Bank of Montreal Can Sells 1,975 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Bank of Montreal Can trimmed its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,229 shares of the medical research company’s stock after selling 1,975 shares during the period. Bank of Montreal Can’s holdings in Charles River Laboratories International were worth $8,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Trust Walden Corp grew its holdings in Charles River Laboratories International by 2.8% in 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 buying an additional 5,375 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Charles River Laboratories International by 99.8% in the first quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company’s stock worth $1,435,000 after acquiring an additional 2,646 shares during the last quarter. Quest Partners LLC increased its position in Charles River Laboratories International by 135,175.0% during the second quarter. Quest Partners LLC now owns 5,411 shares of the medical research company’s stock worth $1,118,000 after acquiring an additional 5,407 shares during the period. New England Research & Management Inc. acquired a new position in Charles River Laboratories International during the 2nd quarter valued at $506,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Charles River Laboratories International by 3.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,995 shares of the medical research company’s stock valued at $22,060,000 after purchasing an additional 3,714 shares during the period. 98.91% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Price Performance

CRL opened at $199.06 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. The stock has a market capitalization of $10.18 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 5.13 and a beta of 1.38. The company’s 50 day simple moving average is $194.32 and its 200-day simple moving average is $204.75. Charles River Laboratories International, Inc. has a one year low of $176.48 and a one year high of $275.00.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.16. The firm had revenue of $1.01 billion during 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%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.72 EPS. Sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its board has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CRL shares. Bank of America downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $215.00 in a report on Wednesday, October 2nd. The Goldman Sachs Group cut their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Barclays decreased their price objective on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, CLSA downgraded Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price objective on the stock. in a report on Monday, November 18th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $214.38.

Insider Activity at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of Charles River Laboratories International stock in a transaction 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 completion of the sale, the director now directly owns 12,386 shares of the company’s stock, valued at $2,676,862.32. The trade was a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

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).