Rakuten Investment Management Inc. Invests $12.06 Million in Charles River Laboratories International, Inc. $CRL

Rakuten Investment Management Inc. bought a new position in Charles River Laboratories International, Inc. (NYSE:CRL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 77,056 shares of the medical research company’s stock, valued at approximately $12,056,000.

A number of other large investors have also recently added to or reduced their stakes in CRL. Exchange Traded Concepts LLC boosted its position in shares of Charles River Laboratories International by 1.3% during the second quarter. Exchange Traded Concepts LLC now owns 5,742 shares of the medical research company’s stock worth $871,000 after buying an additional 76 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Charles River Laboratories International by 4.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,120 shares of the medical research company’s stock worth $332,000 after acquiring an additional 85 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Charles River Laboratories International by 1.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 7,142 shares of the medical research company’s stock valued at $1,072,000 after purchasing an additional 86 shares during the last quarter. WESCAP Management Group Inc. lifted its position in shares of Charles River Laboratories International by 3.8% in the second quarter. WESCAP Management Group Inc. now owns 2,443 shares of the medical research company’s stock worth $371,000 after purchasing an additional 89 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Charles River Laboratories International by 0.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 16,829 shares of the medical research company’s stock worth $2,553,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 98.91% of the company’s stock.

Analyst Upgrades and Downgrades

CRL has been the topic of several recent research reports. Bank of America upgraded shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Monday, December 15th. Argus set a $200.00 target price on Charles River Laboratories International in a research report on Monday, November 17th. Morgan Stanley set a $185.00 target price on Charles River Laboratories International in a report on Monday, December 1st. William Blair upgraded Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a research note on Monday, October 6th. Finally, Barclays boosted their price target on Charles River Laboratories International from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.46.

Charles River Laboratories International Stock Performance

CRL opened at $226.75 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.37 and a debt-to-equity ratio of 0.64. Charles River Laboratories International, Inc. has a 12-month low of $91.86 and a 12-month high of $228.88. The business has a 50 day moving average of $194.81 and a 200-day moving average of $175.49. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of -145.35, a PEG ratio of 6.52 and a beta of 1.61.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly 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. Charles River Laboratories International had a positive return on equity of 15.78% and a negative net margin of 2.07%.The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $990.43 million. During the same quarter in the prior year, the business earned $2.59 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

About Charles River Laboratories International

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.