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Charles River Laboratories International, Inc. focuses on research and non-clinical drug development services, with net sales primarily from discovery and safety assessment services (63.4%), research models (19.2%), and drug manufacturing solutions (17.5%). Revenue is largely generated from services (83.3%) compared to products (16.7%), with the majority of sales occurring in the United States (56.8%) and Europe (26%).
Charles River Labs has been downgraded to a neutral rating by UBS. This change reflects a shift in the investment outlook for the company, indicating a more cautious stance from analysts.
Wellington Management Group LLP significantly increased its stake in Charles River Laboratories International, now owning 3,740,768 shares valued at $736.8 million. Other institutional investors, including State Street Corp and Allspring Global Investments, also raised their holdings. Despite these investments, analysts maintain a "Hold" rating on the stock, with a current price target of $185, down from $250. The company reported earnings of $2.59 per share, exceeding expectations, but revenue declined 1.6% year-over-year.
The global Healthcare Contract Research Organization (CRO) market, valued at USD 66.2 billion in 2023, is projected to reach USD 135.7 billion by 2030, growing at a CAGR of 10.8%. Key drivers include increasing outsourcing demand and a focus on personalized medicine, while challenges involve regulatory compliance and operational costs. The report covers market segmentation by product type, application, and region, providing insights into trends, growth drivers, and competitive landscape.
The healthcare analytical testing services market is projected to grow from $5.72 billion in 2023 to $11.29 billion by 2028, driven by rising chronic disease cases and technological advancements. North America led the market in 2023, with significant contributions from telemedicine and innovative drug testing platforms. Key players include Charles River Laboratories and Thermo Fisher Scientific.
Charles River Laboratories International Inc. (CRL) is set to present at the UBS Global Healthcare Conference on November 12, 2024, starting at 1:15 PM ET. Interested parties can access the live webcast at https://ir.criver.com.
Charles River Laboratories will present at the UBS Global Healthcare Conference on November 12 at 10:15 a.m. PT and at the Jefferies London Healthcare Conference on November 20 at 2:00 p.m. GMT. Management will discuss the company's strategic focus and recent developments. Live webcasts of the presentations will be available on the Investor Relations section of the Charles River website, with replays accessible for at least two weeks.
Charles River Laboratories International, Inc.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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