King Luther Capital Management Corp Cuts Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

King Luther Capital Management Corp lowered its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 79.4% in the 3rd quarter, Holdings Channel reports. The firm owned 65,689 shares of the medical research company’s stock after selling 252,657 shares during the period. King Luther Capital Management Corp’s holdings in Charles River Laboratories International were worth $12,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRL. Tortoise Investment Management LLC lifted its stake 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 valued at $27,000 after acquiring an additional 57 shares during the period. Wolff Wiese Magana LLC purchased a new position in shares of Charles River Laboratories International during the third quarter valued at approximately $32,000. Assetmark Inc. lifted its position in 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 valued at $37,000 after purchasing an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Charles River Laboratories International by 219.3% in the second 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. Finally, Covestor Ltd grew its position in Charles River Laboratories International by 40.9% in the 3rd quarter. Covestor Ltd now owns 327 shares of the medical research company’s stock worth $65,000 after purchasing an additional 95 shares during the period. 98.91% of the stock is owned by institutional investors.

Charles River Laboratories International Price Performance

Shares of Charles River Laboratories International stock opened at $194.37 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 52 week low of $176.48 and a 52 week high of $275.00. The stock’s 50-day simple moving average is $195.05 and its 200-day simple moving average is $206.34. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 4.80 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results 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 business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.72 EPS. As a group, analysts expect that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors has initiated a share 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 usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. The Goldman Sachs Group cut their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Citigroup cut shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $215.00 to $175.00 in a research note on Tuesday, October 1st. TD Cowen boosted their target price on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Baird R W cut shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $214.38.

Insider Activity at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of Charles River Laboratories International stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

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).