KBC Group NV Lowers Stake in Charles River Laboratories International, Inc. $CRL

KBC Group NV reduced its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 98.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,366 shares of the medical research company’s stock after selling 74,940 shares during the period. KBC Group NV’s holdings in Charles River Laboratories International were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Charles River Laboratories International by 5.1% in the first quarter. Wellington Management Group LLP now owns 4,285,012 shares of the medical research company’s stock worth $644,980,000 after acquiring an additional 208,586 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Charles River Laboratories International by 29.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,291,126 shares of the medical research company’s stock valued at $353,750,000 after buying an additional 516,521 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Charles River Laboratories International by 8.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,950,273 shares of the medical research company’s stock worth $293,555,000 after purchasing an additional 144,732 shares during the last quarter. Invesco Ltd. increased its position in Charles River Laboratories International by 7.2% during the first quarter. Invesco Ltd. now owns 1,108,358 shares of the medical research company’s stock worth $166,830,000 after buying an additional 74,178 shares during the period. Finally, Ariel Investments LLC increased its holdings in shares of Charles River Laboratories International by 3.1% in the 1st quarter. Ariel Investments LLC now owns 1,100,776 shares of the medical research company’s stock valued at $165,689,000 after acquiring an additional 33,449 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

Analyst Upgrades and Downgrades

CRL has been the topic of several recent research reports. Morgan Stanley boosted their price target on Charles River Laboratories International from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Baird R W upgraded shares of Charles River Laboratories International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Barclays boosted their target price on Charles River Laboratories International from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. increased their price target on shares of Charles River Laboratories International from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Argus set a $200.00 price objective on Charles River Laboratories International in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles River Laboratories International has a consensus rating of “Moderate Buy” and an average price target of $190.86.

Charles River Laboratories International Price Performance

CRL stock opened at $162.83 on Wednesday. Charles River Laboratories International, Inc. has a 12-month low of $91.86 and a 12-month high of $203.01. The stock has a 50-day moving average price of $168.87 and a two-hundred day moving average price of $158.21. The company has a market cap of $8.01 billion, a PE ratio of -122.43, a price-to-earnings-growth ratio of 4.83 and a beta of 1.53. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, November 5th. The medical research company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.11. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $990.43 million. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 EPS. As a group, research analysts predict that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Charles River Laboratories International Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).