Blueshift Asset Management LLC Acquires New Shares in Charles River Laboratories International, Inc. (NYSE:CRL)

Blueshift Asset Management LLC bought a new position in Charles River Laboratories International, Inc. (NYSE:CRL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,264 shares of the medical research company’s stock, valued at approximately $446,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Charles River Laboratories International by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock valued at $346,821,000 after buying an additional 509,163 shares in the last quarter. Marshall Wace LLP lifted its stake in 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 valued at $170,615,000 after acquiring an additional 163,056 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Charles River Laboratories International in the second quarter valued at approximately $33,053,000. Earnest Partners LLC grew its position in Charles River Laboratories International by 12.4% in the second quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock worth $207,507,000 after acquiring an additional 110,725 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of 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 worth $49,561,000 after purchasing an additional 101,732 shares during the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction that occurred 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 owns 12,386 shares in the company, valued at $2,676,862.32. This trade represents a 34.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Charles River Laboratories International Stock Up 0.9 %

CRL stock opened at $199.59 on Friday. The business’s 50-day simple moving average is $194.64 and its 200 day simple moving average is $205.19. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. The company has a market cap of $10.21 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 5.19 and a beta of 1.38. Charles River Laboratories International, Inc. has a twelve month low of $176.48 and a twelve month high of $275.00.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. During the same period in the previous year, the business posted $2.72 earnings per share. Charles River Laboratories International’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts anticipate that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current year.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Baird R W lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Evercore ISI boosted their price target on Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. CLSA lowered Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price objective on the stock. in a report on Monday, November 18th. JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $270.00 to $205.00 in a report on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $214.38.

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).