Sumitomo Mitsui Trust Group Inc. Grows Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Sumitomo Mitsui Trust Group Inc. grew its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 111,995 shares of the medical research company's stock after purchasing an additional 3,714 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Charles River Laboratories International worth $22,060,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 valued at $346,821,000 after buying an additional 509,163 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Charles River Laboratories International by 2,733.4% in 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 buying an additional 238,766 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of 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 valued at $170,615,000 after buying an additional 163,056 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of Charles River Laboratories International in the second quarter valued at about $33,053,000. Finally, Earnest Partners LLC raised its holdings in shares of Charles River Laboratories International by 12.4% in the second quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company's stock valued at $207,507,000 after buying an additional 110,725 shares during the last quarter. Institutional investors and hedge funds own 98.91% of the company's stock.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the completion of the sale, the director now directly 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 legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company's stock.

Charles River Laboratories International Trading Down 0.1 %

CRL stock traded down $0.24 during mid-day trading on Monday, reaching $187.50. The company's stock had a trading volume of 777,845 shares, compared to its average volume of 625,273. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 4.84 and a beta of 1.38. The business's 50 day moving average price is $195.24 and its 200 day moving average price is $206.89. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. 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 announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $975.99 million. During the same quarter in the previous year, the firm earned $2.72 earnings per share. Charles River Laboratories International's quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Charles River Laboratories International, Inc. will post 10.19 EPS for the current year.

Charles River Laboratories International declared that its board has authorized a share buyback plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have weighed in on the company. CLSA cut Charles River Laboratories International from a "hold" rating to an "underperform" rating and set a $164.00 price objective for the company. in a report on Monday. TD Cowen boosted their price objective on Charles River Laboratories International from $203.00 to $227.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Robert W. Baird dropped their price objective on Charles River Laboratories International from $191.00 to $190.00 and set a "neutral" rating for the company in a report on Friday, September 20th. UBS Group boosted their price objective on Charles River Laboratories International from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lowered their price target on Charles River Laboratories International from $290.00 to $250.00 and set a "buy" rating for the company 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $214.38.

Charles River Laboratories International Company 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).