Assenagon Asset Management S.A. Trims Holdings in Charles River Laboratories International, Inc. $CRL

Assenagon Asset Management S.A. decreased its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 94.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,289 shares of the medical research company’s stock after selling 549,216 shares during the period. Assenagon Asset Management S.A. owned 0.07% of Charles River Laboratories International worth $5,052,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in shares of Charles River Laboratories International by 407.0% in the first quarter. Goldman Sachs Group Inc. now owns 997,488 shares of the medical research company’s stock worth $150,142,000 after purchasing an additional 800,762 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Charles River Laboratories International by 29.1% during 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 in the last quarter. Norges Bank bought a new position in Charles River Laboratories International in the 2nd quarter worth $76,952,000. Royal Bank of Canada increased its stake in Charles River Laboratories International by 304.7% in the 1st quarter. Royal Bank of Canada now owns 627,710 shares of the medical research company’s stock worth $94,484,000 after buying an additional 472,606 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Charles River Laboratories International by 1,179.5% in the 2nd quarter. National Bank of Canada FI now owns 434,868 shares of the medical research company’s stock worth $65,983,000 after buying an additional 400,881 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Performance

NYSE:CRL opened at $197.08 on Monday. The company has a market cap of $9.70 billion, a price-to-earnings ratio of -126.33, a PEG ratio of 6.96 and a beta of 1.63. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $200.58. The stock’s 50 day simple moving average is $179.84 and its two-hundred day simple moving average is $165.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.10.

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

Analysts Set New Price Targets

Several brokerages have recently commented on CRL. JPMorgan Chase & Co. boosted their price objective 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. Morgan Stanley set a $185.00 price target on Charles River Laboratories International in a report on Monday, December 1st. Wall Street Zen upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Sunday. Bank of America raised shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Monday, December 15th. Finally, Jefferies Financial Group raised shares of Charles River Laboratories International from a “hold” rating to a “buy” rating and boosted their target price for the stock from $142.00 to $195.00 in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles River Laboratories International has an average rating of “Moderate Buy” and an average price target of $195.93.

Charles River Laboratories International 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.