Jensen Investment Management Inc. Decreases Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Jensen Investment Management Inc. decreased its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 23.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,180 shares of the medical research company's stock after selling 3,730 shares during the quarter. Jensen Investment Management Inc.'s holdings in Charles River Laboratories International were worth $2,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Tortoise Investment Management LLC grew its position in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company's stock worth $27,000 after acquiring an additional 57 shares in the last quarter. Headlands Technologies LLC bought a new stake in Charles River Laboratories International in the first quarter worth $41,000. Wolff Wiese Magana LLC acquired a new position in shares of Charles River Laboratories International during the 3rd quarter worth about $32,000. Assetmark Inc. boosted its stake in Charles River Laboratories International by 1,153.3% during the third quarter. Assetmark Inc. now owns 188 shares of the medical research company's stock worth $37,000 after buying an additional 173 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company's stock valued at $58,000 after acquiring an additional 193 shares during the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CRL shares. Robert W. Baird dropped their price objective on shares of Charles River Laboratories International from $191.00 to $190.00 and set a "neutral" rating on the stock in a report on Friday, September 20th. Redburn Atlantic started coverage on Charles River Laboratories International in a report on Monday, October 14th. They set a "sell" rating and a $151.00 price target for the company. Barclays decreased their target price on Charles River Laboratories International from $230.00 to $210.00 and set an "equal weight" rating for the company in a research report on Thursday, August 8th. CLSA upgraded Charles River Laboratories International from an "underperform" rating to a "hold" rating and set a $205.00 price target for the company in a research report on Thursday. Finally, Bank of America downgraded Charles River Laboratories International from a "buy" rating to a "neutral" rating and decreased their target price for the company from $250.00 to $215.00 in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $214.93.

Charles River Laboratories International Price Performance

Charles River Laboratories International stock traded up $5.10 during midday trading on Friday, reaching $215.39. The company's stock had a trading volume of 625,749 shares, compared to its average volume of 786,329. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 0.61. The stock has a market cap of $11.01 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 7.22 and a beta of 1.38. Charles River Laboratories International, Inc. has a 52 week low of $166.87 and a 52 week high of $275.00. The business has a 50-day moving average price of $193.91 and a 200-day moving average price of $208.05.

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 earnings per share for the quarter, beating 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 business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $975.99 million. During the same quarter last year, the firm earned $2.72 EPS. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.18 EPS for the current year.

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

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).