Primecap Management Co. CA Reduces Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Primecap Management Co. CA lowered its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 0.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 273,620 shares of the medical research company’s stock after selling 110 shares during the period. Primecap Management Co. CA’s holdings in Charles River Laboratories International were worth $53,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CRL. Tortoise Investment Management LLC boosted its stake in shares of Charles River Laboratories International by 77.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 57 shares in the last quarter. Wolff Wiese Magana LLC bought a new stake in Charles River Laboratories International during the 3rd quarter valued at approximately $32,000. Assetmark Inc. grew its holdings in shares of Charles River Laboratories International by 1,153.3% during the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after acquiring an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after acquiring an additional 193 shares in the last quarter. Finally, Covestor Ltd lifted its stake 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 purchasing an additional 95 shares during the period. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Charles River Laboratories International Stock Up 3.4 %

Charles River Laboratories International stock opened at $194.37 on Friday. Charles River Laboratories International, Inc. has a 12 month low of $176.48 and a 12 month high of $275.00. The stock has a fifty day simple moving average of $195.05 and a two-hundred day simple moving average of $206.34. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 4.80 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. During the same period in the previous year, the business posted $2.72 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities 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 has approved a stock repurchase 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 buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Evercore ISI upped their price target on Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. UBS Group increased their price target on shares of 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. Baird R W lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. CLSA downgraded shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price for the company. in a research note on Monday. Finally, JPMorgan Chase & Co. cut Charles River Laboratories International from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $214.38.

Charles River Laboratories International Company 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).