Premier Fund Managers Ltd Raises Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Premier Fund Managers Ltd boosted its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 56.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 250,000 shares of the medical research company’s stock after purchasing an additional 90,000 shares during the period. Charles River Laboratories International comprises 1.8% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 28th largest position. Premier Fund Managers Ltd owned 0.48% of Charles River Laboratories International worth $49,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Charles River Laboratories International by 40.7% in the third 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 during the period. Epoch Investment Partners Inc. increased its position in shares of Charles River Laboratories International by 2,733.4% in the first quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock valued at $67,060,000 after acquiring an additional 238,766 shares during the period. Marshall Wace LLP increased its position in shares of Charles River Laboratories International by 24.6% in the second quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock valued at $170,615,000 after acquiring an additional 163,056 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Charles River Laboratories International during the second quarter valued at about $33,053,000. Finally, Earnest Partners LLC boosted its holdings in shares of Charles River Laboratories International by 12.4% during the second quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock worth $207,507,000 after purchasing an additional 110,725 shares during the period. Institutional investors own 98.91% of the company’s stock.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Charles River Laboratories International Price Performance

CRL opened at $186.06 on Wednesday. The firm has a market cap of $9.52 billion, a PE ratio of 23.29, a P/E/G ratio of 4.84 and a beta of 1.38. The stock has a 50-day moving average price of $195.16 and a 200-day moving average price of $206.56. 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 issued its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.72 earnings per share. Sell-side 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 initiated a stock buyback program 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 buy up to 9.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays lowered their price target on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $270.00 to $205.00 in a report on Thursday, August 8th. CLSA cut 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. UBS Group upped 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, Baird R W lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $214.38.

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).