Mudita Advisors LLP Reduces Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Mudita Advisors LLP lessened its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 22.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,707 shares of the medical research company's stock after selling 7,893 shares during the quarter. Charles River Laboratories International accounts for about 2.9% of Mudita Advisors LLP's investment portfolio, making the stock its 11th biggest holding. Mudita Advisors LLP owned about 0.05% of Charles River Laboratories International worth $5,260,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also 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 purchasing an additional 509,163 shares during the last quarter. Marshall Wace LLP lifted its position in Charles River Laboratories International by 24.6% during the 2nd quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company's stock worth $170,615,000 after buying an additional 163,056 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Charles River Laboratories International during the 2nd quarter worth about $33,053,000. Earnest Partners LLC grew its holdings 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 valued at $207,507,000 after acquiring an additional 110,725 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Charles River Laboratories International by 73.6% during the second quarter. The Manufacturers Life Insurance Company now owns 239,913 shares of the medical research company's stock worth $49,561,000 after acquiring an additional 101,732 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Charles River Laboratories International Stock Performance

Charles River Laboratories International stock traded up $1.67 during midday trading on Wednesday, hitting $199.42. The company's stock had a trading volume of 141,145 shares, compared to its average volume of 621,943. The company has a market cap of $10.20 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 5.19 and a beta of 1.38. Charles River Laboratories International, Inc. has a 1-year low of $176.48 and a 1-year high of $275.00. 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 company has a 50-day moving average price of $194.77 and a two-hundred day moving average price of $205.23.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $975.99 million. During the same quarter last year, the business posted $2.72 EPS. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. As a group, sell-side 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 has approved a share 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 purchase up to 9.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 6,621 shares of the business's stock in a transaction on 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 sale, the director now owns 12,386 shares in the company, valued at $2,676,862.32. The trade was a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on CRL shares. The Goldman Sachs Group lowered their price target on Charles River Laboratories International from $290.00 to $250.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They issued a "sell" rating and a $151.00 price objective for the company. TD Cowen upped their target price on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the company a "hold" rating in a report on Monday, November 11th. UBS Group lifted their price target 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, Citigroup downgraded Charles River Laboratories International from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $215.00 to $175.00 in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $214.38.

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).