Horizon Kinetics Asset Management LLC Sells 45,619 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Horizon Kinetics Asset Management LLC trimmed its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 28.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,762 shares of the medical research company’s stock after selling 45,619 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Charles River Laboratories International were worth $22,605,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its position in Charles River Laboratories International by 1.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,424 shares of the medical research company’s stock valued at $914,000 after buying an additional 45 shares during the period. Empirical Finance LLC raised its stake in shares of Charles River Laboratories International by 4.2% during the third quarter. Empirical Finance LLC now owns 1,310 shares of the medical research company’s stock valued at $258,000 after acquiring an additional 53 shares in the last quarter. American Trust boosted its holdings in shares of Charles River Laboratories International by 5.9% in the second quarter. American Trust now owns 976 shares of the medical research company’s stock valued at $202,000 after purchasing an additional 54 shares during the period. Tortoise Investment Management LLC grew its stake in Charles River Laboratories International by 77.0% in the second 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 in the last quarter. Finally, OLD National Bancorp IN raised its position in Charles River Laboratories International by 3.1% during the 3rd quarter. OLD National Bancorp IN now owns 1,988 shares of the medical research company’s stock valued at $392,000 after purchasing an additional 59 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Trading Up 0.8 %

Charles River Laboratories International stock opened at $195.77 on Monday. Charles River Laboratories International, Inc. has a one year low of $176.48 and a one year high of $275.00. The stock has a market cap of $10.01 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 5.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. The stock has a 50-day moving average of $194.99 and a two-hundred day moving average of $205.65.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $975.99 million. During the same period last year, the business earned $2.72 EPS. Charles River Laboratories International’s revenue for the quarter 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 EPS for the current fiscal year.

Charles River Laboratories International announced that its board has approved a share buyback program on Wednesday, August 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to buy up to 9.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Charles River Laboratories International 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 transaction of $1,430,930.52. Following the completion of the sale, the director now owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. The trade was a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CRL shares. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. 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 on the stock in a research report on Friday, September 20th. TD Cowen upped their price target on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Bank of America lowered shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $215.00 in a report on Wednesday, October 2nd. Finally, Barclays lowered their target price on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $214.38.

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).