Primecap Management Co. CA Lowers Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Primecap Management Co. CA decreased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 0.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 273,620 shares of the medical research company’s stock after selling 110 shares during the period. Primecap Management Co. CA owned about 0.53% of Charles River Laboratories International worth $53,895,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CRL. Tortoise Investment Management LLC boosted its holdings in Charles River Laboratories International by 77.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after acquiring an additional 57 shares during the last quarter. Wolff Wiese Magana LLC purchased a new position in Charles River Laboratories International during the third quarter worth about $32,000. Assetmark Inc. grew its position in Charles River Laboratories International by 1,153.3% in the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after purchasing an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after buying an additional 193 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Charles River Laboratories International by 40.9% during the 3rd quarter. Covestor Ltd now owns 327 shares of the medical research company’s stock worth $65,000 after buying an additional 95 shares in the last quarter. Institutional investors own 98.91% of the company’s stock.

Insider Activity

In related news, Director Richard F. Wallman sold 6,621 shares of the 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 sale, the director now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Charles River Laboratories International Trading Up 3.4 %

NYSE:CRL opened at $194.37 on Friday. Charles River Laboratories International, Inc. has a 1 year low of $176.48 and a 1 year high of $275.00. The stock’s fifty day moving average price is $195.05 and its two-hundred day moving average price is $206.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. The company has a market cap of $9.94 billion, a P/E ratio of 24.33, a P/E/G ratio of 4.80 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.72 EPS. As a group, analysts expect that Charles River Laboratories International, Inc. will post 10.19 EPS for the current year.

Charles River Laboratories International announced that its board has authorized a stock repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 9.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CRL has been the subject of a number of research analyst reports. Barclays decreased 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. TD Cowen lifted their target price 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. UBS Group increased 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 research report on Thursday, November 7th. Baird R W lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird reduced 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 report on Friday, September 20th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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).