Sanibel Captiva Trust Company Inc. Cuts Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Sanibel Captiva Trust Company Inc. lowered its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,800 shares of the medical research company’s stock after selling 4,611 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Charles River Laboratories International were worth $4,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CRL. Point72 Asset Management L.P. boosted its stake in shares of Charles River Laboratories International by 499.1% during the fourth quarter. Point72 Asset Management L.P. now owns 368,984 shares of the medical research company’s stock valued at $87,228,000 after purchasing an additional 307,398 shares during the period. Epoch Investment Partners Inc. lifted its stake in Charles River Laboratories International by 2,733.4% in the first quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock worth $67,060,000 after acquiring an additional 238,766 shares during the period. Marshall Wace LLP boosted its holdings in Charles River Laboratories International by 24.6% in the second quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock valued at $170,615,000 after acquiring an additional 163,056 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in Charles River Laboratories International in the second quarter valued at $33,053,000. Finally, Allspring Global Investments Holdings LLC increased its position in Charles River Laboratories International by 11.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock valued at $258,559,000 after purchasing an additional 132,802 shares during the period. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Trading Up 0.5 %

NYSE:CRL opened at $187.70 on Thursday. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 4.09 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average price is $200.64 and its 200-day moving average price is $217.30. Charles River Laboratories International, Inc. has a 52 week low of $161.65 and a 52 week high of $275.00.

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

Charles River Laboratories International announced that its Board of Directors has approved a share repurchase program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays dropped their target price on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Citigroup cut Charles River Laboratories International from a “neutral” rating to a “sell” rating and cut their price objective for the company from $215.00 to $175.00 in a research report on Tuesday, October 1st. Robert W. Baird decreased their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. StockNews.com lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, TD Cowen decreased their price objective on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $217.33.

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).