Norges Bank Takes $96.77 Million Position in Charles River Laboratories International, Inc. $CRL

Key Points

• Norges Bank disclosed a new position in Charles River Laboratories International, buying 485,087 shares worth about $96.77 million and taking a 0.99% stake in the company.
• The stock was down 2.3% on Friday, opening at $181.46, even as the company reported quarterly earnings that beat estimates with EPS of $2.06 versus $1.96 expected.
• Analyst sentiment remains constructive, with several firms raising targets and ratings; the stock now carries an average “Moderate Buy” rating and an average price target of $208.50.

Norges Bank acquired a new stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 485,087 shares of the medical research company's stock, valued at approximately $96,765,000. Norges Bank owned 0.99% of Charles River Laboratories International as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Amica Mutual Insurance Co. raised its position in shares of Charles River Laboratories International by 3.9% during the 4th quarter. Amica Mutual Insurance Co. now owns 23,030 shares of the medical research company's stock worth $4,594,000 after acquiring an additional 867 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Charles River Laboratories International during the 4th quarter worth about $104,000. Geode Capital Management LLC raised its position in shares of Charles River Laboratories International by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,276,502 shares of the medical research company's stock worth $254,186,000 after acquiring an additional 9,756 shares in the last quarter. King Luther Capital Management Corp raised its position in shares of Charles River Laboratories International by 37.8% during the 4th quarter. King Luther Capital Management Corp now owns 64,761 shares of the medical research company's stock worth $12,919,000 after acquiring an additional 17,781 shares in the last quarter. Finally, Cooke & Bieler LP raised its position in shares of Charles River Laboratories International by 0.6% during the 4th quarter. Cooke & Bieler LP now owns 607,565 shares of the medical research company's stock worth $121,197,000 after acquiring an additional 3,688 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company's stock.

Charles River Laboratories International Trading Down 2.3%

CRL opened at $181.46 on Friday. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of -48.26, a price-to-earnings-growth ratio of 2.12 and a beta of 1.46. Charles River Laboratories International, Inc. has a 52 week low of $143.06 and a 52 week high of $228.88. The business's 50 day moving average is $171.37 and its two-hundred day moving average is $181.57. The company has a quick ratio of 1.03, a current ratio of 1.36 and a debt-to-equity ratio of 0.90.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The medical research company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.96 by $0.10. The company had revenue of $995.83 million for the quarter, compared to analyst estimates of $977.46 million. Charles River Laboratories International had a positive return on equity of 15.36% and a negative net margin of 4.59%.The firm's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 earnings per share. Charles River Laboratories International has set its FY 2026 guidance at 10.800-11.300 EPS. On average, research analysts predict that Charles River Laboratories International, Inc. will post 11.04 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. CLSA raised Charles River Laboratories International from a "hold" rating to an "outperform" rating and raised their target price for the stock from $167.00 to $219.00 in a research report on Friday, May 29th. Royal Bank Of Canada assumed coverage on Charles River Laboratories International in a research report on Tuesday, April 14th. They set an "outperform" rating and a $215.00 target price on the stock. Barclays raised their target price on Charles River Laboratories International from $210.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Robert W. Baird set a $213.00 target price on Charles River Laboratories International in a research report on Friday, May 8th. Finally, UBS Group raised their target price on Charles River Laboratories International from $170.00 to $175.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $208.50.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc is a leading provider of research models and preclinical and clinical support services for the pharmaceutical, biotechnology and medical device industries. The company's core offerings include discovery, safety assessment, toxicology, and pathology services, as well as supply of laboratory animals and related diagnostics. Services extend across in vivo and in vitro testing, biologics testing, and support for advanced therapies, helping clients accelerate drug development from early discovery through regulatory submission.

Founded in 1947 in Wilmington, Massachusetts, Charles River has grown through strategic investments and acquisitions to establish a broad portfolio of capabilities.

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