Victory Capital Management Inc. Sells 117,418 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Victory Capital Management Inc. decreased its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 25.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 348,276 shares of the medical research company’s stock after selling 117,418 shares during the quarter. Victory Capital Management Inc. owned 0.67% of Charles River Laboratories International worth $68,600,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. grew its stake in Charles River Laboratories International by 3.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,995 shares of the medical research company’s stock worth $22,060,000 after buying an additional 3,714 shares during the last quarter. Baillie Gifford & Co. grew its position in Charles River Laboratories International by 1.6% during the 3rd quarter. Baillie Gifford & Co. now owns 68,585 shares of the medical research company’s stock worth $13,509,000 after acquiring an additional 1,048 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in Charles River Laboratories International during the 3rd quarter valued at $201,000. WCM Investment Management LLC raised its position in Charles River Laboratories International by 33.3% in the 3rd quarter. WCM Investment Management LLC now owns 10,367 shares of the medical research company’s stock valued at $2,056,000 after purchasing an additional 2,589 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Charles River Laboratories International by 61.3% in the third quarter. Venturi Wealth Management LLC now owns 1,616 shares of the medical research company’s stock worth $318,000 after purchasing an additional 614 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CRL shares. JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $270.00 to $205.00 in a research note on Thursday, August 8th. Barclays reduced 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 report on Thursday, August 8th. StockNews.com lowered shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. CLSA raised Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 price objective on the stock in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lowered their target price on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $217.54.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 6,621 shares of the firm’s 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 sale, the director now owns 12,386 shares of the company’s stock, valued at $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $196.97 on Friday. The stock has a market cap of $10.07 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 5.57 and a beta of 1.38. The stock has a 50-day moving average of $195.26 and a 200-day moving average of $207.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. Charles River Laboratories International, Inc. has a one year low of $176.48 and a one year high of $275.00.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping 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 company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. During the same period last year, the business posted $2.72 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current year.

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

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).