BNP Paribas Financial Markets Sells 48,659 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

BNP Paribas Financial Markets cut its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 38.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,171 shares of the medical research company’s stock after selling 48,659 shares during the quarter. BNP Paribas Financial Markets owned 0.15% of Charles River Laboratories International worth $15,594,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Charles River Laboratories International by 40.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock worth $346,821,000 after purchasing an additional 509,163 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Charles River Laboratories International by 24.6% in the second quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock worth $170,615,000 after buying an additional 163,056 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Charles River Laboratories International in the 2nd quarter valued at about $33,053,000. Earnest Partners LLC lifted its stake in shares of Charles River Laboratories International by 12.4% in the 2nd quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after acquiring an additional 110,725 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Charles River Laboratories International by 73.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 239,913 shares of the medical research company’s stock valued at $49,561,000 after acquiring an additional 101,732 shares during the period. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Price Performance

CRL opened at $199.06 on Friday. 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 company has a market cap of $10.18 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 5.15 and a beta of 1.38. The stock has a fifty day simple moving average of $194.32 and a two-hundred day simple moving average of $204.95. Charles River Laboratories International, Inc. has a 12-month low of $176.48 and a 12-month high of $275.00.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. During the same period last year, the business earned $2.72 EPS. Charles River Laboratories International’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts predict 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 has authorized a share repurchase plan on Wednesday, August 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRL shares. Robert W. Baird lowered their price objective on 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. StockNews.com lowered shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Evercore ISI raised their price target on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. TD Cowen upped their price objective on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Barclays cut their target price on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $214.38.

Insider Activity

In other news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction on 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 34.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

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).