Nisa Investment Advisors LLC Sells 4,460 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Nisa Investment Advisors LLC reduced its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 39.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,742 shares of the medical research company’s stock after selling 4,460 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Charles River Laboratories International were worth $1,328,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CRL. Vanguard Group Inc. raised its holdings in Charles River Laboratories International by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock worth $1,638,290,000 after buying an additional 66,161 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Charles River Laboratories International by 1.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock worth $394,359,000 after acquiring an additional 31,359 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Charles River Laboratories International by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock valued at $346,821,000 after acquiring an additional 509,163 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Charles River Laboratories International by 3.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock worth $409,985,000 after purchasing an additional 45,079 shares during the period. Finally, Meritage Group LP increased its holdings in Charles River Laboratories International by 2.3% during the 1st quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock worth $320,336,000 after purchasing an additional 26,892 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Bank of America cut Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $215.00 in a research report on Wednesday, October 2nd. TD Cowen decreased their price target on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Robert W. Baird lowered their price objective on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Barclays reduced 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 report on Thursday, August 8th. Finally, Citigroup lowered shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and lowered their price target for the company 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, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Charles River Laboratories International has a consensus rating of “Hold” and a consensus target price of $209.00.

Charles River Laboratories International Stock Performance

Shares of NYSE CRL opened at $180.96 on Monday. Charles River Laboratories International, Inc. has a 12 month low of $166.87 and a 12 month high of $275.00. The stock has a 50 day moving average of $193.72 and a 200-day moving average of $209.29. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $9.34 billion, a P/E ratio of 21.67, a P/E/G ratio of 6.12 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings data 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. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. As a group, equities research analysts predict that Charles River Laboratories International, Inc. will post 10.01 EPS for the current year.

Charles River Laboratories International declared that its Board of Directors has authorized a share buyback 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 buy up to 9.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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).