The Manufacturers Life Insurance Company Has $27.04 Million Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

The Manufacturers Life Insurance Company lessened its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 42.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,265 shares of the medical research company's stock after selling 102,648 shares during the period. The Manufacturers Life Insurance Company owned about 0.27% of Charles River Laboratories International worth $27,037,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Boston Trust Walden Corp grew its stake in Charles River Laboratories International by 2.8% in the second quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company's stock valued at $41,381,000 after purchasing an additional 5,375 shares in the last quarter. Tidal Investments LLC increased its holdings in Charles River Laboratories International by 99.8% in the first quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company's stock worth $1,435,000 after buying an additional 2,646 shares during the last quarter. Quest Partners LLC raised its position in Charles River Laboratories International by 135,175.0% during the second quarter. Quest Partners LLC now owns 5,411 shares of the medical research company's stock valued at $1,118,000 after acquiring an additional 5,407 shares in the last quarter. New England Research & Management Inc. bought a new position in Charles River Laboratories International during the second quarter valued at approximately $506,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Charles River Laboratories International by 3.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,995 shares of the medical research company's stock valued at $22,060,000 after acquiring an additional 3,714 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles River Laboratories International

In other news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction 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 completion of the transaction, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Charles River Laboratories International Stock Performance

NYSE CRL traded down $0.53 during midday trading on Friday, hitting $199.06. The company had a trading volume of 287,759 shares, compared to its average volume of 621,025. The firm has a fifty day simple moving average of $194.32 and a two-hundred day simple moving average of $204.95. Charles River Laboratories International, Inc. has a fifty-two week low of $176.48 and a fifty-two week high of $275.00. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 5.15 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.16. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $2.72 earnings per share. Equities analysts forecast that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its board has authorized a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRL. StockNews.com lowered shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Bank of America cut Charles River Laboratories International from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $250.00 to $215.00 in a research report on Wednesday, October 2nd. Barclays lowered their price objective on Charles River Laboratories International from $230.00 to $210.00 and set an "equal weight" rating on the stock in a report on Thursday, August 8th. Evercore ISI boosted their target price on Charles River Laboratories International from $190.00 to $225.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Finally, Baird R W cut Charles River Laboratories International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average 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).