Victory Capital Management Inc. lowered its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 25.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 348,276 shares of the medical research company's stock after selling 117,418 shares during the quarter. Victory Capital Management Inc. owned 0.67% of Charles River Laboratories International worth $68,600,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of 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 buying an additional 3,714 shares in the last quarter. Baillie Gifford & Co. increased its position in Charles River Laboratories International by 1.6% during the 3rd quarter. Baillie Gifford & Co. now owns 68,585 shares of the medical research company's stock worth $13,509,000 after purchasing an additional 1,048 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in Charles River Laboratories International during the 3rd quarter worth about $201,000. WCM Investment Management LLC increased its position in Charles River Laboratories International by 33.3% during the 3rd quarter. WCM Investment Management LLC now owns 10,367 shares of the medical research company's stock worth $2,056,000 after purchasing an additional 2,589 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in Charles River Laboratories International by 61.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,616 shares of the medical research company's stock worth $318,000 after purchasing an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.
Insiders Place Their Bets
In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of Charles River Laboratories International stock in a transaction that occurred 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 directly owns 12,386 shares in the company, valued at $2,676,862.32. The trade was a 34.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
Charles River Laboratories International Stock Down 3.7 %
Charles River Laboratories International stock traded down $7.35 during midday trading on Friday, hitting $189.55. 901,179 shares of the company were exchanged, compared to its average volume of 621,808. The company's fifty day moving average price is $195.26 and its 200-day moving average price is $207.82. The company has a market cap of $9.69 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 5.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. Charles River Laboratories International, Inc. has a fifty-two week low of $176.48 and a fifty-two week high of $275.00.
Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.43 by $0.16. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. Charles River Laboratories International's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.72 EPS. On average, research analysts predict that Charles River Laboratories International, Inc. will post 10.19 EPS for the current fiscal year.
Charles River Laboratories International announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of analysts recently commented on CRL shares. The Goldman Sachs Group dropped their price objective on Charles River Laboratories International from $290.00 to $250.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Evercore ISI lifted their price objective on Charles River Laboratories International from $190.00 to $225.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Barclays lowered their price target on Charles River Laboratories International from $230.00 to $210.00 and set an "equal weight" rating for the company in a 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 report on Thursday, November 7th. Finally, UBS Group lifted their price target on Charles River Laboratories International from $240.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Charles River Laboratories International has a consensus rating of "Hold" and a consensus price target of $217.54.
Check Out Our Latest Research Report on Charles River Laboratories International
Charles River Laboratories International Profile
(
Free Report)
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).
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