Richard F. Wallman Sells 6,621 Shares of Charles River Laboratories International, Inc. (NYSE:CRL) Stock

Charles River Laboratories International, Inc. (NYSE:CRL) Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 12,386 shares in the company, valued at approximately $2,676,862.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Charles River Laboratories International Trading Down 4.4 %

Shares of CRL opened at $206.54 on Thursday. The stock has a market capitalization of $10.56 billion, a P/E ratio of 25.85, a PEG ratio of 5.57 and a beta of 1.38. Charles River Laboratories International, Inc. has a twelve month low of $174.92 and a twelve month 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 firm has a fifty day simple moving average of $195.14 and a two-hundred day simple moving average of $207.90.

Charles River Laboratories International (NYSE:CRL) last posted 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. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. During the same period in the prior year, the business posted $2.72 earnings per share. Charles River Laboratories International’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts anticipate that Charles River Laboratories International, Inc. will post 10.18 EPS for the current year.

Charles River Laboratories International declared that its board has initiated a stock buyback plan on Wednesday, August 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Charles River Laboratories International

Hedge funds have recently made changes to their positions in the business. Tortoise Investment Management LLC boosted its holdings in Charles River Laboratories International by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 57 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Charles River Laboratories International in the 1st quarter worth about $41,000. Wolff Wiese Magana LLC bought a new stake in shares of Charles River Laboratories International during the 3rd quarter valued at about $32,000. Assetmark Inc. increased its position in shares of Charles River Laboratories International by 1,153.3% during the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after buying an additional 173 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after buying an additional 193 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRL. Evercore ISI lifted their target price on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Baird R W cut Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. The Goldman Sachs Group dropped their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays cut their price objective 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. Finally, JPMorgan Chase & Co. cut Charles River Laboratories International from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $270.00 to $205.00 in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $217.54.

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).