Insider Selling: Charles River Laboratories International, Inc. (NYSE:CRL) Director Sells $1,430,930.52 in Stock

Charles River Laboratories International, Inc. (NYSE:CRL) Director Richard F. Wallman sold 6,621 shares of Charles River Laboratories International stock in a transaction on 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 completion of the transaction, the director now owns 12,386 shares of the company’s stock, 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 can be accessed through this link.

Charles River Laboratories International Stock Performance

Charles River Laboratories International stock opened at $196.97 on Friday. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 5.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. 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 50 day simple moving average of $195.26 and a 200-day simple moving average of $207.82.

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. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.72 EPS. On average, analysts expect that Charles River Laboratories International, Inc. will post 10.18 EPS for the current year.

Charles River Laboratories International announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Charles River Laboratories International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tortoise Investment Management LLC boosted its holdings in shares of 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 buying an additional 57 shares in the last quarter. Wolff Wiese Magana LLC acquired a new stake in shares of Charles River Laboratories International during the third quarter worth about $32,000. Assetmark Inc. raised 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 during the last quarter. Headlands Technologies LLC purchased a new position in Charles River Laboratories International during the first quarter worth about $41,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Charles River Laboratories International by 219.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after acquiring an additional 193 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRL. JPMorgan Chase & Co. lowered 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 note on Thursday, August 8th. Evercore ISI boosted their price objective on Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Robert W. Baird reduced their price objective on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Barclays decreased their price objective 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 note on Thursday, August 8th. Finally, The Goldman Sachs Group cut 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. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $217.54.

Charles River Laboratories International Company 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).