Charles River Laboratories International, Inc. (NYSE:CRL) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,556 shares of the medical research company’s stock after selling 989 shares during the period. Oppenheimer Asset Management Inc. owned about 0.09% of Charles River Laboratories International worth $9,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CRL. Tortoise Investment Management LLC grew its stake in 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 valued at $27,000 after acquiring an additional 57 shares during the period. Wolff Wiese Magana LLC acquired a new stake in shares of Charles River Laboratories International in the third quarter valued at about $32,000. Assetmark Inc. increased its stake in shares of Charles River Laboratories International by 1,153.3% during the third 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. Headlands Technologies LLC purchased a new stake in shares of Charles River Laboratories International during the first quarter worth about $41,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Charles River Laboratories International by 219.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after purchasing an additional 193 shares during the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Charles River Laboratories International

In related 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 completion of the transaction, the director now directly owns 12,386 shares in the company, valued at $2,676,862.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CRL shares. Redburn Atlantic initiated coverage on Charles River Laboratories International in a research note on Monday, October 14th. They set a “sell” rating and a $151.00 price objective for the company. JPMorgan Chase & Co. cut Charles River Laboratories International from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $250.00 to $215.00 in a research note on Wednesday, October 2nd. Evercore ISI lifted their target price on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Barclays reduced their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $217.54.

Charles River Laboratories International Stock Down 4.4 %

Shares of CRL opened at $206.54 on Thursday. The company’s 50-day moving average price is $195.14 and its 200 day moving average price is $207.90. Charles River Laboratories International, Inc. has a 12-month low of $174.92 and a 12-month high of $275.00. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.56 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 5.57 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 EPS 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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. During the same period in the prior year, the business posted $2.72 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current year.

Charles River Laboratories International declared that its board has initiated a share buyback plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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).