Congress Asset Management Co. Lowers Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Congress Asset Management Co. trimmed its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 433,865 shares of the medical research company’s stock after selling 9,239 shares during the period. Congress Asset Management Co. owned about 0.84% of Charles River Laboratories International worth $85,458,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tortoise Investment Management LLC increased 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 buying an additional 57 shares in the last quarter. Wolff Wiese Magana LLC acquired a new stake in Charles River Laboratories International during the 3rd quarter valued at $32,000. Headlands Technologies LLC acquired a new position in shares of Charles River Laboratories International in the first quarter worth $41,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of 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 valued at $58,000 after acquiring an additional 193 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Charles River Laboratories International during the third quarter valued at $79,000. 98.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Baird R W lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. TD Cowen decreased their price target on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They issued a “sell” rating and a $151.00 target price on the stock. Finally, Evercore ISI lowered shares of Charles River Laboratories International from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $225.00 to $190.00 in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $209.00.

Charles River Laboratories International Stock Performance

Shares of CRL stock traded down $1.12 on Thursday, hitting $180.27. 245,508 shares of the stock traded hands, compared to its average volume of 600,820. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. Charles River Laboratories International, Inc. has a 1-year low of $161.65 and a 1-year high of $275.00. The company’s fifty day moving average is $194.66 and its 200 day moving average is $210.05. The company has a market capitalization of $9.31 billion, a PE ratio of 21.72, a PEG ratio of 5.11 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.41. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. On average, equities research analysts predict that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its board has authorized a share buyback 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 purchase up to 9.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

About Charles River Laboratories International

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).