Financial Counselors Inc. lifted its stake in Charles River Laboratories International, Inc. (NYSE:CRL – Free Report) by 22.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,592 shares of the medical research company’s stock after purchasing an additional 4,896 shares during the quarter. Financial Counselors Inc.’s holdings in Charles River Laboratories International were worth $5,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in the stock. Tidal Investments LLC boosted its stake in shares of Charles River Laboratories International by 99.8% during the 1st quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company’s stock valued at $1,435,000 after buying an additional 2,646 shares during the period. Comerica Bank raised its stake in shares of Charles River Laboratories International by 5.6% during the 1st quarter. Comerica Bank now owns 17,514 shares of the medical research company’s stock worth $4,745,000 after purchasing an additional 927 shares in the last quarter. Atria Investments Inc raised its stake in shares of Charles River Laboratories International by 19.6% during the 1st quarter. Atria Investments Inc now owns 17,502 shares of the medical research company’s stock worth $4,742,000 after purchasing an additional 2,873 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Charles River Laboratories International by 223.4% during the 1st quarter. Cetera Investment Advisers now owns 9,740 shares of the medical research company’s stock valued at $2,639,000 after buying an additional 6,728 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in shares of Charles River Laboratories International by 197.1% in the 1st quarter. Cetera Advisors LLC now owns 3,357 shares of the medical research company’s stock valued at $910,000 after buying an additional 2,227 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.
Charles River Laboratories International Trading Up 0.9 %
Shares of Charles River Laboratories International stock opened at $199.59 on Friday. Charles River Laboratories International, Inc. has a 1 year low of $176.48 and a 1 year high of $275.00. The company’s fifty day simple moving average is $194.64 and its 200-day simple moving average is $205.19. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 5.19 and a beta of 1.38. 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 declared that its Board of Directors has approved a share repurchase program on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on CRL. JPMorgan Chase & Co. lowered shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. Barclays cut their price target on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. StockNews.com downgraded shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $215.00 in a report on Wednesday, October 2nd. Finally, 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 research note on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $214.38.
View Our Latest Research Report on CRL
Insider Activity at Charles River Laboratories International
In other news, 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 transaction of $1,430,930.52. Following the completion of the transaction, the director now directly owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.
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).
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