FORA Capital LLC Sells 2,961 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

FORA Capital LLC lessened its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 32.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,026 shares of the medical research company's stock after selling 2,961 shares during the period. FORA Capital LLC's holdings in Charles River Laboratories International were worth $1,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Charles River Laboratories International by 1.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company's stock worth $394,359,000 after acquiring an additional 31,359 shares during the period. Allspring Global Investments Holdings LLC raised its position in Charles River Laboratories International by 40.7% during 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 purchasing an additional 509,163 shares in the last quarter. Earnest Partners LLC lifted its stake in Charles River Laboratories International by 12.4% during the second quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company's stock worth $207,507,000 after purchasing an additional 110,725 shares during the last quarter. Marshall Wace LLP boosted its stake 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 valued at $170,615,000 after buying an additional 163,056 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Charles River Laboratories International by 8.6% in the 2nd quarter. Sei Investments Co. now owns 624,800 shares of the medical research company's stock valued at $129,072,000 after purchasing an additional 49,451 shares in the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Stock Performance

Shares of NYSE CRL traded up $1.84 during midday trading on Thursday, reaching $199.59. The company's stock had a trading volume of 249,467 shares, compared to its average volume of 622,475. The stock 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 has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. The firm has a 50 day moving average price of $194.64 and a 200-day moving average price of $205.19. 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 posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping 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 business 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. The business's revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current year.

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

Insider Activity at Charles River Laboratories International

In related 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 sale, the director now owns 12,386 shares of the company's stock, valued at approximately $2,676,862.32. The trade was a 34.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CRL shares. Citigroup cut Charles River Laboratories International from a "neutral" rating to a "sell" rating and dropped their price target for the company from $215.00 to $175.00 in a research note on Tuesday, October 1st. StockNews.com lowered Charles River Laboratories International from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. UBS Group increased their target price on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Baird R W lowered Charles River Laboratories International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 8th. Finally, CLSA downgraded shares of Charles River Laboratories International from a "hold" rating to an "underperform" rating and set a $164.00 price target for the company. in a research report on Monday, November 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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).