Charles River Stock (NYSE:CRL), Trade Ideas

Charles River

Charles River Laboratories was founded in 1947 and is a leading provider of drug discovery and development services. The company's research model & services segment is the leading provider of animal models for laboratory testing, which breeds and delivers animal research models with specific genetic characteristics for preclinical studies around the world. The discovery & safety assessment segment includes services required to take a drug through the early development process, including discovery services. The manufacturing support segment includes microbial solutions, which provides in vitro (non-animal) testing products, biologics testing services, and avian vaccine services.

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Charles River Laboratories Q4 2023 revenue: $1.01 billion, down 7.9% YoY, beating consensus. Analysts note mixed Q4 performance, keeping Outperform rating.

Charles River Laboratories Stock Surges On Upbeat Annual Outlook, But This Analyst Is Concerned

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This agreement comes ahead of entering into an anticipated master services agreement for the development and manufacture of FibroBiologics&#39; master cell bank, working cell bank, and fibroblast-based spheroids to be utilized in clinical trials.
To help advance FibroBiologics&#39; fibroblast-based therapies into the clinic, Charles River will conduct feasibility studies on FibroBiologics&#39; cell manufacturing processes within its facility. Additionally, contingent upon entering into a master services agreement, Charles River would serve as the contract development and manufacturing organization (CDMO) responsible for producing drug products for certain FibroBiologics&#39; clinical trials.

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FibroBiologics, Charles River Laboratories Sign Letter Of Intent Allowing For Transfer, Testing And Validation Of Technology

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Charles River shares are trading higher in possible sympathy with Danaher, which reported better-than-expected Q1 financial results.

Charles River Laboratories Launches Alternative Methods Advancement Project To Reduce Reliance On Animal Testing

GMP grade plasmid DNA to serve as a direct therapeutic targeting various indications
Charles River Laboratories International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ship-of-theseus.com%2F&amp;esheet=53917419&amp;newsitemid=20240404958978&amp;lan=en-US&amp;anchor=Ship+of+Theseus&amp;index=1&amp;md5=437ec9a9815da92c339177f380347824">Ship of Theseus</a>, a therapeutics company developing degradation-resistant homeobox (HOX) family biologics, today announced a Good Manufacturing Practice- (GMP) plasmid DNA contract development and manufacturing organization (CDMO) agreement. Ship of Theseus will leverage Charles River's premier expertise to manufacture GMP plasmid DNA to serve as the active drug substance for its lead candidate.
Ship of Theseus is developing a proprietary suite of biologics based on the HOX family of transcription factors, which are responsible for driving the differentiation of tissue stem cells towards their respective lineages to repair and maintain the correct function of tissues and organs. Proprietary modifications may enable these regulators to be used as therapeutics.
The collaboration between Charles River and Ship of Theseus will support therapeutic development for a broad variety of target indications such as diabetic and chronic wounds, neutropenia, psoriasis, androgenetic alopecia, women's health and infertility, and epithelial cancers. Charles River's <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.criver.com%2Fproducts-services%2Fcell-and-gene-therapy-cdmo-solutions%2Fcell-and-gene-therapy-cdmo-facilities%2Fkeele-and-alderley-park-uk%3Fregion%3D3601&amp;esheet=53917419&amp;newsitemid=20240404958978&amp;lan=en-US&amp;anchor=GMP+plasmid+DNA+CDMO+center+of+excellence+based+in+Keele%2C+United+Kingdom&amp;index=2&amp;md5=29cccea5fc0bd0e57dcebec27e1855a4">GMP plasmid DNA CDMO center of excellence based in Keele, United Kingdom</a> will lead the collaboration, providing services that include plasmid DNA backbone generation, plasmid synthesis, GMP master cell bank (MCB) generation, pre-production evaluation, and GMP plasmid DNA manufacture including in-house release testing.

Charles River To Perform Plasmid Production For Ship Of Theseus

Charles River Announces Extension Of Gene Therapy Manufacturing Alliance With NUS Yong Loo Lin School Of Medicine

Across the recent three months, 7 analysts have shared their insights on Charles River (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $273.29, a high estimate of $290.00, and a low estimate of $250.00. This upward trend is apparent, with the current average reflecting a 11.42% increase from the previous average price target of $245.29.
<img src="https://www.benzinga.com/files/images/story/2024/1710784859_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The standing of Charles River among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Toung</td>
<td>Argus Research</td>
<td>Raises</td>
<td>Buy</td>
<td>$290.00</td>
<td>$240.00</td>
</tr>
<tr>
<td>Ross Muken</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$265.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Dan Brennan</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$290.00</td>
<td>$270.00</td>
</tr>
<tr>
<td>Patrick Donnelly</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$250.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Eric Coldwell</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$268.00</td>
<td>$252.00</td>
</tr>
<tr>
<td>Tycho Peterson</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$280.00</td>
<td>$270.00</td>
</tr>
<tr>
<td>Tycho Peterson</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$270.00</td>
<td>$210.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Charles River. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Charles River compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Charles River's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Charles River's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/CRL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Charles River analyst ratings.</a>
<h2>All You Need to Know About Charles River</h2>
Charles River Laboratories was founded in 1947 and is a leading provider of drug discovery and development services. The company's research model &amp; services segment is the leading provider of animal models for laboratory testing, which breeds and delivers animal research models with specific genetic characteristics for preclinical studies around the world. The discovery &amp; safety assessment segment includes services required to take a drug through the early development process, including discovery services. The manufacturing support segment includes microbial solutions, which provides in vitro (non-animal) testing products, biologics testing services, and avian vaccine services.
<h3>Charles River: Delving into Financials</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Decline in Revenue: Over the 3 months period, Charles River faced challenges, resulting in a decline of approximately -7.85% in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Health Care sector.
Net Margin: Charles River's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 18.46% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 5.42%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Charles River's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.37% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Charles River's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.85.
<h2>Analyst Ratings: What Are They?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Evaluating Charles River: Insights From 7 Financial Analysts

Argus Research analyst David Toung maintains Charles River (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) with a Buy and raises the price target from $200 to $290.

Price Target

Argus Research Maintains Buy on Charles River, Raises Price Target to $290

Next-generation AAV gene therapy to target debilitating pain disorders
Charles River Laboratories International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) and&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fnavegatx.com%2Fen&amp;esheet=53909155&amp;newsitemid=20240314552741&amp;lan=en-US&amp;anchor=Navega+Therapeutics&amp;index=1&amp;md5=100cfd31af398f3ff7f03ef261f7d407">Navega Therapeutics</a>, Inc., a biotechnology company developing epigenetic gene therapies, today announced an AAV9 production program agreement. As part of Charles River&#39;s Cell and Gene Therapy (CGT) Accelerator Program (CAP), Navega will have access to established contract development and manufacturing (CDMO) capabilities and advisory services to produce an adeno-associated virus (AAV)-based gene therapy, NT-Z001, for Phase I clinical trials.
Developing a Non-Opioid Treatment for Chronic Pain
Navega is pursuing an approach for treatment of chronic pain associated with rare diseases such as small fiber neuropathy and primary erythromelalgia by harnessing the precision of its AI-enabled zinc-finger epigenome regulation platform. Navega&#39;s epigenetic therapy addresses a gain-of-function mutation in the Nav 1.7 gene, linked to inherited erythromelalgia, small fiber neuropathy and other chronic, debilitating pain disorders. With over 17 million Americans living with high-impact chronic pain, Navega&#39;s non-opioid gene therapy for chronic pain may also be used in other intractable pain indications, including neuropathic and inflammatory pain.
Plasmid and Viral Vector CDMO Solutions
To bring NT-Z001 to clinic, Navega will leverage Charles River&#39;s off-the-shelf plasmid products, custom plasmid capabilities, and Good Manufacturing Practice (GMP)-grade AAV production.
Simplifying complex supply chains, without compromising on quality, Charles River provides phase-appropriate solutions to meet the growing global demand for plasmid DNA, viral vector, and cell therapy services. Through several acquisitions, capacity expansions, and the establishment of manufacturing platforms including&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.criver.com%2Finsights%2Fexpedite-your-program-expdnatm-plasmid-platform&amp;esheet=53909155&amp;newsitemid=20240314552741&amp;lan=en-US&amp;anchor=eXpDNA%26%238482%3B&amp;index=2&amp;md5=48b8d4960cd4b26a37e66360a839a58f">eXpDNA&trade;</a>&nbsp;(plasmid),&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.criver.com%2Finsights%2Fnaavigationtm-vector-platform-accelerates-gene-therapy-programs&amp;esheet=53909155&amp;newsitemid=20240314552741&amp;lan=en-US&amp;anchor=nAAVigation%26%238482%3B&amp;index=3&amp;md5=2d3f2731012b091af94f536e235e9fa5">nAAVigation&trade;</a>&nbsp;(AAV), and&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.criver.com%2Finsights%2Flentivation-sets-course-rapid-gene-therapy-manufacturing&amp;esheet=53909155&amp;newsitemid=20240314552741&amp;lan=en-US&amp;anchor=Lentivation%26%238482%3B&amp;index=4&amp;md5=e3d5dd7fcd8c2f1aed78ad538bdc0cfc">Lentivation&trade;</a>&nbsp;(lentiviral vector) to expedite and standardize supply, Charles River&#39;s CGT portfolio has been significantly enhanced. Combined with the company&#39;s legacy testing services, Charles River offers an industry-leading &quot;concept to cure&quot; solution for advanced therapies, helping developers to navigate the path to clinic and beyond.
New for the 2024 Charles River Cell &amp; Gene Therapy Summit, the Company Pitches session showcases the &quot;who, what, why, and how,&quot; highlighting technologies, milestones, path to clinic, and patient outcomes. Join Ana Moreno, CEO, Navega Therapeutics on March 19 in San Francisco &ndash; see the full agenda and save your seat:&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fbit.ly%2F3SW3VOV&amp;esheet=53909155&amp;newsitemid=20240314552741&amp;lan=en-US&amp;anchor=https%3A%2F%2Fbit.ly%2F3SW3VOV&amp;index=5&amp;md5=4977b18e2957a385d9fc8ad70c727236">https://bit.ly/3SW3VOV</a>

Biotech

Charles River And Navega Therapeutics Announce Comprehensive Gene Therapy Manufacturing Collaboration

DRRX

Durect Corporation Has Entered Into A Co-marketing And Collaboration Agreement With Charles River Laboratories For The Alzet Osmotic Pumps Portfolio And Associated Product Line In The US And Canada

Wheeler Bio, Inc., an agile contract development and manufacturing organization (CDMO), announced today a new strategic agreement with Charles River Laboratories International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>), a global leader in pharma services, to offer Wheeler Bio&#39;s Portable CMC&reg; (Chemistry, Manufacturing and Controls) platform to Charles River Laboratory clients. The collaboration is designed to enable a swift transition from pre-clinical stages directly to human clinical trials.

Wheeler Bio Taps Charles River to Offer Portable CMC to Discovery Clients to Accelerate Their Journey to First-in-Human Use

&nbsp;Charles River Laboratories International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) today announced a strategic agreement with Wheeler Bio, Inc., an antibody contract development and manufacturing organization (CDMO) focused on preclinical and early clinical supply of recombinant proteins, providing clients access to Wheeler's Portable CMC&#xAE; (Chemistry, Manufacturing and Controls) platform. This new alliance provides early-stage biotechnology companies a unique solution to rapidly transition from pre-clinical activities to first-in-human clinical trials.
Combining Charles River's industry-leading experience in antibody discovery services, safety, and analytics with Wheeler's Portable CMC&#xAE; platform will accelerate therapeutic discovery to IND submission timelines. This umbrella offering efficiently connects the preclinical, clinical manufacturing, and release testing journeys, significantly reducing the complexity of managing multiple vendor relationships. Integrating CMC development early in discovery enables therapeutic developers to collaborate with experts across the organizations to utilize phase-appropriate manufacturing and analytics. The services and expertise come together to provide a single concept-to-commercial offering.
Wheeler's mission is to solve translational challenges inherent in advancing from discovery to CMC development and early-clinical trial material supply. Wheeler's Portable CMC&#xAE; is a validation-ready production process which reduces technical and regulatory risk. The organization operates the Portable CMC&#xAE; platform in Wheeler's state-of-the-art process development labs in Oklahoma City, OK, which also houses a CGMP facility-of-the-future with on-site Charles River RightSource&#x2122; quality control testing labs. There is an additional satellite lab in Waltham, MA featuring protein sciences and bench scale process capabilities. Wheeler provides startup biotechs with access to a high quality, agile, affordable path to clinical supply with thoughtfully designed, modular work packages featuring Leap-in Transposase&#xAE; for pools-based workflow parallelization, standard analytics, and discrete CMC milestones that align with innovators' fundraising milestones.
Approved Quotes
<ul>
<li>"We are thrilled to provide Charles River clients with access to Wheeler's innovative Portable CMC&#xAE; platform, which will optimize their workflows and ultimately bring new treatments to patients faster." –Julie Frearson, Corporate Senior Vice President, Chief Scientific Officer, Charles River
<ul>
<li>"Wheeler is excited to expand our relationship with Charles River and to link with their discovery organization. By integrating discovery CRO and CDMO workflows, we can speed our clients' path to first-in-human trials, thereby achieving clinical decisions faster. Our combined sales teams look forward to co-promoting these services for the benefit of our biotech partners and their pipelines towards clinical impact." —Jesse McCool, CEO and Co-Founder, Wheeler Bio</li>
</ul>
</li>
</ul>

Charles River And Wheeler Bio Complete Agreement To Accelerate The Journey From Discovery And CMC Development To Manufacturing

The addition of ES cells and iPSCs will enhance Charles River's portfolio of powerful research tools supporting acceleration of therapeutic development.
Charles River Laboratories International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) today announced that it has entered into an agreement with <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fpluristyx.com%2F&amp;esheet=53897544&amp;newsitemid=20240220481133&amp;lan=en-US&amp;anchor=Pluristyx+Inc.&amp;index=1&amp;md5=6c7d5727cddf9c9a4f83f018bf6e8da9">Pluristyx Inc.</a>, a leading provider of tools, technologies, and services for the development of cell therapies. The collaboration provides Charles River with broad access to highly characterized and unique stem cell lines, including high-quality embryonic stem (ES) cells and induced pluripotent stem cells (iPSCs) as research tools to support development of new therapeutics.
Pluristyx offers a unique product and technology platform in the stem cell biology field for development of new therapies while reducing timelines and downstream costs. Through the agreement, Charles River will distribute Pluristyx's wild-type and genetically engineered iPSCs as well as their comprehensive portfolio of normal and disease state ES cell lines. All of Pluristyx's pluripotent cell lines are produced under full donor consent and the ES cell lines are registered and approved by the U.S. National Institutes of Health (NIH) making them eligible for use in NIH-funded research. Pluristyx's iPSC panCELLa&#x2122; platform includes the proprietary FailSafe&#xAE; safety-switch technology enabling the development of safer, next-generation cell therapies.
Under the terms of the agreement, Charles River will distribute a broad catalog of Pluristyx's ES and iPS cell lines for research use and will exclusively offer specific pluripotent stem cell lines derived under Good Tissue Practice to support a path to the clinic. The addition of Pluristyx's offerings complements Charles River's expansive portfolio of high-quality human cellular materials.
Shaping the Future of Drug and Therapeutic Development
ES and iPS cells provide a valuable tool for researchers to gain access to various types of specialized and differentiated cells that are otherwise inaccessible to study disease onset and progression and to develop a multitude of effective therapies. With its expanded portfolio of <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.criver.com%2Fproducts-services%2Fcell-sourcing%2Fhuman-stem-cells%2Fhuman-embryonic-stem-cells-es-cells&amp;esheet=53897544&amp;newsitemid=20240220481133&amp;lan=en-US&amp;anchor=ES&amp;index=2&amp;md5=2161a86d72da54d3292800971f583ba1">ES </a>and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.criver.com%2Fproducts-services%2Fcell-sourcing%2Fhuman-stem-cells%2Fhuman-induced-pluripotent-stem-cells-ipscs&amp;esheet=53897544&amp;newsitemid=20240220481133&amp;lan=en-US&amp;anchor=iPS+cell+lines&amp;index=3&amp;md5=f7f3c1ea83d70d13777b1cfe56062007">iPS cell lines</a>, Charles River enhances its position as a global leader in supplying critical human-derived biomaterials, including a wide range of immune cells and hematopoietic stem cells from both healthy donors and patients to drive advancements in stem cell biology, disease remodeling, toxicity studies, developmental biology, regenerative medicine, drug discovery, and cell therapy development.
Charles River is committed to leading the industry in identifying technologies and supporting efforts by global regulatory bodies to advance solutions that reduce the impact on in vivo research models through its <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.criver.com%2Fabout-us%2Fabout-us-overview%2Fanimals-research%2Four-4rs-mission&amp;esheet=53897544&amp;newsitemid=20240220481133&amp;lan=en-US&amp;anchor=4Rs+mission&amp;index=4&amp;md5=fbc255492da0467ff95931ea5627a01b">4Rs mission</a>. The development of complex in vitro models using human-derived cells is one of many critical steps in revolutionizing therapeutic research and development. The alliance with Pluristyx provides Charles River clients access to research tools for advancing in vitro translational cell-based assays for drug discovery.

Charles River Collaborates With Pluristyx, Expanding Its Portfolio Of Human Pluripotent Stem Cells

During the last three months, 4 analysts shared their evaluations of Charles River (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>), revealing diverse outlooks from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $258.25, along with a high estimate of $280.00 and a low estimate of $215.00. This upward trend is apparent, with the current average reflecting a 12.04% increase from the previous average price target of $230.50.
<img src="https://www.benzinga.com/files/images/story/2024/1708012869_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Charles River among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Eric Coldwell</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$268.00</td>
<td>$252.00</td>
</tr>
<tr>
<td>Tycho Peterson</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$280.00</td>
<td>$270.00</td>
</tr>
<tr>
<td>Tycho Peterson</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$270.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Patrick Donnelly</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$215.00</td>
<td>$190.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Charles River. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Charles River compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Charles River's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Charles River's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CRL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Charles River analyst ratings.</a>
<h2>About Charles River</h2>
Charles River Laboratories was founded in 1947 and is a leading provider of drug discovery and development services. The company's research model &amp; services segment is the leading provider of animal models for laboratory testing, which breeds and delivers animal research models with specific genetic characteristics for preclinical studies around the world. The discovery &amp; safety assessment segment includes services required to take a drug through the early development process, including discovery services. The manufacturing support segment includes microbial solutions, which provides in vitro (non-animal) testing products, biologics testing services, and avian vaccine services.
<h3>Financial Insights: Charles River</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Charles River's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2023, the company achieved a revenue growth rate of approximately 3.79%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Health Care sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 8.51%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Charles River's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.67% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Charles River's ROA stands out, surpassing industry averages. With an impressive ROA of 1.14%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Charles River's debt-to-equity ratio stands notably higher than the industry average, reaching 0.88. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>What Are Analyst Ratings?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 4 Analyst Projections For Charles River

Guggenheim analyst Sandy Draper downgrades Charles River (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) from Buy to Neutral.

Downgrades

Guggenheim Downgrades Charles River to Neutral

The U.S. stock market attempted a rebound following Tuesday&#8217;s declines, which were sparked by a higher-than-expected inflation report in January, as investors <a href="https://www.benzinga.com/calendars/earnings">refocused on corporate earnings.</a>
More than two-thirds of S&amp;P 500 companies reported thus far, with 75% of them exceeding earnings-per-share expectations and 65% reporting positive revenue, according to Factset data.
Wednesday&#8217;s recovery impacted nine out of eleven S&amp;P 500 sectors, with energy and consumer staples lagging behind. 
The S&amp;P 500 was up 0.4% as of noon trading in New York, while the tech-heavy Nasdaq 100 surged by 0.5%.
Small-cap stocks, represented by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), rallied by 1.7% after experiencing a 4% drop on Tuesday.
Treasury yields were lower across all maturities amid dovish Fed remarks. The 10-year yield dropped 7 basis points to 4.25% after Chicago Fed President Austan Goolsbee stated that even if inflation comes in a bit higher over next few months, it would still be consistent with the path back to the 2% target. 
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued to dominate headlines, as the largest cryptocurrency surpassed a $1 trillion market value, with its price climbing above $51,000.
In the commodities market, U.S. natural gas prices declined for the eighth consecutive day amid milder weather forecasts and elevated stocks, reaching lows last observed in July 2020.
<h2 class="wp-block-heading">Wednesday's Performance In Major Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices &amp; ETFs</td>
<td>Price</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,995.83</td>
<td>1.7%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,681.96</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>4,971.29</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,273.13</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.4% higher to $495.55, the SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) held steady at $382.73 and the tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.5% to $430.34, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. 
The Industrials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>), outperformed, up 1.1%, while the Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) was the laggard, down 0.6%. 
Industry-wise, solar stocks, as tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), rallied by 3.5%, after dropping nearly 6% on Tuesday. 
<h2 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h2>
<ul>
<li>Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) surged 11% on stronger-than-expected results last quarter, claiming the top performance for the day among S&amp;P 500 stocks. </li>
<li>Akamai Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) fell 9% as revenue missed the Street&#8217;s forecasts. The company was Wednesday&#8217;s worst performer within the S&amp;P 500. </li>
<li>Other companies reacting to earnings were MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), down 8%, IQVIA Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IQV#NYSE">IQV</a>), up 10.5%, Charler River Laboratories International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>), up 9.2%, The Kraft Heinz Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NYSE">KHC</a>), down 5.9%, Welltower Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>), up 7%, Airbnb Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NYSE">ABNB</a>), down 2.7%, Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>), up 33%, QuidelOrtho Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QDEL#NASDAQ">QDEL</a>), down 30%. </li>
<li>Crypto-related stocks such as Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) and Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) rallied, 13%, 10% and 9% respectively. </li>
</ul>
Read now: &#8216;<a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37128741/its-not-that-decentralized-sec-chair-gary-gensler-hesitant-on-bitcoin-calls-it-just-an-acc">It&#8217;s Not That Decentralized&#8217;: SEC Chair Gary Gensler Hesitant On Bitcoin, Calls It &#8216;Just An Accounting Ledger&#8217;</a>
Photo: Shutterstock

Stocks Rebound As Investor Focus Shifts To Earnings, Bitcoin Tops $1 Trillion Value: What's Driving Markets Wednesday?

Charles River Laboratories International Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) reported fourth-quarter 2023 revenue of $1.01 billion, a decrease of 7.9% Y/Y, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $991.25 million</a>.
The impact of foreign currency translation benefited reported revenue by 1.2%, and acquisitions contributed 0.7% to consolidated fourth-quarter revenue. Organic&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37120842/charles-river-laboratories-announces-fourth-quarter-and-full-year-2023-results-and-provides-2024-g" rel="noreferrer noopener">revenue decreased 3.5%</a>.&nbsp;
Adjusted operating margin decreased to 19.1% from 20.4%.
Adjusted net income was $127.2 million for the fourth quarter of 2023, a decrease of 16.8% from a year ago. Adjusted EPS of $2.46 surpassed the consensus estimate of $2.40.
&#8220;Despite moderating demand trends in the broader life sciences sector, we were able to deliver solid revenue growth and non-GAAP earning per share that were in the upper half of our original guidance ranges,&#8221; said James Foster, Chairman, President and CEO.
&#8220;We believe the current market environment is transitory. We are anticipating that some level of constrained client spending will persist in 2024, but that demand will stabilize over the course of the year,&#8221; Foster added.
Guidance:&nbsp;Charles River forecasts a fiscal year 2024 adjusted EPS of $10.90 to $11.40, versus consensus of $10.87.
The company expects 2024 revenue growth of 1.0%–4.0% on a reported basis, with an organic growth of 0.0%–3.0%.
William Blair&nbsp;writes that the fourth quarter performance is perceived as a mixed outcome. The analyst keeps the Outperform rating on Charles River Laboratories.
Although there is positive news with a top-line beat, attention is expected to shift during the upcoming call to factors contributing to a somewhat disappointing revenue outlook for the year, which falls below the targeted 4% growth.&nbsp;
Concerns are also raised about increased DSA cancellations observed in the fourth quarter.&nbsp;
While the adjusted EPS guidance for 2024 appears favorable initially, it is noted that a significant portion of the expected increase comes from Charles River&#8217;s enhanced ownership stake in Noveprim.&nbsp;
Price Action: CRL shares are up 9.01% at $240.09 on the last check Wednesday.
Photo via Wikimedia Commons

Shares of Sony Group Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sony#NYSE">SONY</a>) fell during Wednesday&rsquo;s session after the company reported third-quarter financial results and revised guidance above estimates and shared plans to list its financial arm in October 2025.
Sony Group reported third-quarter FY23 sales growth of 22% year-on-year to $25.34 billion (&yen;3.75 trillion), beating the consensus of $24.62 billion. Adjusted EPS of $1.99 beat the consensus of $1.65.
Sony revised its FY23 sales outlook to $86.62 billion (&yen;12.4 trillion), down from a prior forecast of &yen;12.3 trillion versus the consensus of $87.32 billion.
Sony Group shares fell 6.3% to $89.86 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Datasea Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dtss#NASDAQ">DTSS</a>) shares jumped 1,173% to $18.59. On Tuesday, Datasea posted a narrower second-quarter loss.</li>
<li>Earlyworks Co., Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/elws#NASDAQ">ELWS</a>) surged 416% to $2.35 on two passive stakes.</li>
<li>enGene Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/engn#NASDAQ">ENGN</a>) jumped 95.5% to $14.90. The company&rsquo;s CEO Jason Hanson is resigning due to personal family and health reasons, though he will continue to support the company as a strategic advisor after a successor is appointed. Concurrently, enGene announced a private placement of 20 million common shares at $10.00 per share, representing a 31% premium over the previous day&rsquo;s closing price.</li>
<li>Cineverse Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cnvs#NASDAQ">CNVS</a>) surged 92.9% to $2.9899. Cineverse announced forthcoming launch of AI-powered movie search platform cineSearch.</li>
<li>Cheche Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ccg#NASDAQ">CCG</a>) gained 74.3% to $5.49.</li>
<li>MGO Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgol#NASDAQ">MGOL</a>) rose 66% to $0.6647.</li>
<li>Cogent Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cogt#NASDAQ">COGT</a>) surged 62.7% to $8.89.</li>
<li>Inspira Technologies Oxy B.H.N. Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iinn#NASDAQ">IINN</a>) gained 35% to $1.29 after the company announced it received the first ever U.S. Patent approval for an orbiting blood oxygenation delivery system, a core technology of the INSPIRA ART500 device.</li>
<li>Lyft, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyft#NASDAQ">LYFT</a>) shares gained 34.3% to $16.29 after the company reported fourth-quarter sales of $1.22 billion and gross bookings of $3.7 billion, up 17% year-over-year. The company&rsquo;s CFO, Erin Brewer, said the adjusted EBITDA margin is projected to expand 50 basis points in 2024.</li>
<li>Healthcare Services Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hcsg#NASDAQ">HCSG</a>) gained 25.7% to $11.90 following upbeat earnings.</li>
<li>Blink Charging Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blnk#NASDAQ">BLNK</a>) gained 24.2% to $3.3288. Blink Charging announced preliminary fourth-quarter revenue excess of $42 million.</li>
<li>Larimar Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lrmr#NASDAQ">LRMR</a>) rose 23.9% to $10.83. Larimar Therapeutics has priced the public offering of 17.16 million shares at $8.74 per share for gross proceeds of approximately $150 million.</li>
<li>Clene Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clnn#NASDAQ">CLNN</a>) gained 22.9% to $0.52.</li>
<li>Angi Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/angi#NASDAQ">ANGI</a>) gained 22.2% to $2.97 following upbeat earnings.</li>
<li>Iris Energy Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iren#NASDAQ">IREN</a>) shares rose 20.5% to $8.35.</li>
<li>CEVA, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceva#NASDAQ">CEVA</a>) gained 18.5% to $23.92 following upbeat earnings.</li>
<li>Great Lakes Dredge &amp; Dock Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gldd#NASDAQ">GLDD</a>) gained 17.1% to $9.47 following quarterly results.</li>
<li>Resideo Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rezi#NYSE">REZI</a>) rose 16.7% to $19.94 after the company reported better-than-expected quarterly financial results.</li>
<li>Kratos Defense &amp; Security Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktos#NASDAQ">KTOS</a>) jumped 15.7% to $20.59 following better-than-expected quarterly results.</li>
<li>Robinhood Markets, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>) shares gained 14.7% to $13.58 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>United Fire Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ufcs#NASDAQ">UFCS</a>) rose 13.5% to $24.32 following upbeat results.</li>
<li>Allison Transmission Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alsn#NASDAQ">ALSN</a>) gained 13% to $69.53 after the company reported better-than-expected quarterly financial results.</li>
<li>MRC Global Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrc#NYSE">MRC</a>) rose 12.1% to $11.64 following upbeat earnings.</li>
<li>Coinbase Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) gained 11.5% to $156.50 amid strength in Bitcoin.</li>
<li>CCSC Technology International Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cctg#NASDAQ">CCTG</a>) shares rose 10.2% to $3.56 after dipping around 10% on Tuesday.</li>
<li>Tower Semiconductor Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsem#NASDAQ">TSEM</a>) gained 8.5% to $31.07 following strong results.</li>
<li>Sentage Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sntg#NASDAQ">SNTG</a>) shares jumped 8.4% to $2.46.</li>
<li>Charles River Laboratories International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crl#NYSE">CRL</a>) gained 7.2% to $236.00 after the company reported better-than-expected fourth-quarter results and issued guidance above estimates.</li>
<li>VBI Vaccines Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vbiv#NASDAQ">VBIV</a>) shares surged 5.2% to $0.6941. Brii Biosciences agreed to acquire VBI&#39;s IP rights in BRII-179 (VBI-2601) and plans to initiate technology transfer to expand clinical and commercial supplies.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Azitra, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aztr#NYSE">AZTR</a>) shares fell 69.5% to $0.2653. Azitra priced its $5 million public offering of 16.667 million common shares at $0.30 per share.</li>
<li>Ohmyhome Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/omh#NASDAQ">OMH</a>) fell 40.7% to $1.3397 after the company priced its upsized $4.8 million public offering of 3,555,555 ordinary shares at $1.35 per share.</li>
<li>QuidelOrtho Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qdel#NASDAQ">QDEL</a>) fell 34.9% to $43.49 after the company reported worse-than-expected fourth-quarter financial results and issued FY24 adjusted EPS below estimates.</li>
<li>BioNexus Gene Lab Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bglc#NASDAQ">BGLC</a>) shares fell 34.4% to $1.03 after jumping 282% on Tuesday.</li>
<li>Sunworks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sunw#NASDAQ">SUNW</a>) fell 34.3% to $0.0662.</li>
<li>Enviva Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eva#NYSE">EVA</a>) fell 33.2% to $0.2977. Enviva is preparing to file for bankruptcy within days, the Wall Street Journal reported.</li>
<li>EpicQuest Education Group International Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eeiq#NASDAQ">EEIQ</a>) fell 27.5% to $1.16.</li>
<li>Nukkleus Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nukk#NASDAQ">NUKK</a>) shares declined 21.6% to $1.5338 after surging over 55% on Tuesday. Goldman Sachs reported a 7.2% passive stake in Nukkleus as of Dec. 29, 2023.</li>
<li>Upstart Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/upst#NASDAQ">UPST</a>) fell 20.5% to $26.19 after the company issued first-quarter revenue guidance below estimates.</li>
<li>Esports Entertainment Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gmbl#NASDAQ">GMBL</a>) shares fell 20% to $1.48. Esports Entertainment Group announced voluntary delisting from the Nasdaq and transfer to the OTCQB Venture Market.</li>
<li>Qurate Retail, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qrteb#NASDAQ">QRTEB</a>) declined 18.4% to $4.69.</li>
<li>CAE Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cae#NYSE">CAE</a>) fell 12.2% to $18.36 after the company reported worse-than-expected quarterly financial results.</li>
<li>The Chemours Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cc#NYSE">CC</a>) dipped 10.5% to $27.29.</li>
<li>Vroom, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrm#NASDAQ">VRM</a>) fell 10.5% to $13.71.</li>
<li>Maplebear Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cart#NASDAQ">CART</a>) fell 7.8% to $25.67 following quarterly results.</li>
<li>MGM Resorts International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mgm#NYSE">MGM</a>) shares declined 7.4% to $42.29 after the company reported fourth-quarter financial results.</li>
<li>Akamai Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/akam#NASDAQ">AKAM</a>) fell 7.3% to $115.89 after the company reported mixed quarterly financial results.</li>
<li>The Kraft Heinz Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>) declined 5.5% to $34.13 after the company reported mixed quarterly financial results.</li>
<li>Airbnb, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abnb#NASDAQ">ABNB</a>) shares declined 5% to $143.25 after the company reported fourth-quarter financial results.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37126344/bitcoin-surpasses-51-000-stacks-emerges-as-top-gainer"> Bitcoin Surpasses $51,000; Stacks Emerges As Top Gainer</a>

Why Sony Shares Are Trading Lower By Around 6%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

U.S. stocks were higher, with the Dow Jones index gaining more than 100 points on Wednesday.
Shares of Charles River Laboratories International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crl#NYSE">CRL</a>) rose sharply during Wednesday&rsquo;s session after the company reported better-than-expected fourth-quarter results and issued <a href="https://www.benzinga.com/quote/CRL/earnings">guidance above estimates</a>.
Charles River posted adjusted earnings of $2.46 per share, beating market estimates of $2.40 per share. The company&rsquo;s quarterly sales came in at $1.01 billion versus expectations of $991.25 million.
Charles River Laboratories International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crl#NYSE">CRL</a>) rose 7.2% to $236.00 on Wednesday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Lyft, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyft#NASDAQ">LYFT</a>) shares rose 34.3% to $16.29 after the company reported fourth-quarter sales of $1.22 billion and gross bookings of $3.7 billion, up 17% year-over-year. The company&rsquo;s CFO, Erin Brewer, said the adjusted EBITDA margin is projected to expand 50 basis points in 2024.</li>
<li>Healthcare Services Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hcsg#NASDAQ">HCSG</a>) rose 25.7% to $11.90 following upbeat earnings.</li>
<li>Larimar Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lrmr#NASDAQ">LRMR</a>) surged 23.9% to $10.83. Larimar Therapeutics has priced the public offering of 17.16 million shares at $8.74 per share for gross proceeds of approximately $150 million.</li>
<li>Angi Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/angi#NASDAQ">ANGI</a>) climbed 22.2% to $2.97 following upbeat earnings.</li>
<li>CEVA, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceva#NASDAQ">CEVA</a>) climbed 18.5% to $23.92 following upbeat earnings.</li>
<li>Great Lakes Dredge &amp; Dock Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gldd#NASDAQ">GLDD</a>) rose 17.1% to $9.47 following quarterly results.</li>
<li>Resideo Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rezi#NYSE">REZI</a>) jumped 16.7% to $19.94 after the company reported better-than-expected quarterly financial results.</li>
<li>Kratos Defense &amp; Security Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktos#NASDAQ">KTOS</a>) rose 15.7% to $20.59 following better-than-expected quarterly results.</li>
<li>Robinhood Markets, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>) shares climbed 14.7% to $13.58 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>CleanSpark, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clsk#NASDAQ">CLSK</a>) rose 13.8% to $18.08 amid strength in Bitcoin.</li>
<li>United Fire Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ufcs#NASDAQ">UFCS</a>) gained 13.5% to $24.32 following upbeat results.</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) jumped 13.3% to $29.13 amid strength in Bitcoin.</li>
<li>Allison Transmission Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alsn#NASDAQ">ALSN</a>) climbed 13% to $69.53 after the company reported better-than-expected quarterly financial results.</li>
<li>MRC Global Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrc#NYSE">MRC</a>) gained 12.1% to $11.64 following upbeat earnings.</li>
<li>Coinbase Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) rose 11.5% to $156.50 amid strength in Bitcoin.</li>
<li>Super Micro Computer, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smci#NASDAQ">SMCI</a>) gained 11.4% to $881.36.</li>
<li>Uber Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uber#NYSE">UBER</a>) gained 11.2% to $76.72 after the company announced an inaugural $7 billion share repurchase authorization.</li>
<li>Riot Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/riot#NASDAQ">RIOT</a>) rose 10% to $16.98 amid strength in Bitcoin.</li>
<li>IQVIA Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iqv#NYSE">IQV</a>) gained 9.7% to $236.20 following upbeat results.</li>
<li>Zillow Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/z#NASDAQ">Z</a>) gained 9.6% to $59.06 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>WESCO International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wcc#NYSE">WCC</a>) gained 9.6% to $145.32.</li>
<li>Tower Semiconductor Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsem#NASDAQ">TSEM</a>) climbed 8.5% to $31.07 following strong results.</li>
<li>Mercury General Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mcy#NYSE">MCY</a>) gained 6.6% to $43.02 following strong results.</li>
<li>DaVita Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dva#NYSE">DVA</a>) gained 6.4% to $120.91 following upbeat results.</li>
<li>IAC Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iac#NASDAQ">IAC</a>) rose 4.9% to $53.70 following upbeat earnings.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37126344/bitcoin-surpasses-51-000-stacks-emerges-as-top-gainer"> Bitcoin Surpasses $51,000; Stacks Emerges As Top Gainer</a>

CLSK

SMCI

Charles River Laboratories International Posts Upbeat Results, Joins Robinhood, Zillow, Tower Semiconductor And Other Big Stocks Moving Higher On Wednesday

Charles River Laboratories shares are trading higher after the company reported better-than-expected Q4 results and issued guidance above estimates.

Charles River Forecasts 2024 Adjusted EPS Of $10.90–$11.40 Versus Consensus Of $10.87

Charles River Labs stock hits 52-week high

Stocks with the most insider buying and selling

DURECT and Charles River enter agreement for alzet in U.S., Canada

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc:usd/">BTC-USD</a>) hit a record high of $69,202, topping its previous high of $68,999.99 in November 2021. That&rsquo;s good news for Coinbase Global (NASDAQ:<a href="https://investorplace.com/stock-quotes/coin-stock-quote/">COIN</a>) and COIN stock.&nbsp;



After all, Bitcoin accounted for <a href="https://s27.q4cdn.com/397450999/files/doc_financials/2023/q4/Shareholder-Letter-Q4-2023.pdf">34%</a> of its 2023 trading volume and 35% of its transaction revenue.&nbsp;




&ldquo;We generate a large portion of our total revenue from transaction fees on our platform in connection with the purchase, sale, and trading of crypto assets by our customers. Transaction revenue is based on transaction fees that are either a flat fee or a percentage of the value of each transaction,&rdquo; states pg. 22 of its <a href="https://s27.q4cdn.com/397450999/files/doc_financials/2023/q4/Coinbase-Q4-23-10K.pdf">2023 10-K</a>.&nbsp;




In 2023, Coinbase&rsquo;s transaction revenue was $1.52 billion, accounting for 48.9% of its total revenue. So, Bitcoin accounted for $532 million of the company&rsquo;s transaction revenue, down from $1.71 billion in 2021. As Bitcoin goes, so goes Coinbase.&nbsp;



The company&rsquo;s 2023 shareholder letter boasted that the company earned $964 million in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), up from -$371 million in 2022.&nbsp;



While that&rsquo;s all very nice, many other U.S. companies earned this much in the past year, many of them involved in industries not nearly as speculative or volatile.&nbsp;



Is COIN stock the best bet With $1 Billion EBITDA? Maybe. Maybe not. Let&rsquo;s have a look.&nbsp;&nbsp;



<h2>15 Possible Stocks to Choose From</h2>



Using S&amp;P Global Market Intelligence&rsquo;s screening tool, I&rsquo;ve compiled a list of 15 companies in the S&amp;P Composite 1500 that had between $900 million and $1 billion in EBITDA in the latest 12 months.&nbsp;



To make the cut for further consideration, these companies should have an EBITDA margin at or near Coinbase, which is 30.8% based on $964 million and $3.1 billion in revenue.



Of the 18, only one has a higher EBITDA margin at 45.7%, with four others in the 20s, including one at 27.7%, within 310 basis points of Coinbase.&nbsp;



CompanyRevenueEBITDA MarginLamar Advertising (NASDAQ:<a href="https://investorplace.com/stock-quotes/lamr-stock-quote/">LAMR</a>)$2.11B45.7%Idex Corp. (NYSE:<a href="https://investorplace.com/stock-quotes/iex-stock-quote/">IEX</a>)$3.27B27.7%Charles River Laboratories&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/crl-stock-quote/">CRL</a>)$4.13B23.5%Deckers Outdoor (NYSE:<a href="https://investorplace.com/stock-quotes/deck-stock-quote/">DECK</a>)$4.12B22.9%Coherent Corp. (NYSE:<a href="https://investorplace.com/stock-quotes/cohr-stock-quote/">COHR</a>)$4.63B21.4%One of my favorite stocks is Deckers Outdoor, the makers of Ugg boots and Hoka running shoes. It continues to grow like weeds. Its net sales in Q3 2024 were 16% higher to $1.56 billion, with Hoka sales up 21.9% to <a href="https://ir.deckers.com/news-events/press-releases/press-release/2024/DECKERS-BRANDS-REPORTS-THIRD-QUARTER-FISCAL-2024-FINANCIAL-RESULTS/default.aspx">$429.3 million</a>. Its net income in the quarter was 40% higher over Q3 2023.&nbsp;&nbsp;



DECK stock is up 36% in 2024. It will <a href="https://investorplace.com/2024/03/deck-stock-alert-deckers-outdoors-is-joining-the-sp-500/">join</a> the S&amp;P 500 later in March. It&rsquo;s a winner.&nbsp;



The other option besides Lamar Advertising is Idex, an Illinois-based company that makes industrial machinery and products for many end markets. Its <a href="https://www.idexcorp.com/our-businesses/business-segments/">three operating segments</a> are Fluid &amp; Metering Technologies (FMT), Health &amp; Science Technologies, and Fire &amp; Safety/Diversified Products (FSDP).&nbsp;&nbsp;&nbsp;&nbsp;



In 2023, Idex had a record revenue of <a href="https://investors.idexcorp.com/node/21761/pdf">$3.3 billion</a> with a record free cash flow of $627 million, 28% higher than in 2022. According to the company, its adjusted EBITDA was $899.6 million in 2023, $6.9 million less than the S&amp;P Global Market Intelligence number, but a margin of just two basis points less at 27.5%. It&rsquo;s still terrific.



IDEX stock hasn&rsquo;t done much in the past year. The low single-digit sales growth likely had something to do with it. Despite this, I could see myself making this a long-term buy.&nbsp;



<h2>The Better Buy?</h2>



Lamar Advertising has an EBITDA margin of nearly 15 percentage points higher than Coinbase, with not almost the same amount of volatility or risk.&nbsp;



In the past, I&rsquo;ve written occasionally about Outfront Media (NYSE:<a href="https://investorplace.com/stock-quotes/out-stock-quote/">OUT</a>), one of the largest operators of outdoor billboards and transit displays in the U.S. and Canada. Lamar is a direct competitor.&nbsp;



In Jan. 2021, I suggested it might be a good stock to buy under <a href="https://investorplace.com/2021/02/7-stocks-under-20-to-buy-now/">$20</a>. At the time, it was around $18. I thought it had been battered enough by the pandemic. It&rsquo;s down another 17% since, nearly half its $28 IPO price from 2014.



Lamar&rsquo;s chart doesn&rsquo;t look much better. It&rsquo;s up 51% over the past five years, 81% higher than OUT, but still trailing the index.&nbsp;



In 2023, its adjusted EBITDA increased by 5.1% to <a href="https://ir.lamar.com/news-releases/news-release-details/lamar-advertising-company-announces-fourth-quarter-and-year-4">$985.7 million</a>, while its sales increased by 3.9% to $2.11 billion. However, its total debt of $3.34 billion is 28% of its market cap. That leaves little room for error.



With projected 2024 adjusted funds from operations of $7.75 a share at the midpoint of its guidance, it trades at 15.0x this estimate. That&rsquo;s not cheap.&nbsp;



In conclusion, COIN stock is a good bet on the growth of cryptocurrency and blockchain if you&rsquo;re an aggressive investor. If you&rsquo;re not, Deckers is the way to go.&nbsp;&nbsp;



On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/03/betting-on-bitcoin-does-coinbase-stocks-surge-signal-a-buy/">Betting on Bitcoin: Does Coinbase Stock&#8217;s Surge Signal a Buy?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Betting on Bitcoin: Does Coinbase Stock's Surge Signal a Buy?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Stock markets are reaching new highs and exuberance is in the air. For value investors, this might seem like a perplexing time.



However, there are still bargains to be found&hellip; outside of the technology sector. With these three top <a href="https://investorplace.com/industries/healthcare/">healthcare stocks</a> to buy, for example, there are high quality companies still selling at affordable prices. If and when the market enthusiasm spreads into the healthcare sector, these three stocks should surge.



<h2>Johnson &amp; Johnson (JNJ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/jnj1600c-300x169.jpg" alt="A red Johnson &amp; Johnson (JNJ) sign hangs inside in Moscow, Russia."><div>Source: Alexander Tolstykh / Shutterstock.com</div></div>Johnson &amp; Johnson (NYSE:<a href="https://investorplace.com/stock-quotes/jnj-stock-quote/">JNJ</a>) is one of the world&rsquo;s leading healthcare companies. In business for 138 years, J&amp;J has built a tremendous track record for healthcare innovation and sound financial practices.



JNJ stock makes for a perfect defensive pick. People still buy medical devices and drugs regardless of the broader economic climate. With the stock market hitting ever-higher highs, the odds of a serious correction are mounting.



JNJ stock, by contrast, has barely rallied over the past four years and sells for just <a href="https://seekingalpha.com/symbol/JNJ/earnings/estimates">15 times forward earnings</a>. It is a Dividend Aristocrat and offers a healthy 3.0% dividend yield. It can afford these generous dividends as the company generates more than $15 billion annually in free cash flow and has a rock solid balance sheet.



This sets it up well to be a safe harbor pick that health care investors can take comfort in owning if and when another <a href="https://investorplace.com/2024/02/7-dividend-stocks-every-investor-should-own-to-survive-a-market-crash-2/">bear market</a> hits.



<h2>Charles River Laboratories (CRL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/crl-stock-1-scaled-e1686670408151-300x169.jpg" alt="The logo for Charles River Laboratories (CRL) displayed on a smartphone with a blue stock chart in the background."><div>Source: IgorGolovniov / Shutterstock.com</div></div>Charles River Laboratories (NYSE:<a href="https://investorplace.com/stock-quotes/crl-stock-quote/">CRL</a>) has built a unique business. The Boston-based life sciences firm was founded in 1947 to provides the lab specimens &mdash; such as mice, rats and monkeys &mdash; for clinical trials on pharmaceutical drugs. 



As the biotech industry has blossomed, Charles River&rsquo;s business has grown tremendously. Drug safety is a huge market. The Charles River of today isn&rsquo;t just lab rats but also software and consulting functions along with providing clinical research support for pharma and biotech companies.



All told, Charles River was involved in the development of an astounding&nbsp;<a href="https://www.morningstar.com/company-reports/1157228-narrow-moat-charles-river-benefits-from-healthy-demand-and-pricing-gains-globally?listing=0P00000174">80%</a>&nbsp;of all drugs which received FDA approval over the past few years. In other words, Charles River essentially gets to charge a small tax on virtually all new pharmaceutical drugs that make it to market.



Charles River shares slumped over the past two years as COVID-19 related testing and development revenues faded away. However, the company is back on the upswing; it just delivered a strong&nbsp;<a href="https://www.businesswire.com/news/home/20240214568393/en/Charles-River-Laboratories-Announces-Fourth-Quarter-and-Full-Year-2023-Results-and-Provides-2024-Guidance">earnings report</a>&nbsp;and the company&rsquo;s outlook is improving. Analysts foresee the clinical research market returning to growth later this year. 



The stock recently hit 52-week highs but is still at a reasonable 24 times forward earnings. That&rsquo;s a fine price given the firm&rsquo;s track record of double-digit annualized earnings growth over the long haul.



<h2>Medtronic (MDT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/mdt-stock-1-300x169.jpg" alt="Medtronic (MDT) sign outside office building representing healthcare stocks"><div>Source: JHVEPhoto / Shutterstock.com</div></div>Medtronic (NYSE:<a href="https://investorplace.com/stock-quotes/mdt-stock-quote/">MDT</a>) is one of the world&rsquo;s largest medical device companies with annual revenues of more than $30 billion.



Like Johnson &amp; Johnson, Medtronic investors have not had much to cheer about recently. Incredibly enough, MDT stock is actually down slightly over the past five years. Compared to the broader S&amp;P 500, that&rsquo;s a significant level of underperformance.



Initially, this lag made sense. Many people delayed elective surgeries during the pandemic. And supply chain issues caused medical device makers to struggle to keep inventory supplied in some product categories.



However, industry conditions have largely normalized now, yet MDT shares are still in their slump. That should be about to change, however. 



The company&rsquo;s recent fiscal year Q3 results were well ahead of expectations. Not only that, but the company posted improving numbers across all business segments. Additionally, it <a href="https://seekingalpha.com/news/4068953-medtronic-fy-2024-q3-results-bode-well-future">raised guidance</a> for 2024, showing that the current turnaround has momentum. That makes MDT stock a bargain at less than 17 times forward earnings.



On the date of publication, Ian Bezek held a long position in JNJ, CRL, and MDT stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.




<div>Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/the-top-3-healthcare-stocks-to-buy-in-march-2024/">The Top 3 Healthcare Stocks to Buy in March 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Top 3 Healthcare Stocks to Buy in March 2024

Charles River brokers gene therapy manufacturing pact with Navega Therapeutics

Tracking John Rogers' Ariel Investments Portfolio - Q4 2023 Update

These are the neglected stocks within each sector - BofA

These are the most neglected stocks within each sector - BofA

Charles River, Axovia to collaborate on gene therapy development

ALGN

ALLE

AMCR

AMZN

BAIDF

BIDU

CHKP

CHTR

COHR

DECK

ENPH

FITB

GNRC

GNTX

ILMN

LAMR

LESL

MPWR

MSFT

MSGE

NTRS

NTRSO

PANW

PODD

QRVO

SBAC

SPHR

SRCL

XRAY

ZION

Press Releases

Charles River Laboratories Showcases Technology-Driven Capabilities at AACR 2024

Legal

CHARLES RIVER ALERT: Bragar Eagel & Squire, P.C. is Investigating Charles River Laboratories International, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Charles River to Perform Plasmid Production for Ship of Theseus

Charles River Announces Rare Disease Gene Therapy Collaboration with Axovia Therapeutics

Charles River and Deciphex Launch Patholytix Foresight, a Transformative AI-Powered Decision Support Tool for Toxicologic Pathology

Charles River Laboratories Schedules First-Quarter 2024 Earnings Release and Conference Call

Charles River Laboratories Launches Alternative Methods Advancement Project to Reduce Reliance on Animal Testing

Charles River Laboratories Achieves 100% Renewable Electricity Usage Globally

CRL INVESTIGATION ALERT: Johnson Fistel LLP Investigates Charles River Laboratories' Directors and Officers for Breach of Fiduciary Duties