The Manufacturers Life Insurance Company Grows Position in Charles River Laboratories International, Inc. $CRL

Key Points

• The Manufacturers Life Insurance Company increased its Charles River Laboratories stake by 17.4% in the first quarter, bringing its holdings to 43,471 shares valued at approximately $7.5 million. Institutional investors collectively own 98.91% of the company.
• Director James C. Foster sold 75,000 shares for $16.875 million under a pre-arranged Rule 10b5-1 plan, reducing his direct position by 70.36%; insiders own 1.30% of the stock.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $220.75. Charles River reported quarterly EPS of $2.06, ahead of estimates, while revenue rose 1.2% year over year to $995.83 million.

The Manufacturers Life Insurance Company raised its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 17.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,471 shares of the medical research company's stock after purchasing an additional 6,444 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Charles River Laboratories International worth $7,499,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Maverick Capital Ltd. acquired a new position in shares of Charles River Laboratories International in the 1st quarter valued at $1,411,000. Lazard Asset Management LLC increased its holdings in shares of Charles River Laboratories International by 13.2% during the 1st quarter. Lazard Asset Management LLC now owns 22,637 shares of the medical research company's stock worth $3,905,000 after buying an additional 2,644 shares during the last quarter. Castleark Management LLC raised its position in shares of Charles River Laboratories International by 22.3% in the 1st quarter. Castleark Management LLC now owns 39,435 shares of the medical research company's stock worth $6,803,000 after buying an additional 7,190 shares during the period. ABS Direct Equity Fund LLC purchased a new position in shares of Charles River Laboratories International in the 1st quarter worth $172,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Charles River Laboratories International by 59.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,097 shares of the medical research company's stock valued at $534,000 after acquiring an additional 1,152 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

Insider Activity

In other news, Director James C. Foster sold 75,000 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $225.00, for a total value of $16,875,000.00. Following the transaction, the director directly owned 31,596 shares in the company, valued at approximately $7,109,100. This trade represents a 70.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays upped their price target on Charles River Laboratories International from $210.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Mizuho lifted their price target on shares of Charles River Laboratories International from $192.00 to $230.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Robert W. Baird set a $213.00 price objective on shares of Charles River Laboratories International in a research note on Friday, May 8th. Weiss Ratings raised shares of Charles River Laboratories International from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 1st. Finally, Citigroup restated a "buy" rating on shares of Charles River Laboratories International in a report on Wednesday, July 8th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $220.75.

Charles River Laboratories International Stock Performance

Charles River Laboratories International stock opened at $233.62 on Wednesday. Charles River Laboratories International, Inc. has a 12-month low of $144.26 and a 12-month high of $242.73. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.36 and a quick ratio of 1.03. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of -62.13, a price-to-earnings-growth ratio of 2.57 and a beta of 1.38. The firm's fifty day moving average price is $209.54 and its 200 day moving average price is $188.12.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its earnings results on Thursday, May 7th. The medical research company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%.Charles River Laboratories International's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 EPS. Charles River Laboratories International has set its FY 2026 guidance at 10.800-11.300 EPS. On average, research analysts forecast that Charles River Laboratories International, Inc. will post 11.05 EPS for the current fiscal year.

About Charles River Laboratories International

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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