Truvestments Capital LLC Raises Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Truvestments Capital LLC lifted its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 17.0% during the 3rd quarter, Holdings Channel reports. The fund owned 2,407 shares of the medical research company’s stock after buying an additional 350 shares during the quarter. Truvestments Capital LLC’s holdings in Charles River Laboratories International were worth $474,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in Charles River Laboratories International by 1.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock worth $394,359,000 after purchasing an additional 31,359 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Charles River Laboratories International by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock valued at $346,821,000 after buying an additional 509,163 shares during the period. Earnest Partners LLC increased its holdings in shares of Charles River Laboratories International by 12.4% during the 2nd quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock worth $207,507,000 after buying an additional 110,725 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Charles River Laboratories International by 24.6% during the 2nd quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock worth $170,615,000 after buying an additional 163,056 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Charles River Laboratories International by 8.6% during the 2nd quarter. Sei Investments Co. now owns 624,800 shares of the medical research company’s stock valued at $129,072,000 after buying an additional 49,451 shares during the period. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 owns 12,386 shares in the company, valued at $2,676,862.32. This represents a 34.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CRL shares. JPMorgan Chase & Co. cut Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $270.00 to $205.00 in a research note on Thursday, August 8th. Robert W. Baird cut their price objective on 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. CLSA cut shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a research report on Monday, November 18th. Barclays lowered their target price on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com downgraded shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $214.38.

Charles River Laboratories International Trading Up 2.8 %

NYSE CRL opened at $201.16 on Tuesday. Charles River Laboratories International, Inc. has a 52 week low of $176.48 and a 52 week high of $275.00. The firm has a 50 day moving average of $194.94 and a two-hundred day moving average of $205.44. 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 stock has a market capitalization of $10.29 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 5.05 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $975.99 million. During the same quarter in the prior year, the business posted $2.72 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts expect that Charles River Laboratories International, Inc. will post 10.19 EPS for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has authorized a stock repurchase plan 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 purchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management 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).