Charles River Laboratories International, Inc. (NYSE:CRL) Position Raised by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,995 shares of the medical research company’s stock after acquiring an additional 3,714 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Charles River Laboratories International were worth $22,060,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Boston Trust Walden Corp boosted its stake in Charles River Laboratories International by 2.8% during the 2nd 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 period. Natixis acquired a new stake in shares of Charles River Laboratories International in the first quarter valued at approximately $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. 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. Finally, Quest Partners LLC grew its holdings in Charles River Laboratories International by 135,175.0% in the 2nd quarter. Quest Partners LLC now owns 5,411 shares of the medical research company’s stock worth $1,118,000 after buying an additional 5,407 shares in the last quarter. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Trading Down 4.7 %

Shares of NYSE CRL opened at $187.74 on Monday. The business has a fifty day simple moving average of $195.26 and a 200-day simple moving average of $207.19. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 4.84 and a beta of 1.38. Charles River Laboratories International, Inc. has a 12 month low of $176.48 and a 12 month high of $275.00. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.43 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $975.99 million. During the same period last year, the company posted $2.72 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.19 EPS for the current year.

Charles River Laboratories International announced that its board has initiated 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Evercore ISI upped their price objective on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Robert W. Baird decreased their target price on shares of 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. TD Cowen boosted their price target on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. 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 analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $217.54.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the sale, the director now directly owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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).