Park Avenue Securities LLC Sells 557 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Park Avenue Securities LLC reduced its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,344 shares of the medical research company’s stock after selling 557 shares during the quarter. Park Avenue Securities LLC’s holdings in Charles River Laboratories International were worth $659,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CRL. Epoch Investment Partners Inc. raised its holdings in Charles River Laboratories International by 2,733.4% in the 1st quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock worth $67,060,000 after purchasing an additional 238,766 shares during the period. Marshall Wace LLP raised its holdings in Charles River Laboratories International by 24.6% during 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 during the period. 1832 Asset Management L.P. bought a new stake in Charles River Laboratories International during the second quarter valued at about $33,053,000. Allspring Global Investments Holdings LLC raised its holdings in Charles River Laboratories International by 11.9% during the second 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 acquiring an additional 132,802 shares during the period. Finally, FIL Ltd raised its holdings in Charles River Laboratories International by 23.2% during the fourth quarter. FIL Ltd now owns 662,650 shares of the medical research company’s stock valued at $156,650,000 after acquiring an additional 125,000 shares during the period. 98.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. UBS Group decreased their price target on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. TD Cowen decreased their price target on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Barclays cut their price objective on 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. Finally, Bank of America lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $215.00 in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Charles River Laboratories International presently has a consensus rating of “Hold” and an average price target of $217.33.

Charles River Laboratories International Trading Up 2.0 %

Shares of NYSE CRL opened at $191.43 on Friday. The business’s 50 day moving average is $199.62 and its two-hundred day moving average is $217.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. Charles River Laboratories International, Inc. has a 1-year low of $161.65 and a 1-year high of $275.00. The stock has a market capitalization of $9.86 billion, a P/E ratio of 22.52, a PEG ratio of 4.09 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, topping 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 company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. As a group, research analysts expect that Charles River Laboratories International, Inc. will post 10.01 EPS for the current year.

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

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).