Retirement Systems of Alabama Purchases 126,092 Shares of Charles River Laboratories International, Inc. $CRL

Retirement Systems of Alabama lifted its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 1,246.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 136,211 shares of the medical research company’s stock after acquiring an additional 126,092 shares during the quarter. Retirement Systems of Alabama’s holdings in Charles River Laboratories International were worth $40,184,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CRL. Physician Wealth Advisors Inc. boosted its stake in Charles River Laboratories International by 127.9% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 98 shares of the medical research company’s stock worth $29,000 after purchasing an additional 55 shares during the period. Continuum Advisory LLC purchased a new position in Charles River Laboratories International during the 2nd quarter worth approximately $30,000. IFP Advisors Inc raised its stake in Charles River Laboratories International by 182.8% during the 3rd quarter. IFP Advisors Inc now owns 164 shares of the medical research company’s stock valued at $48,000 after purchasing an additional 106 shares during the period. Compass Wealth Management LLC acquired a new stake in Charles River Laboratories International during the 3rd quarter valued at $69,000. Finally, Activest Wealth Management raised its stake in Charles River Laboratories International by 25.9% during the 3rd quarter. Activest Wealth Management now owns 277 shares of the medical research company’s stock valued at $82,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Trading Down 2.0%

Shares of NYSE CRL opened at $346.29 on Wednesday. The stock has a market cap of $16.59 billion, a price-to-earnings ratio of 380.54, a PEG ratio of 3.19 and a beta of 1.36. The business has a 50 day simple moving average of $308.11 and a 200 day simple moving average of $226.44. Charles River Laboratories International, Inc. has a 52 week low of $146.20 and a 52 week high of $379.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.41.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, November 4th. The medical research company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.12. The firm had revenue of $982.73 million for the quarter, compared to analyst estimates of $960.36 million. Charles River Laboratories International had a net margin of 1.01% and a return on equity of 16.95%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.43 earnings per share. On average, research analysts predict that Charles River Laboratories International, Inc. will post 11.45 earnings per share for the current fiscal year.

Insider Transactions at Charles River Laboratories International

In related news, Director James Foster sold 33,561 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $300.00, for a total value of $10,068,300.00. Following the completion of the sale, the director directly owned 31,596 shares in the company, valued at approximately $9,478,800. This represents a 51.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy C. Andrews sold 573 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $285.24, for a total transaction of $163,442.52. Following the completion of the sale, the director owned 1,438 shares of the company’s stock, valued at $410,175.12. This represents a 28.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 63,352 shares of company stock worth $20,291,281 in the last 90 days. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CRL has been the subject of a number of research analyst reports. Mizuho increased their target price on Charles River Laboratories International from $264.00 to $295.00 and gave the company a “neutral” rating in a report on Friday, September 25th. Argus set a $330.00 price target on Charles River Laboratories International in a report on Thursday, September 17th. Jefferies Financial Group lifted their price target on Charles River Laboratories International from $305.00 to $340.00 and gave the company a “buy” rating in a report on Monday, September 28th. Deutsche Bank Aktiengesellschaft upped their price target on Charles River Laboratories International from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, September 25th. Finally, Piper Sandler set a $300.00 price objective on Charles River Laboratories International in a research note on Monday, August 10th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Charles River Laboratories International presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.17.

About Charles River Laboratories International

Charles River Laboratories International is a contract research organization that supports pharmaceutical and biotechnology companies, as well as academic and government researchers, in developing medicines and advancing scientific research. Its services span the drug development process, from early discovery and preclinical research to manufacturing support. The company’s offerings include research models and related services, drug discovery and safety assessment, and manufacturing solutions. These may include laboratory animal models, laboratory testing, bioanalysis, and support for the production of products used in the development of pharmaceuticals and biologics.