CIBC Asset Management Inc Raises Position in Charles River Laboratories International, Inc. (NYSE:CRL)

CIBC Asset Management Inc raised its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,531 shares of the medical research company’s stock after buying an additional 595 shares during the quarter. CIBC Asset Management Inc’s holdings in Charles River Laboratories International were worth $1,483,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its holdings in shares of Charles River Laboratories International by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after purchasing an additional 57 shares in the last quarter. Wolff Wiese Magana LLC bought a new position in shares of Charles River Laboratories International in the 3rd quarter worth $32,000. Assetmark Inc. increased its holdings in shares of Charles River Laboratories International by 1,153.3% in the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after buying an additional 173 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Charles River Laboratories International by 219.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after acquiring an additional 193 shares during the last quarter. Finally, Covestor Ltd grew its position in Charles River Laboratories International by 40.9% in the third quarter. Covestor Ltd now owns 327 shares of the medical research company’s stock worth $65,000 after acquiring an additional 95 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Stock Down 0.8 %

Shares of NYSE:CRL opened at $186.06 on Wednesday. The stock’s 50-day moving average is $195.16 and its 200 day moving average is $206.56. The company has a market cap of $9.52 billion, a PE ratio of 23.29, a P/E/G ratio of 4.84 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. Charles River Laboratories International, Inc. has a 1 year low of $176.48 and a 1 year high of $275.00.

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

Charles River Laboratories International declared that its board has initiated a share repurchase program 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 programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CRL shares. Bank of America lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $215.00 in a research note on Wednesday, October 2nd. StockNews.com lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. The Goldman Sachs Group decreased their price target on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. UBS Group upped their price objective on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, 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 on the stock in a research report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Charles River Laboratories International has an average rating of “Hold” and a consensus target price of $214.38.

Insiders Place Their Bets

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the transaction, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Charles River Laboratories International 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).