National Bank of Canada FI Reduces Position in Charles River Laboratories International, Inc. (NYSE:CRL)

National Bank of Canada FI cut its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 65.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,589 shares of the medical research company’s stock after selling 28,089 shares during the period. National Bank of Canada FI’s holdings in Charles River Laboratories International were worth $2,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Private Advisor Group LLC purchased a new stake in Charles River Laboratories International during the 4th quarter valued at about $398,000. Dimensional Fund Advisors LP lifted its holdings in Charles River Laboratories International by 20.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 481,946 shares of the medical research company’s stock worth $113,937,000 after buying an additional 80,698 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Charles River Laboratories International by 30.8% during the 4th quarter. Principal Financial Group Inc. now owns 152,537 shares of the medical research company’s stock worth $36,060,000 after buying an additional 35,921 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Charles River Laboratories International by 17.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 7,316 shares of the medical research company’s stock worth $1,730,000 after buying an additional 1,080 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Charles River Laboratories International by 29.2% in the 4th quarter. Quadrant Capital Group LLC now owns 487 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Price Performance

Charles River Laboratories International stock opened at $193.59 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. Charles River Laboratories International, Inc. has a 1 year low of $161.65 and a 1 year high of $275.00. The firm has a 50 day moving average price of $209.56 and a 200 day moving average price of $226.42. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 3.77 and a beta of 1.37.

Charles River Laboratories International (NYSE:CRL) last released 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. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.02 earnings per share for the current year.

Charles River Laboratories International declared that its board has approved a share repurchase program on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRL. The Goldman Sachs Group reduced their price objective on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. UBS Group cut their price target on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Baird R W downgraded shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Mizuho assumed coverage on shares of Charles River Laboratories International in a research report on Friday, June 7th. They set a “neutral” rating and a $235.00 price objective on the stock. Finally, Robert W. Baird downgraded shares of Charles River Laboratories International from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $239.00 to $191.00 in a research report on Thursday, August 8th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $231.00.

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).