Charles River Laboratories Intl. (NYSE:CRL) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Charles River Laboratories Intl. (NYSE:CRL) from a sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Their dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. At Charles River, they are passionate about their role in improving the quality of people’s lives. Their mission, their excellent science and strong sense of purpose guide in all that they do, and they approach each day with the knowledge that their work helps to improve the health and well-being of many across the globe. Charles River Laboratories International, Inc. service areas are Basic research, discovery, safety and efficacy, clinical support and manufacturing. “

Other analysts also recently issued research reports about the company. Leerink Swann started coverage on Charles River Laboratories Intl. in a research note on Monday, June 10th. They issued an outperform rating on the stock. Evercore ISI restated an outperform rating and issued a $160.00 price target on shares of Charles River Laboratories Intl. in a research note on Tuesday, April 30th. Wolfe Research started coverage on Charles River Laboratories Intl. in a research note on Tuesday, April 2nd. They issued a market perform rating on the stock. Finally, Svb Leerink started coverage on Charles River Laboratories Intl. in a research note on Monday, June 10th. They issued an outperform rating and a $155.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $147.79.

Shares of Charles River Laboratories Intl. stock traded down $0.79 during midday trading on Wednesday, hitting $133.12. The company had a trading volume of 319,978 shares, compared to its average volume of 272,497. The company has a quick ratio of 1.39, a current ratio of 1.59 and a debt-to-equity ratio of 1.47. The firm has a market cap of $6.56 billion, a PE ratio of 22.08, a P/E/G ratio of 1.73 and a beta of 1.10. The firm has a 50 day moving average price of $137.65. Charles River Laboratories Intl. has a 52-week low of $103.00 and a 52-week high of $149.07.

Charles River Laboratories Intl. (NYSE:CRL) last posted its quarterly earnings results on Wednesday, July 31st. The medical research company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.08. The company had revenue of $657.60 million for the quarter, compared to the consensus estimate of $662.61 million. Charles River Laboratories Intl. had a return on equity of 22.01% and a net margin of 8.94%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. As a group, equities analysts expect that Charles River Laboratories Intl. will post 6.51 earnings per share for the current fiscal year.

In other Charles River Laboratories Intl. news, Director George Massaro sold 3,140 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $134.64, for a total transaction of $422,769.60. Following the sale, the director now directly owns 15,344 shares in the company, valued at approximately $2,065,916.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William D. Barbo sold 4,905 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $125.16, for a total value of $613,909.80. Following the sale, the insider now owns 25,859 shares in the company, valued at $3,236,512.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,047 shares of company stock worth $1,168,322. Company insiders own 1.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CRL. Amundi Pioneer Asset Management Inc. grew its position in shares of Charles River Laboratories Intl. by 67.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 42,660 shares of the medical research company’s stock valued at $4,828,000 after purchasing an additional 17,222 shares during the period. Legal & General Group Plc grew its position in shares of Charles River Laboratories Intl. by 3.1% in the 4th quarter. Legal & General Group Plc now owns 61,935 shares of the medical research company’s stock valued at $7,010,000 after purchasing an additional 1,872 shares during the period. Amalgamated Bank grew its position in shares of Charles River Laboratories Intl. by 37.9% in the 4th quarter. Amalgamated Bank now owns 10,554 shares of the medical research company’s stock valued at $1,195,000 after purchasing an additional 2,901 shares during the period. Norges Bank acquired a new position in shares of Charles River Laboratories Intl. in the 4th quarter valued at approximately $61,460,000. Finally, Geode Capital Management LLC grew its position in shares of Charles River Laboratories Intl. by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 457,529 shares of the medical research company’s stock valued at $51,782,000 after purchasing an additional 28,878 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

Charles River Laboratories Intl. Company Profile

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates in three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

Further Reading: Cost of Goods Sold (COGS)

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