Charles River Laboratories International, Inc. (NYSE:CRL) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC decreased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,104 shares of the medical research company’s stock after selling 155 shares during the period. Portside Wealth Group LLC’s holdings in Charles River Laboratories International were worth $217,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Trust Walden Corp increased its stake in Charles River Laboratories International by 2.8% during the second quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company’s stock valued at $41,381,000 after purchasing an additional 5,375 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Charles River Laboratories International by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 56,840 shares of the medical research company’s stock valued at $15,401,000 after acquiring an additional 2,739 shares during the period. Natixis bought a new stake in Charles River Laboratories International in the 1st quarter valued at about $1,058,000. Tidal Investments LLC raised its holdings in shares of Charles River Laboratories International by 99.8% during the first 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 last quarter. Finally, Epoch Investment Partners Inc. boosted its position in shares of Charles River Laboratories International by 2,733.4% during the first quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock worth $67,060,000 after buying an additional 238,766 shares during the period. 98.91% of the stock is owned by institutional investors.

Charles River Laboratories International Stock Performance

Shares of NYSE CRL opened at $215.39 on Friday. The stock’s fifty day simple moving average is $193.91 and its 200 day simple moving average is $208.27. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 7.22 and a beta of 1.38. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. Charles River Laboratories International, Inc. has a 52-week low of $166.87 and a 52-week high of $275.00.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. Charles River Laboratories International’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $2.72 EPS. As a group, sell-side analysts forecast that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Redburn Atlantic assumed coverage on Charles River Laboratories International in a research note on Monday, October 14th. They set a “sell” rating and a $151.00 target price on the stock. StockNews.com cut shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group increased their target price on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. downgraded shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. Finally, Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $215.00 in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Charles River Laboratories International presently has an average rating of “Hold” and an average price target of $214.93.

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).