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 (SEC). The firm bought 2,264 shares of the medical research company’s stock, valued at approximately $446,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Charles River Laboratories International by 40.7% during 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 buying an additional 509,163 shares during the period. Marshall Wace LLP boosted its position in Charles River Laboratories International by 24.6% during the 2nd quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock worth $170,615,000 after acquiring an additional 163,056 shares during the period. 1832 Asset Management L.P. acquired a new position in Charles River Laboratories International during the 2nd quarter worth $33,053,000. Earnest Partners LLC grew its stake in shares of 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 purchasing an additional 110,725 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Charles River Laboratories International by 73.6% during the second quarter. The Manufacturers Life Insurance Company now owns 239,913 shares of the medical research company’s stock valued at $49,561,000 after purchasing an additional 101,732 shares during the period. 98.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Richard F. Wallman sold 6,621 shares of the 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 sale, the director now directly owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $215.00 in a report on Wednesday, October 2nd. Barclays lowered their price objective 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. Baird R W downgraded Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. StockNews.com lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, UBS Group boosted their price objective on Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $214.38.

Charles River Laboratories International Price Performance

NYSE CRL opened at $199.59 on Friday. Charles River Laboratories International, Inc. has a 1 year low of $176.48 and a 1 year high of $275.00. The stock’s 50-day moving average price is $194.64 and its two-hundred day moving average price is $205.19. The company has a market cap of $10.21 billion, a PE ratio of 24.98, a PEG ratio of 5.19 and a beta of 1.38. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, beating 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 business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. During the same quarter in the prior year, the firm earned $2.72 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Charles River Laboratories International, Inc. will post 10.19 EPS for the current year.

Charles River Laboratories International announced that its board 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

About 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).