Citigroup Inc. Purchases 22,788 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Citigroup Inc. lifted its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 10.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 236,141 shares of the medical research company’s stock after acquiring an additional 22,788 shares during the period. Citigroup Inc.’s holdings in Charles River Laboratories International were worth $46,513,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in shares of 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 raised its position in shares of Charles River Laboratories International by 4.2% in the 3rd quarter. Empirical Finance LLC now owns 1,310 shares of the medical research company’s stock worth $258,000 after acquiring an additional 53 shares in the last quarter. American Trust raised its position in shares of Charles River Laboratories International by 5.9% in the 2nd quarter. American Trust now owns 976 shares of the medical research company’s stock worth $202,000 after acquiring an additional 54 shares in the last quarter. Tortoise Investment Management LLC raised 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 acquiring an additional 57 shares in the last quarter. Finally, OLD National Bancorp IN increased 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 buying an additional 59 shares in the last quarter. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Up 0.8 %

Shares of NYSE:CRL opened at $195.77 on Monday. Charles River Laboratories International, Inc. has a 1 year low of $176.48 and a 1 year high of $275.00. The business has a 50 day simple moving average of $194.99 and a two-hundred day simple moving average of $205.65. The firm has a market capitalization of $10.01 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 5.01 and a beta of 1.38. 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 (NYSE:CRL) last announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.72 earnings per share. On average, equities 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 of Directors has initiated a share repurchase plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CRL shares. The Goldman Sachs Group reduced their price objective on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Robert W. Baird cut their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. CLSA downgraded Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a research note on Monday, November 18th. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their target price for the company from $270.00 to $205.00 in a research note on Thursday, August 8th. Finally, Baird R W downgraded Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $214.38.

Insider Activity at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of the business’s stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

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).