Bellevue Group AG Sells 159,587 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Bellevue Group AG lowered its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 68.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,115 shares of the medical research company's stock after selling 159,587 shares during the period. Bellevue Group AG owned approximately 0.14% of Charles River Laboratories International worth $14,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CRL. Tidal Investments LLC boosted its position in shares of Charles River Laboratories International by 99.8% in the 1st quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company's stock valued at $1,435,000 after purchasing an additional 2,646 shares during the period. Comerica Bank lifted its position in shares of Charles River Laboratories International by 5.6% in the first quarter. Comerica Bank now owns 17,514 shares of the medical research company's stock worth $4,745,000 after buying an additional 927 shares during the last quarter. Cetera Investment Advisers boosted its position in Charles River Laboratories International by 223.4% during the first quarter. Cetera Investment Advisers now owns 9,740 shares of the medical research company's stock worth $2,639,000 after purchasing an additional 6,728 shares during the period. Cetera Advisors LLC grew its stake in Charles River Laboratories International by 197.1% in the 1st quarter. Cetera Advisors LLC now owns 3,357 shares of the medical research company's stock valued at $910,000 after buying an additional 2,227 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Charles River Laboratories International by 94.3% in the second quarter. GAMMA Investing LLC now owns 849 shares of the medical research company's stock worth $175,000 after purchasing an additional 412 shares during the period. 98.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRL has been the subject of several research reports. JPMorgan Chase & Co. cut Charles River Laboratories International from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. TD Cowen lifted their target price on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Bank of America downgraded shares of Charles River Laboratories International from a "buy" rating to a "neutral" rating and cut their price target for the company from $250.00 to $215.00 in a research report on Wednesday, October 2nd. Redburn Atlantic began coverage on Charles River Laboratories International in a report on Monday, October 14th. They set a "sell" rating and a $151.00 target price on the stock. Finally, Baird R W lowered shares of Charles River Laboratories International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $214.38.

Charles River Laboratories International Stock Down 0.3 %

Shares of NYSE:CRL traded down $0.53 during midday trading on Friday, hitting $199.06. The stock had a trading volume of 287,759 shares, compared to its average volume of 780,522. The company has a market cap of $10.18 billion, a P/E ratio of 24.91, a PEG ratio of 5.13 and a beta of 1.38. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. The business's 50-day simple moving average is $194.32 and its 200-day simple moving average is $204.75. Charles River Laboratories International, Inc. has a 12 month low of $176.48 and a 12 month high of $275.00.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.16. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $975.99 million. During the same period last year, the firm posted $2.72 earnings per share. The business's revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts forecast 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 approved a stock repurchase plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the transaction, the director now owns 12,386 shares in the company, valued at $2,676,862.32. This represents a 34.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Profile

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).