abrdn plc Acquires New Shares in Charles River Laboratories International, Inc. (NYSE:CRL)

abrdn plc acquired a new stake in Charles River Laboratories International, Inc. (NYSE:CRL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,125 shares of the medical research company’s stock, valued at approximately $4,856,000.

Several other institutional investors have also made changes to their positions in CRL. William Blair Investment Management LLC increased its holdings in shares of Charles River Laboratories International by 657.7% in the first quarter. William Blair Investment Management LLC now owns 992,180 shares of the medical research company’s stock worth $287,564,000 after acquiring an additional 861,234 shares in the last quarter. Viking Global Investors LP bought a new stake in shares of Charles River Laboratories International in the first quarter worth about $130,051,000. BlackRock Inc. increased its holdings in shares of Charles River Laboratories International by 4.1% in the first quarter. BlackRock Inc. now owns 5,591,211 shares of the medical research company’s stock worth $1,620,503,000 after acquiring an additional 221,598 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Charles River Laboratories International by 15.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,261,319 shares of the medical research company’s stock worth $365,568,000 after acquiring an additional 169,486 shares in the last quarter. Finally, Redmile Group LLC bought a new stake in shares of Charles River Laboratories International in the first quarter worth about $48,309,000. Institutional investors own 93.28% of the company’s stock.

Several equities research analysts have issued reports on CRL shares. Zacks Investment Research downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating and set a $458.00 price target for the company. in a report on Wednesday, September 15th. Argus upped their price objective on Charles River Laboratories International from $390.00 to $480.00 and gave the stock a “buy” rating in a research report on Monday, August 23rd. upped their price objective on Charles River Laboratories International from $350.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, May 28th. Credit Suisse Group upped their price objective on Charles River Laboratories International from $385.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, August 5th. Finally, Citigroup upped their price objective on Charles River Laboratories International from $350.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, May 28th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $400.79.

Shares of NYSE CRL opened at $446.34 on Thursday. The stock has a 50 day moving average price of $420.18 and a 200 day moving average price of $360.80. Charles River Laboratories International, Inc. has a 52 week low of $205.97 and a 52 week high of $450.84. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.15 and a current ratio of 1.36. The stock has a market capitalization of $22.49 billion, a PE ratio of 57.52, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Tuesday, August 3rd. The medical research company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.38 by $0.23. Charles River Laboratories International had a return on equity of 23.59% and a net margin of 12.10%. The firm had revenue of $914.61 million during the quarter, compared to analysts’ expectations of $880.72 million. During the same period in the prior year, the firm posted $1.58 earnings per share. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. As a group, research analysts forecast that Charles River Laboratories International, Inc. will post 10.25 EPS for the current year.

In other news, VP William D. Barbo sold 12,387 shares of the firm’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $402.82, for a total value of $4,989,731.34. Following the completion of the sale, the vice president now directly owns 4,371 shares of the company’s stock, valued at $1,760,726.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Victoria L. Creamer sold 6,917 shares of the firm’s stock in a transaction that occurred on Monday, August 16th. The shares were sold at an average price of $415.24, for a total value of $2,872,215.08. Following the completion of the sale, the executive vice president now directly owns 8,531 shares of the company’s stock, valued at $3,542,412.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,900 shares of company stock valued at $16,673,320. Insiders own 1.20% of the company’s stock.

Charles River Laboratories International Profile

Charles River Laboratories International, Inc is an early-stage contract research company, which provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and academic institutions. It operates through the following segments: Research Models & Services, Discovery & Safety Assessment and Manufacturing Support.

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Institutional Ownership by Quarter for Charles River Laboratories International (NYSE:CRL)

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