Raymond James Trust N.A. Makes New $211,000 Investment in Charles River Laboratories International, Inc. (NYSE:CRL)

Raymond James Trust N.A. purchased a new stake in Charles River Laboratories International, Inc. (NYSE:CRL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,072 shares of the medical research company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Charles River Laboratories International by 40.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock worth $346,821,000 after buying an additional 509,163 shares in the last quarter. Marshall Wace LLP grew its holdings in 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 valued at $170,615,000 after buying an additional 163,056 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Charles River Laboratories International during the second quarter worth about $33,053,000. Earnest Partners LLC raised its stake in Charles River Laboratories International by 12.4% in the second quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after purchasing an additional 110,725 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Charles River Laboratories International by 73.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 239,913 shares of the medical research company’s stock valued at $49,561,000 after buying an additional 101,732 shares in the last quarter. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Trading Up 0.9 %

CRL stock opened at $199.59 on Friday. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 5.19 and a beta of 1.38. The business has a 50 day simple moving average of $194.64 and a two-hundred day simple moving average of $205.19. Charles River Laboratories International, Inc. has a 1-year low of $176.48 and a 1-year high of $275.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14.

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 the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. Charles River Laboratories International’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.72 earnings per share. Research analysts anticipate 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 approved a stock repurchase plan on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRL. Citigroup lowered Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $215.00 to $175.00 in a research report on Tuesday, October 1st. Robert W. Baird decreased their price objective on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Redburn Atlantic initiated coverage on Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 price target on the stock. UBS Group boosted their price objective 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. Finally, CLSA downgraded shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price target on the stock. in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $214.38.

Insider Activity

In other 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 in the company, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

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).