Charles River Laboratories Intl. (CRL) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Charles River Laboratories Intl. (NYSE:CRL) from a hold rating to a sell rating in a research report report published on Friday.

According to Zacks, “Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Their dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. At Charles River, they are passionate about their role in improving the quality of people’s lives. Their mission, their excellent science and strong sense of purpose guide in all that they do, and they approach each day with the knowledge that their work helps to improve the health and well-being of many across the globe. Charles River Laboratories International, Inc. service areas are Basic research, discovery, safety and efficacy, clinical support and manufacturing. “

A number of other brokerages have also issued reports on CRL. Morgan Stanley upped their target price on shares of Charles River Laboratories Intl. from $112.00 to $136.00 and gave the stock an equal weight rating in a research report on Monday, December 3rd. Raymond James increased their price objective on shares of Charles River Laboratories Intl. from $140.00 to $150.00 and gave the company a buy rating in a report on Thursday, November 8th. Robert W. Baird increased their price objective on shares of Charles River Laboratories Intl. from $144.00 to $148.00 and gave the company an outperform rating in a report on Thursday, November 8th. Royal Bank of Canada set a $147.00 price objective on shares of Charles River Laboratories Intl. and gave the company a buy rating in a report on Wednesday, November 7th. Finally, Deutsche Bank assumed coverage on shares of Charles River Laboratories Intl. in a report on Friday, December 14th. They issued a buy rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $133.07.

Shares of CRL stock opened at $126.07 on Friday. Charles River Laboratories Intl. has a 1 year low of $98.72 and a 1 year high of $139.72. The company has a market cap of $6.03 billion, a PE ratio of 23.92, a P/E/G ratio of 1.65 and a beta of 0.99. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 1.32.

In other Charles River Laboratories Intl. news, Director Robert J. Bertolini sold 3,440 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $133.77, for a total value of $460,168.80. Following the completion of the sale, the director now owns 29,876 shares of the company’s stock, valued at $3,996,512.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James C. Foster sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $115.00, for a total transaction of $2,875,000.00. The disclosure for this sale can be found here. Insiders sold 30,417 shares of company stock valued at $3,590,419 in the last ninety days. Insiders own 2.10% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Man Group plc increased its position in shares of Charles River Laboratories Intl. by 23.7% during the third quarter. Man Group plc now owns 88,470 shares of the medical research company’s stock worth $11,903,000 after acquiring an additional 16,952 shares in the last quarter. American International Group Inc. increased its position in shares of Charles River Laboratories Intl. by 1.3% during the third quarter. American International Group Inc. now owns 97,830 shares of the medical research company’s stock worth $13,162,000 after acquiring an additional 1,223 shares in the last quarter. Cadence Capital Management LLC increased its position in shares of Charles River Laboratories Intl. by 7.1% during the third quarter. Cadence Capital Management LLC now owns 13,142 shares of the medical research company’s stock worth $1,768,000 after acquiring an additional 873 shares in the last quarter. Caxton Associates LP bought a new stake in shares of Charles River Laboratories Intl. during the third quarter worth $309,000. Finally, FDx Advisors Inc. increased its position in shares of Charles River Laboratories Intl. by 17.0% during the third quarter. FDx Advisors Inc. now owns 5,197 shares of the medical research company’s stock worth $699,000 after acquiring an additional 756 shares in the last quarter. 99.47% of the stock is owned by institutional investors.

About Charles River Laboratories Intl.

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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