued at $3,800,681.60. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on CRL shares. William Blair upgraded shares of Charles River Laboratories International from a "market perform" rating to an "outperform" rating in a research report on Monday, October 6th. Wall Street Zen cut Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. upped their target price on Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Jefferies Financial Group upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating and lifted their price target for the company from $142.00 to $195.00 in a research report on Tuesday, September 9th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Charles River Laboratories International in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $179.93.

Charles River Laboratories International Trading Down 2.9%

Shares of Charles River Laboratories International stock opened at $167.17 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of -125.69, a price-to-earnings-growth ratio of 4.47 and a beta of 1.50. The business has a fifty day simple moving average of $159.23 and a 200-day simple moving average of $147.48. Charles River Laboratories International, Inc. has a fifty-two week low of $91.86 and a fifty-two week high of $230.02.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.62. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $983.76 million. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%.The company's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.80 earnings per share. On average, equities analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Charles River Laboratories International Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).

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