Voya Investment Management LLC Cuts Stake in Charles River Laboratories International, Inc. $CRL

Voya Investment Management LLC lessened its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 23.1% during the 3rd quarter, Holdings Channel reports. The firm owned 10,450 shares of the medical research company’s stock after selling 3,134 shares during the period. Voya Investment Management LLC’s holdings in Charles River Laboratories International were worth $1,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cromwell Holdings LLC grew its holdings in Charles River Laboratories International by 542.9% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company’s stock valued at $27,000 after buying an additional 152 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Charles River Laboratories International during the second quarter worth $29,000. Geneos Wealth Management Inc. grew its stake in Charles River Laboratories International by 98.0% during the second quarter. Geneos Wealth Management Inc. now owns 293 shares of the medical research company’s stock valued at $44,000 after acquiring an additional 145 shares in the last quarter. Allworth Financial LP increased its holdings in Charles River Laboratories International by 172.7% in the 2nd quarter. Allworth Financial LP now owns 300 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 190 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Charles River Laboratories International in the 2nd quarter worth $56,000. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Price Performance

NYSE:CRL opened at $203.20 on Tuesday. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of -130.25, a PEG ratio of 6.39 and a beta of 1.63. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.10. The business has a 50 day simple moving average of $183.23 and a 200-day simple moving average of $168.03. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $205.00.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, November 5th. The medical research company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.11. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $990.43 million. Charles River Laboratories International had a positive return on equity of 15.78% and a negative net margin of 2.07%.Charles River Laboratories International’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.59 EPS. Equities analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CRL shares. Barclays raised their price objective on Charles River Laboratories International from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. William Blair raised Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a research note on Monday, October 6th. Jefferies Financial Group raised Charles River Laboratories International from a “hold” rating to a “buy” rating and upped their price objective for the stock from $142.00 to $195.00 in a report on Tuesday, September 9th. JPMorgan Chase & Co. increased their target price on Charles River Laboratories International from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, December 15th. Finally, Evercore ISI boosted their price target on shares of Charles River Laboratories International from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.93.

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.