Charles River Laboratories International, Inc. (NYSE:CRL) is Meritage Group LP’s 9th Largest Position

Meritage Group LP boosted its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,185,167 shares of the medical research company’s stock after purchasing an additional 2,510 shares during the period. Charles River Laboratories International comprises approximately 5.5% of Meritage Group LP’s holdings, making the stock its 9th largest position. Meritage Group LP owned about 2.32% of Charles River Laboratories International worth $233,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP increased its position in shares of Charles River Laboratories International by 135,927.9% in the third quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company’s stock valued at $736,819,000 after buying an additional 3,738,018 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Charles River Laboratories International by 40.7% in the third 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 in the last quarter. Marshall Wace LLP increased its stake in shares of 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 purchasing an additional 163,056 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Charles River Laboratories International during the 2nd quarter worth approximately $33,053,000. Finally, Earnest Partners LLC grew its holdings in Charles River Laboratories International by 12.4% during 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 during the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Price Performance

NYSE CRL opened at $191.81 on Monday. Charles River Laboratories International, Inc. has a 1 year low of $176.48 and a 1 year high of $275.00. The stock has a market capitalization of $9.81 billion, a P/E ratio of 24.01, a P/E/G ratio of 4.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. The business’s fifty day moving average is $194.10 and its two-hundred day moving average is $203.67.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. During the same quarter in the prior year, the firm earned $2.72 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts forecast that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction dated 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 transaction, the director now owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRL has been the topic of a number of analyst reports. Citigroup lowered Charles River Laboratories International from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $215.00 to $175.00 in a research note on Tuesday, October 1st. CLSA lowered Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price target on the stock. in a research note on Monday, November 18th. Robert W. Baird lowered their price objective on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $215.00 in a research report on Wednesday, October 2nd. Finally, Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a report on Monday, October 14th. They set a “sell” rating and a $151.00 price objective on the stock. Three 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $214.38.

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).