Lathrop Investment Management Corp Cuts Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Lathrop Investment Management Corp lessened its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 16.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,414 shares of the medical research company’s stock after selling 4,874 shares during the quarter. Lathrop Investment Management Corp’s holdings in Charles River Laboratories International were worth $5,006,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRL. Tortoise Investment Management LLC grew its holdings in shares of 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 purchasing an additional 57 shares in the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Charles River Laboratories International in the third quarter worth $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 worth $37,000 after acquiring an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake 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, Covestor Ltd boosted its holdings in Charles River Laboratories International by 40.9% in the third 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 currently owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $194.37 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. Charles River Laboratories International, Inc. has a 12-month low of $176.48 and a 12-month high of $275.00. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 4.80 and a beta of 1.38. The stock has a 50 day simple moving average of $195.05 and a 200-day simple moving average of $206.34.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.43 by $0.16. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.72 EPS. On average, equities analysts forecast that Charles River Laboratories International, Inc. will post 10.19 EPS for the current year.

Charles River Laboratories International declared that its board has authorized 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 reacquire up to 9.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

CRL has been the topic of a number of analyst reports. Baird R W lowered Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. CLSA cut shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a report on Monday. UBS Group boosted 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 report on Thursday, November 7th. Citigroup downgraded Charles River Laboratories International from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $215.00 to $175.00 in a report on Tuesday, October 1st. 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 analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $214.38.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

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).