Congress Asset Management Co. Sells 9,239 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Congress Asset Management Co. lowered its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 433,865 shares of the medical research company's stock after selling 9,239 shares during the quarter. Congress Asset Management Co. owned 0.84% of Charles River Laboratories International worth $85,458,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CRL. Allspring Global Investments Holdings LLC raised its position in Charles River Laboratories International by 40.7% in the 3rd 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. Epoch Investment Partners Inc. increased its stake in Charles River Laboratories International by 2,733.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company's stock worth $67,060,000 after acquiring an additional 238,766 shares during the period. Marshall Wace LLP grew 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 acquiring an additional 163,056 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in Charles River Laboratories International during the 2nd quarter worth about $33,053,000. Finally, Earnest Partners LLC increased its position in 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 buying an additional 110,725 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CRL. Citigroup downgraded Charles River Laboratories International from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $215.00 to $175.00 in a research report on Tuesday, October 1st. Robert W. Baird lowered their price objective on shares of 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. Evercore ISI lowered shares of Charles River Laboratories International from an "outperform" rating to an "inline" rating and lowered their target price for the company from $225.00 to $190.00 in a report on Monday, October 7th. StockNews.com raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. Finally, Bank of America downgraded shares of Charles River Laboratories International from a "buy" rating to a "neutral" rating and cut their price objective for the company from $250.00 to $215.00 in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $209.00.

Charles River Laboratories International Stock Down 1.5 %

Shares of Charles River Laboratories International stock traded down $2.81 during trading hours on Thursday, hitting $178.58. The company had a trading volume of 1,015,346 shares, compared to its average volume of 604,548. The company has a market cap of $9.22 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36. The company's 50-day moving average is $194.66 and its two-hundred day moving average is $210.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. Charles River Laboratories International, Inc. has a twelve month low of $161.65 and a twelve month high of $275.00.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.41. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. Analysts anticipate that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its board has approved a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding 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 management believes its shares are 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).