Charles River Laboratories International (NYSE:CRL) Price Target Cut to $250.00

Charles River Laboratories International (NYSE:CRL – Get Rating) had its price objective lowered by equities researchers at Deutsche Bank Aktiengesellschaft from $260.00 to $250.00 in a research report issued to clients and investors on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 30.73% from the company’s current price.

CRL has been the topic of several other research reports. Citigroup reduced their price target on shares of Charles River Laboratories International from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, February 23rd. StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Friday, May 5th. Morgan Stanley reduced their price objective on shares of Charles River Laboratories International from $241.00 to $230.00 and set an “equal weight” rating on the stock in a report on Thursday, February 23rd. Credit Suisse Group lowered their target price on shares of Charles River Laboratories International from $260.00 to $255.00 in a research note on Friday. Finally, Jefferies Financial Group reduced their price target on shares of Charles River Laboratories International from $233.00 to $203.00 and set a “hold” rating on the stock in a research note on Tuesday, March 28th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $260.73.

Charles River Laboratories International Price Performance

NYSE:CRL opened at $191.24 on Friday. Charles River Laboratories International has a one year low of $181.22 and a one year high of $262.00. The stock has a market cap of $9.79 billion, a PE ratio of 20.19, a P/E/G ratio of 1.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.08 and a current ratio of 1.32. The stock has a 50 day moving average price of $198.07 and a 200 day moving average price of $219.35.

Charles River Laboratories International (NYSE:CRL – Get Rating) last issued its earnings results on Wednesday, February 22nd. The medical research company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.23. Charles River Laboratories International had a return on equity of 20.98% and a net margin of 12.23%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $2.49 EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities research analysts expect that Charles River Laboratories International will post 10.19 EPS for the current fiscal year.

Insider Activity at Charles River Laboratories International

In other news, EVP Shannon M. Parisotto sold 4,558 shares of Charles River Laboratories International stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $254.41, for a total value of $1,159,600.78. Following the completion of the transaction, the executive vice president now owns 6,010 shares in the company, valued at approximately $1,529,004.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Birgit Girshick sold 3,205 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $254.39, for a total value of $815,319.95. Following the sale, the chief operating officer now directly owns 41,038 shares in the company, valued at approximately $10,439,656.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shannon M. Parisotto sold 4,558 shares of Charles River Laboratories International stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $254.41, for a total transaction of $1,159,600.78. Following the sale, the executive vice president now directly owns 6,010 shares of the company’s stock, valued at $1,529,004.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,763 shares of company stock worth $6,974,921. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Charles River Laboratories International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Charles River Laboratories International by 417.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,288 shares of the medical research company’s stock worth $253,000 after acquiring an additional 1,039 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Charles River Laboratories International by 1.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 103,472 shares of the medical research company’s stock worth $20,364,000 after buying an additional 1,539 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Charles River Laboratories International by 6.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,059 shares of the medical research company’s stock valued at $2,767,000 after buying an additional 804 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Charles River Laboratories International by 3.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 29,592 shares of the medical research company’s stock valued at $5,824,000 after buying an additional 856 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its stake in Charles River Laboratories International by 10.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 7,289 shares of the medical research company’s stock worth $1,583,000 after acquiring an additional 672 shares in the last quarter. 97.80% of the stock is currently owned by institutional investors and hedge funds.

About Charles River Laboratories International

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Charles River Laboratories International, Inc is an early-stage contract research company, which provides research models required in the research and development of new drugs, devices, and therapies. It operates through the following segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions.