Brown Capital Management LLC Has $1.29 Million Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Brown Capital Management LLC trimmed its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 67.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,546 shares of the medical research company’s stock after selling 13,542 shares during the period. Brown Capital Management LLC’s holdings in Charles River Laboratories International were worth $1,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRL. Hilton Capital Management LLC boosted its stake in Charles River Laboratories International by 17.4% in the 3rd quarter. Hilton Capital Management LLC now owns 7,658 shares of the medical research company’s stock valued at $1,508,000 after purchasing an additional 1,135 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Charles River Laboratories International in the third quarter valued at about $168,000. Premier Fund Managers Ltd grew its stake in shares of Charles River Laboratories International by 56.3% in the third quarter. Premier Fund Managers Ltd now owns 250,000 shares of the medical research company’s stock valued at $49,573,000 after acquiring an additional 90,000 shares in the last quarter. Swiss National Bank increased its position in Charles River Laboratories International by 0.5% during the third quarter. Swiss National Bank now owns 152,800 shares of the medical research company’s stock worth $30,097,000 after acquiring an additional 700 shares during the period. Finally, Mizuho Securities USA LLC raised its stake in Charles River Laboratories International by 2,336.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 96,871 shares of the medical research company’s stock worth $19,081,000 after purchasing an additional 92,895 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRL has been the topic of a number of analyst reports. Evercore ISI increased 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 research note on Thursday, November 7th. The Goldman Sachs Group decreased their price objective 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. CLSA downgraded shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price objective for the company. in a research report on Monday. Citigroup downgraded Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their target price for the company from $215.00 to $175.00 in a report on Tuesday, October 1st. Finally, Barclays lowered their price target on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles River Laboratories International has an average rating of “Hold” and a consensus price target of $214.38.

Charles River Laboratories International Price Performance

Shares of NYSE:CRL opened at $187.90 on Thursday. The company has a 50-day moving average price of $195.05 and a two-hundred day moving average price of $206.43. Charles River Laboratories International, Inc. has a twelve month low of $176.48 and a twelve 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. The firm has a market capitalization of $9.61 billion, a PE ratio of 23.52, a P/E/G ratio of 4.80 and a beta of 1.38.

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, topping the consensus estimate of $2.43 by $0.16. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.72 earnings per share. Equities analysts forecast that Charles River Laboratories International, Inc. will post 10.19 EPS for the current year.

Charles River Laboratories International declared that its board has authorized a stock buyback program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase 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.

Insider Activity

In related news, Director Richard F. Wallman sold 6,621 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 12,386 shares in the company, valued at $2,676,862.32. The trade was a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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).