FORA Capital LLC Sells 2,961 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

FORA Capital LLC lessened its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 32.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,026 shares of the medical research company’s stock after selling 2,961 shares during the period. FORA Capital LLC’s holdings in Charles River Laboratories International were worth $1,187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Charles River Laboratories International during the 3rd quarter valued at about $2,915,000. Blueshift Asset Management LLC bought a new stake in shares of Charles River Laboratories International during the 3rd quarter valued at about $446,000. Glenmede Trust Co. NA boosted its position in shares of Charles River Laboratories International by 9.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,210 shares of the medical research company’s stock valued at $238,000 after purchasing an additional 105 shares in the last quarter. M.D. Sass LLC boosted its position in shares of Charles River Laboratories International by 4.0% during the 3rd quarter. M.D. Sass LLC now owns 321,172 shares of the medical research company’s stock valued at $63,261,000 after purchasing an additional 12,227 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Charles River Laboratories International during the 3rd quarter valued at about $1,609,000. Institutional investors own 98.91% of the company’s stock.

Insider Buying and Selling

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 12,386 shares in the company, valued at $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 SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Charles River Laboratories International Price Performance

Shares of NYSE CRL opened at $199.45 on Thursday. The stock has a fifty day simple moving average of $194.77 and a two-hundred day simple moving average of $205.23. 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 $10.20 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 5.19 and a beta of 1.38. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. During the same period last year, the company earned $2.72 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts anticipate that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current year.

Charles River Laboratories International announced that its board has authorized a share buyback 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 a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRL. Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $215.00 in a research note on Wednesday, October 2nd. The Goldman Sachs Group dropped their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Barclays dropped their price target on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. CLSA downgraded Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price target on the stock. in a research note on Monday, November 18th. Finally, TD Cowen upped their price target on Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $214.38.

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).