Charles River Laboratories International, Inc. (NYSE:CRL) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 251,256 shares of the medical research company’s stock after selling 14,003 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.49% of Charles River Laboratories International worth $49,490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Boston Trust Walden Corp raised its position in shares of Charles River Laboratories International by 2.8% during the second quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company’s stock worth $41,381,000 after purchasing an additional 5,375 shares during the period. Quest Partners LLC boosted its holdings in Charles River Laboratories International by 135,175.0% in the second quarter. Quest Partners LLC now owns 5,411 shares of the medical research company’s stock worth $1,118,000 after purchasing an additional 5,407 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Charles River Laboratories International by 3.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,995 shares of the medical research company’s stock valued at $22,060,000 after acquiring an additional 3,714 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Charles River Laboratories International by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 515,222 shares of the medical research company’s stock worth $101,483,000 after buying an additional 32,311 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Charles River Laboratories International by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock valued at $346,821,000 after buying an additional 509,163 shares during the last quarter. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Down 1.0 %

Shares of CRL stock opened at $199.23 on Wednesday. The firm has a fifty day moving average of $194.26 and a 200-day moving average of $204.39. The company has a market capitalization of $10.19 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 5.19 and a beta of 1.38. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. Charles River Laboratories International, Inc. has a 12-month low of $176.48 and a 12-month high of $275.00.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $975.99 million. During the same period last year, the business earned $2.72 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts predict that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to buy up to 9.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Charles River Laboratories International

In other 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 value of $1,430,930.52. Following the sale, the director now directly owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

CRL has been the subject of several research reports. CLSA cut Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price for the company. in a research report on Monday, November 18th. Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $215.00 in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. Evercore ISI lifted their price target on Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Robert W. Baird dropped their target price on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Three 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. Based on data from MarketBeat.com, Charles River Laboratories International has a consensus rating of “Hold” and an average target price 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).