Truvestments Capital LLC Increases Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Truvestments Capital LLC boosted its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 17.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,407 shares of the medical research company’s stock after acquiring an additional 350 shares during the quarter. Truvestments Capital LLC’s holdings in Charles River Laboratories International were worth $474,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Charles River Laboratories International by 1.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock worth $394,359,000 after purchasing an additional 31,359 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Charles River Laboratories International by 40.7% during 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 acquiring an additional 509,163 shares during the period. Earnest Partners LLC boosted 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 during the last quarter. Marshall Wace LLP increased its stake in shares of Charles River Laboratories International by 24.6% in the second 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 period. Finally, Sei Investments Co. raised its holdings in shares of Charles River Laboratories International by 8.6% during the second quarter. Sei Investments Co. now owns 624,800 shares of the medical research company’s stock worth $129,072,000 after purchasing an additional 49,451 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Up 2.8 %

CRL opened at $201.16 on Tuesday. The company has a market cap of $10.29 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 5.05 and a beta of 1.38. Charles River Laboratories International, Inc. has a twelve month low of $176.48 and a twelve month high of $275.00. The company has a 50-day moving average price of $194.94 and a 200 day moving average price of $205.44. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.72 earnings per share. Sell-side analysts expect 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 approved a share buyback plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 9.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Charles River Laboratories International

In other news, Director Richard F. Wallman sold 6,621 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the completion of the sale, the director now owns 12,386 shares of the company’s stock, valued at $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CRL has been the topic of several recent research reports. CLSA lowered shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price target on the stock. in a report on Monday, November 18th. The Goldman Sachs Group dropped their target price on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Robert W. Baird decreased their price target on 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. Redburn Atlantic started coverage on shares of Charles River Laboratories International in a research note on Monday, October 14th. They set a “sell” rating and a $151.00 price objective on the stock. Finally, Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and decreased their target price for the company from $250.00 to $215.00 in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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).