Charles River Laboratories International, Inc. (NYSE:CRL) Stock Holdings Trimmed by KBC Group NV

KBC Group NV lowered its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 37.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,566 shares of the medical research company’s stock after selling 50,319 shares during the quarter. KBC Group NV’s holdings in Charles River Laboratories International were worth $16,657,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Tortoise Investment Management LLC lifted its position 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 worth $27,000 after buying an additional 57 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Charles River Laboratories International during the first quarter worth about $41,000. Wolff Wiese Magana LLC bought a new position in Charles River Laboratories International in the third quarter worth about $32,000. Assetmark Inc. boosted its stake in Charles River Laboratories International by 1,153.3% in the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 173 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of 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 valued at $58,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Performance

Shares of NYSE CRL opened at $187.74 on Friday. Charles River Laboratories International, Inc. has a 1 year low of $176.48 and a 1 year high of $275.00. The firm has a market cap of $9.60 billion, a P/E ratio of 23.50, a PEG ratio of 5.33 and a beta of 1.38. The stock has a fifty day moving average price of $195.26 and a two-hundred day moving average price of $207.52. 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 announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $975.99 million. During the same quarter last year, the business posted $2.72 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts forecast that Charles River Laboratories International, Inc. will post 10.19 EPS for the current fiscal year.

Charles River Laboratories International announced that its board has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CRL has been the topic of several recent research reports. Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their price target for the stock from $250.00 to $215.00 in a report on Wednesday, October 2nd. UBS Group boosted their price target on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays dropped their price objective on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They issued a “sell” rating and a $151.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Charles River Laboratories International currently has a consensus rating of “Hold” and a consensus price target of $217.54.

Insider Activity

In related 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 value of $1,430,930.52. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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).