Advisors Asset Management Inc. Sells 167 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Advisors Asset Management Inc. decreased its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,426 shares of the medical research company’s stock after selling 167 shares during the period. Advisors Asset Management Inc.’s holdings in Charles River Laboratories International were worth $675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRL. Tortoise Investment Management LLC lifted its stake in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 57 shares during the last quarter. Wolff Wiese Magana LLC purchased a new stake in Charles River Laboratories International during the 3rd quarter valued at $32,000. Assetmark Inc. raised its holdings in Charles River Laboratories International by 1,153.3% during the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after buying an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Charles River Laboratories International by 219.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after buying an additional 193 shares during the period. Finally, Covestor Ltd increased its position in Charles River Laboratories International by 40.9% during the third quarter. Covestor Ltd now owns 327 shares of the medical research company’s stock valued at $65,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Price Performance

NYSE CRL opened at $197.75 on Wednesday. The company has a market cap of $10.11 billion, a PE ratio of 24.75, a P/E/G ratio of 5.05 and a beta of 1.38. Charles River Laboratories International, Inc. has a 52-week low of $176.48 and a 52-week high of $275.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. The firm’s 50 day moving average price is $194.94 and its 200-day moving average price is $205.44.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (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 period last year, the business posted $2.72 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts forecast 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 initiated a share repurchase program on Wednesday, August 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

CRL has been the subject of several analyst reports. UBS Group raised their target price on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. TD Cowen boosted their target price on Charles River Laboratories International from $203.00 to $227.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Redburn Atlantic began coverage on Charles River Laboratories International in a report on Monday, October 14th. They issued a “sell” rating and a $151.00 price target on the stock. The Goldman Sachs Group dropped their price objective 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. Finally, Bank of America lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $215.00 in a research note on Wednesday, October 2nd. Three investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $214.38.

Insider Activity at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Charles River Laboratories International Company 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).