Charles River Laboratories International, Inc.’s stock price plunges to $199.96, experiencing a significant 12.60% drop

Charles River Laboratories International, Inc. (CRL)

199.96 USD -28.84 (-12.60%) Volume: 3.95M

Charles River Laboratories International, Inc.’s stock price stands at 199.96 USD, witnessing a significant drop of -12.60% this trading session with a trading volume of 3.95M. The stock has experienced a downward trend YTD with a -15.41% change, reflecting its volatile performance in the market.

Latest developments on Charles River Laboratories International, Inc.

Charles River Laboratories has been facing a series of setbacks leading to a decline in its stock price today. The company recently announced that it expects sales to fall, causing its stock to tumble. Additionally, Charles River Labs cut its 2024 forecast due to lower demand for drug development services, further impacting investor confidence. Despite surpassing Q2 earnings and revenue estimates, the company’s lowered outlook has led to a negative market reaction. As a result, shares have fallen, prompting concerns among shareholders and analysts about the company’s future prospects.

A look at Charles River Laboratories International, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Charles River Laboratories International, Inc. provides research tools and support services that enable drug discovery and development. The company offers animal research models needed for the creation of new drugs, devices, and therapies. With a mixed outlook based on the Smartkarma Smart Scores, Charles River Laboratories scores well in terms of value, growth, and momentum. This indicates a positive long-term outlook for the company, suggesting potential for growth and value appreciation in the future.

However, the company’s outlook is dampened by lower scores in dividend and resilience. This suggests that Charles River Laboratories may not be as strong in terms of providing regular dividends to its investors or in weathering economic challenges. Despite these factors, the company’s strong performance in value, growth, and momentum bodes well for its future prospects in providing research tools and support services for drug discovery and development to its diverse customer base in the pharmaceutical, biotechnology, hospital, and academic sectors.

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