Insider Selling: Charles River Laboratories International, Inc. (NYSE:CRL) Director Sells 6,621 Shares of Stock

Charles River Laboratories International, Inc. (NYSE:CRL) Director Richard F. Wallman sold 6,621 shares of the firm’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 transaction, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Charles River Laboratories International Stock Down 2.2 %

CRL stock opened at $215.84 on Wednesday. The firm’s fifty day moving average is $194.85 and its 200 day moving average is $207.91. The firm has a market cap of $11.04 billion, a PE ratio of 27.01, a P/E/G ratio of 5.80 and a beta of 1.38. Charles River Laboratories International, Inc. has a one year low of $168.24 and a one year high of $275.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.21 and a current ratio of 1.48.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.16. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $2.72 EPS. On average, research analysts forecast that Charles River Laboratories International, Inc. will post 10.2 EPS for the current year.

Charles River Laboratories International declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CRL. Oregon Public Employees Retirement Fund increased its holdings 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 worth $914,000 after acquiring an additional 45 shares in the last quarter. Empirical Finance LLC increased 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 worth $258,000 after purchasing an additional 53 shares in the last quarter. American Trust raised its position in shares of Charles River Laboratories International by 5.9% during the 2nd quarter. American Trust now owns 976 shares of the medical research company’s stock worth $202,000 after purchasing an additional 54 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in 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 valued at $27,000 after buying an additional 57 shares in the last quarter. Finally, OLD National Bancorp IN lifted its stake in Charles River Laboratories International by 3.1% in the 3rd quarter. OLD National Bancorp IN now owns 1,988 shares of the medical research company’s stock valued at $392,000 after buying an additional 59 shares in the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Redburn Atlantic started coverage on Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 target price on the stock. CLSA upgraded shares of Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 price objective for the company in a research note on Thursday, November 7th. Robert W. Baird lowered 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 note 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. Finally, Evercore ISI increased their price objective on Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $217.54.

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).