Charles River Laboratories International, Inc. (NYSE:CRL) Position Increased by Financial Counselors Inc.

Financial Counselors Inc. lifted its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 22.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 26,592 shares of the medical research company’s stock after buying an additional 4,896 shares during the quarter. Financial Counselors Inc. owned approximately 0.05% of Charles River Laboratories International worth $5,238,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in Charles River Laboratories International by 40.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock worth $346,821,000 after acquiring an additional 509,163 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Charles River Laboratories International by 24.6% in the 2nd quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock worth $170,615,000 after purchasing an additional 163,056 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in Charles River Laboratories International during the 2nd quarter valued at approximately $33,053,000. Earnest Partners LLC grew its stake in Charles River Laboratories International by 12.4% during the 2nd quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock worth $207,507,000 after buying an additional 110,725 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Charles River Laboratories International by 73.6% in the second quarter. The Manufacturers Life Insurance Company now owns 239,913 shares of the medical research company’s stock worth $49,561,000 after buying an additional 101,732 shares during the period. 98.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles River Laboratories International

In other news, Director Richard F. Wallman sold 6,621 shares of Charles River Laboratories International stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total value of $1,430,930.52. Following the transaction, the director now directly owns 12,386 shares of the company’s stock, valued at $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by insiders.

Charles River Laboratories International Stock Up 0.9 %

NYSE CRL opened at $199.59 on Friday. Charles River Laboratories International, Inc. has a 12 month low of $176.48 and a 12 month high of $275.00. The company has a market capitalization of $10.21 billion, a P/E ratio of 24.98, a PEG ratio of 5.19 and a beta of 1.38. The company’s 50 day simple moving average is $194.64 and its 200 day simple moving average is $205.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. During the same quarter in the previous year, the business posted $2.72 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its board has authorized a stock repurchase program on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of Charles River Laboratories International in a research note on Monday, October 14th. They set a “sell” rating and a $151.00 target price for the company. Citigroup lowered Charles River Laboratories International from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $215.00 to $175.00 in a report on Tuesday, October 1st. The Goldman Sachs Group cut their target price on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Barclays decreased their price target on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, UBS Group lifted their price objective on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $214.38.

About Charles River Laboratories International

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).