Charles River Laboratories International, Inc. (NYSE:CRL) Position Trimmed by Swiss National Bank

Key Points

• Swiss National Bank has reduced its holdings in Charles River Laboratories by 32.1%, now owning approximately 99,100 shares valued at around $14.9 million.
• Multiple analysts have upgraded their ratings on CRL, with price targets ranging from $160.00 to $190.00, indicating a generally positive outlook for the company's stock.
• Charles River Laboratories reported earnings of $3.12 per share for the last quarter, exceeding expectations, with revenues totaling $1.03 billion.

Swiss National Bank trimmed its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 32.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,100 shares of the medical research company's stock after selling 46,800 shares during the period. Swiss National Bank owned about 0.20% of Charles River Laboratories International worth $14,917,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Charles River Laboratories International in the 4th quarter worth approximately $42,776,000. Sterling Capital Management LLC boosted its stake in Charles River Laboratories International by 53.8% in the 4th quarter. Sterling Capital Management LLC now owns 3,086 shares of the medical research company's stock worth $570,000 after purchasing an additional 1,080 shares during the period. XTX Topco Ltd acquired a new position in Charles River Laboratories International in the 4th quarter worth approximately $539,000. Canada Post Corp Registered Pension Plan acquired a new position in Charles River Laboratories International in the 4th quarter worth approximately $114,000. Finally, Guggenheim Capital LLC boosted its stake in Charles River Laboratories International by 9.6% in the 4th quarter. Guggenheim Capital LLC now owns 8,253 shares of the medical research company's stock worth $1,524,000 after purchasing an additional 725 shares during the period. 98.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRL shares. Evercore ISI raised their price objective on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. raised their price objective on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Charles River Laboratories International from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, TD Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 target price for the company in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $175.69.

Insider Buying and Selling

In related news, EVP Joseph W. Laplume sold 400 shares of Charles River Laboratories International stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.04, for a total value of $60,016.00. Following the transaction, the executive vice president owned 24,916 shares in the company, valued at $3,738,396.64. This trade represents a 1.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

Charles River Laboratories International Stock Up 1.5%

Charles River Laboratories International stock opened at $154.98 on Thursday. The company has a market capitalization of $7.63 billion, a P/E ratio of -116.53, a P/E/G ratio of 4.87 and a beta of 1.48. The firm's fifty day simple moving average is $156.34 and its 200-day simple moving average is $149.06. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Charles River Laboratories International, Inc. has a 1-year low of $91.86 and a 1-year high of $230.02.

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

About Charles River Laboratories International

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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