King Luther Capital Management Corp Sells 252,657 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

King Luther Capital Management Corp cut its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 79.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,689 shares of the medical research company's stock after selling 252,657 shares during the quarter. King Luther Capital Management Corp owned about 0.13% of Charles River Laboratories International worth $12,939,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRL. Tortoise Investment Management LLC raised 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 valued at $27,000 after acquiring an additional 57 shares during the period. Wolff Wiese Magana LLC acquired a new stake in Charles River Laboratories International in the third quarter worth $32,000. Assetmark Inc. boosted its position in shares of 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 purchasing an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Charles River Laboratories International by 219.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company's stock worth $58,000 after purchasing an additional 193 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Charles River Laboratories International by 40.9% in the 3rd quarter. Covestor Ltd now owns 327 shares of the medical research company's stock valued at $65,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 98.91% of the company's stock.

Charles River Laboratories International Stock Up 0.8 %

CRL traded up $1.58 on Friday, hitting $195.77. 575,545 shares of the company were exchanged, compared to its average volume of 625,005. The stock's fifty day moving average is $194.99 and its 200-day moving average is $206.07. Charles River Laboratories International, Inc. has a 12 month low of $176.48 and a 12 month high of $275.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. The company has a market cap of $10.01 billion, a PE ratio of 24.50, a PEG ratio of 4.80 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $975.99 million. During the same quarter in the prior year, the business posted $2.72 EPS. The business's revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that Charles River Laboratories International, Inc. will post 10.19 EPS for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has approved a stock buyback program on Wednesday, August 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase 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 shares are undervalued.

Insider Activity

In related news, Director Richard F. Wallman sold 6,621 shares of the firm's stock in a transaction dated 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 directly owns 12,386 shares of the company's stock, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on CRL shares. JPMorgan Chase & Co. lowered 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 report on Thursday, August 8th. StockNews.com lowered Charles River Laboratories International from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. UBS Group increased their target price on Charles River Laboratories International from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group cut their price target on shares of Charles River Laboratories International from $290.00 to $250.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Finally, Barclays lowered their price objective on shares of 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. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $214.38.

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).