The Manufacturers Life Insurance Company Trims Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

The Manufacturers Life Insurance Company trimmed its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 42.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 137,265 shares of the medical research company’s stock after selling 102,648 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Charles River Laboratories International were worth $27,037,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CRL. Tidal Investments LLC raised its stake in Charles River Laboratories International by 99.8% in the first quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company’s stock worth $1,435,000 after buying an additional 2,646 shares in the last quarter. Comerica Bank grew its holdings in shares of Charles River Laboratories International by 5.6% during the 1st quarter. Comerica Bank now owns 17,514 shares of the medical research company’s stock worth $4,745,000 after acquiring an additional 927 shares during the period. Atria Investments Inc raised its position in shares of Charles River Laboratories International by 19.6% in the 1st quarter. Atria Investments Inc now owns 17,502 shares of the medical research company’s stock worth $4,742,000 after acquiring an additional 2,873 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Charles River Laboratories International by 223.4% in the 1st quarter. Cetera Investment Advisers now owns 9,740 shares of the medical research company’s stock valued at $2,639,000 after purchasing an additional 6,728 shares during the period. Finally, Cetera Advisors LLC boosted its position in shares of Charles River Laboratories International by 197.1% during the first quarter. Cetera Advisors LLC now owns 3,357 shares of the medical research company’s stock valued at $910,000 after purchasing an additional 2,227 shares in the last quarter. Institutional investors own 98.91% of the company’s stock.

Insider Transactions 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 that occurred on 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRL. Robert W. Baird decreased their price objective on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, September 20th. JPMorgan Chase & Co. cut shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. 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. Barclays lowered 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 report on Thursday, August 8th. 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 analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $214.38.

Charles River Laboratories International Stock Down 0.2 %

Shares of Charles River Laboratories International stock opened at $199.23 on Friday. 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 twelve month low of $176.48 and a twelve month high of $275.00. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 5.15 and a beta of 1.38. The company’s 50 day moving average is $194.45 and its 200 day moving average is $205.15.

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 return on equity of 14.29% and a net margin of 10.44%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. During the same quarter in the previous year, the company posted $2.72 earnings per share. Charles River Laboratories International’s revenue was down 1.6% compared to the same quarter last year. Research analysts anticipate that Charles River Laboratories International, Inc. will post 10.19 EPS for the current year.

Charles River Laboratories International announced that its board has approved a stock repurchase program 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 programs are often a sign that the company’s board of directors 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).