King Luther Capital Management Corp Sells 252,657 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

King Luther Capital Management Corp trimmed its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 79.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,689 shares of the medical research company’s stock after selling 252,657 shares during the period. King Luther Capital Management Corp owned approximately 0.13% of Charles River Laboratories International worth $12,939,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CRL. O Shaughnessy Asset Management LLC acquired a new position in shares of Charles River Laboratories International during the first quarter worth approximately $415,000. Bessemer Group Inc. boosted its holdings in shares of Charles River Laboratories International by 456.6% in the 1st quarter. Bessemer Group Inc. now owns 8,649 shares of the medical research company’s stock worth $2,343,000 after buying an additional 7,095 shares during the last quarter. Natixis bought a new position in Charles River Laboratories International during the first quarter valued at about $1,058,000. CreativeOne Wealth LLC purchased a new stake in Charles River Laboratories International during the first quarter worth about $201,000. Finally, Axxcess Wealth Management LLC raised its position in Charles River Laboratories International by 54.8% in the first quarter. Axxcess Wealth Management LLC now owns 2,094 shares of the medical research company’s stock worth $567,000 after acquiring an additional 741 shares during the period. Institutional investors own 98.91% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 6,621 shares of the 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 completion of the sale, the director now owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Charles River Laboratories International Trading Up 3.4 %

CRL stock opened at $194.37 on Friday. Charles River Laboratories International, Inc. has a one year low of $176.48 and a one year high of $275.00. The company has a market capitalization of $9.94 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 4.80 and a beta of 1.38. The company’s 50 day moving average price is $195.05 and its two-hundred day moving average price is $206.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results 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. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. During the same period in the previous year, the firm posted $2.72 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts predict that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to buy up to 9.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership 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).