Brown Capital Management LLC Sells 13,542 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Brown Capital Management LLC reduced its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 67.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,546 shares of the medical research company's stock after selling 13,542 shares during the quarter. Brown Capital Management LLC's holdings in Charles River Laboratories International were worth $1,289,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRL. Allspring Global Investments Holdings LLC increased its position in Charles River Laboratories International by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company's stock valued at $346,821,000 after acquiring an additional 509,163 shares during the period. Epoch Investment Partners Inc. raised its stake in shares of Charles River Laboratories International by 2,733.4% during the first quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company's stock valued at $67,060,000 after purchasing an additional 238,766 shares in the last quarter. Marshall Wace LLP lifted its holdings in Charles River Laboratories International by 24.6% in the second 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 period. 1832 Asset Management L.P. bought a new stake in shares of Charles River Laboratories International during the 2nd quarter worth about $33,053,000. Finally, Earnest Partners LLC lifted its stake in shares of Charles River Laboratories International by 12.4% in the 2nd quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company's stock worth $207,507,000 after acquiring an additional 110,725 shares during the period. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRL. Baird R W downgraded Charles River Laboratories International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 8th. Redburn Atlantic initiated coverage on 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. JPMorgan Chase & Co. cut shares of Charles River Laboratories International from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. TD Cowen boosted 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. Finally, Bank of America cut shares of Charles River Laboratories International from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $250.00 to $215.00 in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $214.38.

Insider Activity

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the business's stock in a transaction 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 completion of the transaction, the director now owns 12,386 shares of the company's stock, valued at $2,676,862.32. The trade was a 34.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Charles River Laboratories International Stock Up 3.4 %

CRL traded up $6.47 during trading on Thursday, reaching $194.37. 352,500 shares of the stock traded hands, compared to its average volume of 625,224. The stock's 50-day simple moving average is $195.05 and its two-hundred day simple moving average is $206.34. 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, Inc. has a fifty-two week low of $176.48 and a fifty-two week high of $275.00. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 4.80 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.72 EPS. As a group, equities research analysts expect that Charles River Laboratories International, Inc. will post 10.19 EPS for the current year.

Charles River Laboratories International declared that its Board of Directors has initiated a share buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 9.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

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).