Charles River Laboratories International, Inc. $CRL Stock Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management cut its Charles River Laboratories position by 10.1% in the third quarter, selling 9,259 shares and retaining 82,373 shares valued at approximately $24.3 million. Institutional investors collectively own 98.91% of CRL.
• Several analysts remain positive on CRL, including UBS with a new “buy” rating and a $357 price target. The stock has a consensus “Moderate Buy” rating and an average target of $300.11.
• CRL shares recently fell 2.4% to $287.95, despite the company beating quarterly earnings estimates with $3.02 EPS versus $2.77 expected. Revenue declined 2.7% year over year to approximately $1 billion.

Confluence Investment Management LLC reduced its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,373 shares of the medical research company's stock after selling 9,259 shares during the quarter. Confluence Investment Management LLC owned about 0.17% of Charles River Laboratories International worth $24,301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC acquired a new stake in Charles River Laboratories International during the second quarter worth about $30,000. SHP Wealth Management acquired a new position in shares of Charles River Laboratories International in the 4th quarter valued at about $85,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Charles River Laboratories International during the 4th quarter worth about $104,000. Hilltop National Bank grew its holdings in shares of Charles River Laboratories International by 28.7% during the 2nd quarter. Hilltop National Bank now owns 569 shares of the medical research company's stock worth $129,000 after purchasing an additional 127 shares during the period. Finally, Trust Asset Management LLC acquired a new stake in Charles River Laboratories International during the 2nd quarter worth approximately $129,000. Institutional investors and hedge funds own 98.91% of the company's stock.

Insider Buying and Selling

In related news, EVP Victoria Creamer sold 4,179 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $259.16, for a total value of $1,083,029.64. Following the transaction, the executive vice president owned 30,051 shares in the company, valued at approximately $7,788,017.16. The trade was a 12.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michael Knell sold 6,645 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $260.38, for a total value of $1,730,225.10. Following the completion of the transaction, the chief accounting officer directly owned 11,852 shares of the company's stock, valued at $3,086,023.76. This represents a 35.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 90,990 shares of company stock worth $25,731,388 over the last quarter. Company insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

CRL has been the topic of several research reports. UBS Group initiated coverage on shares of Charles River Laboratories International in a report on Wednesday. They issued a "buy" rating and a $357.00 price target on the stock. BNP Paribas Exane set a $250.00 price objective on shares of Charles River Laboratories International in a research report on Wednesday, July 1st. Citigroup reissued a "buy" rating on shares of Charles River Laboratories International in a research note on Wednesday, July 8th. Robert W. Baird lifted their target price on shares of Charles River Laboratories International from $291.00 to $334.00 and gave the company an "outperform" rating in a report on Friday, September 25th. Finally, Mizuho upped their price target on shares of Charles River Laboratories International from $264.00 to $295.00 and gave the stock a "neutral" rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $300.11.

Charles River Laboratories International Stock Down 2.4%

Shares of CRL traded down $7.06 during mid-day trading on Thursday, reaching $287.95. 226,961 shares of the stock traded hands, compared to its average volume of 925,277. The stock has a fifty day simple moving average of $275.03 and a 200 day simple moving average of $216.10. Charles River Laboratories International, Inc. has a 12-month low of $146.20 and a 12-month high of $303.30. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.92. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of -59.34, a P/E/G ratio of 2.76 and a beta of 1.40.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The medical research company reported $3.02 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $980.53 million. During the same period in the prior year, the firm earned $3.12 earnings per share. The business's quarterly revenue was down 2.7% compared to the same quarter last year. Charles River Laboratories International has set its FY 2026 guidance at 11.150-11.450 EPS. Sell-side analysts expect that Charles River Laboratories International, Inc. will post 11.42 EPS for the current fiscal year.

About Charles River Laboratories International

Charles River Laboratories International, Inc is a contract research organization that provides products and services to support pharmaceutical, biotechnology and academic research. The company helps customers discover, develop and manufacture new medicines, vaccines and other healthcare products.

Its offerings include research models and related services, preclinical drug discovery, pharmacology, toxicology, bioanalysis and safety assessment. Charles River also provides laboratory and manufacturing solutions for biologics, cell and gene therapies, microbial testing and other specialized life sciences applications.

Founded in 1947, Charles River Laboratories serves customers worldwide through operations across North America, Europe and Asia.

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