PDT Partners LLC lowered its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 27.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,263 shares of the medical research company's stock after selling 3,500 shares during the quarter. PDT Partners LLC's holdings in Charles River Laboratories International were worth $1,825,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Tortoise Investment Management LLC lifted its position 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 worth $27,000 after purchasing an additional 57 shares during the period. Wolff Wiese Magana LLC bought a new stake in Charles River Laboratories International during the 3rd quarter valued at approximately $32,000. Assetmark Inc. grew its holdings in shares of Charles River Laboratories International by 1,153.3% during the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company's stock worth $37,000 after acquiring an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Charles River Laboratories International by 219.3% in the 2nd 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 in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Charles River Laboratories International by 40.9% during the 3rd quarter. Covestor Ltd now owns 327 shares of the medical research company's stock valued at $65,000 after buying an additional 95 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors.
Shares of CRL opened at $199.06 on Friday. Charles River Laboratories International, Inc. has a 12-month low of $176.48 and a 12-month high of $275.00. 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 capitalization of $10.18 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 5.15 and a beta of 1.38. The business's 50 day moving average is $194.32 and its 200 day moving average is $204.95.
Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.16. The firm had revenue of $1.01 billion during 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%. Charles River Laboratories International's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.72 earnings per share. Research analysts expect that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current fiscal year.
Charles River Laboratories International declared that its Board of Directors has approved a share buyback plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.
In related news, Director Richard F. Wallman sold 6,621 shares of the business's 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 sale, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. The trade was a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on CRL shares. Citigroup cut Charles River Laboratories International from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $215.00 to $175.00 in a research note on Tuesday, October 1st. StockNews.com downgraded Charles River Laboratories International from a "buy" rating to a "hold" 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 on the stock in a research note on Thursday, August 8th. Robert W. Baird cut their target price on shares of 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. Finally, Redburn Atlantic began coverage on Charles River Laboratories International in a report on Monday, October 14th. They issued a "sell" rating and a $151.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $214.38.
Read Our Latest Report on Charles River Laboratories International
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).
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