Dai ichi Life Insurance Company Ltd Decreases Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Dai ichi Life Insurance Company Ltd lessened its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 29.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,430 shares of the medical research company’s stock after selling 1,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Charles River Laboratories International were worth $479,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boston Trust Walden Corp grew its holdings in Charles River Laboratories International by 2.8% in the second quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company’s stock valued at $41,381,000 after purchasing an additional 5,375 shares during the last quarter. Tidal Investments LLC grew its stake in Charles River Laboratories International by 99.8% in the 1st quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company’s stock valued at $1,435,000 after acquiring an additional 2,646 shares during the last quarter. Quest Partners LLC increased its holdings in Charles River Laboratories International by 135,175.0% during the 2nd quarter. Quest Partners LLC now owns 5,411 shares of the medical research company’s stock valued at $1,118,000 after acquiring an additional 5,407 shares in the last quarter. New England Research & Management Inc. acquired a new position in Charles River Laboratories International during the second quarter worth about $506,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Charles River Laboratories International by 3.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,995 shares of the medical research company’s stock valued at $22,060,000 after purchasing an additional 3,714 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Analyst Ratings Changes

CRL has been the subject of several research reports. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Evercore ISI upped their price objective on Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Citigroup cut Charles River Laboratories International from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $215.00 to $175.00 in a research report on Tuesday, October 1st. Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a report on Monday, October 14th. They issued a “sell” rating and a $151.00 target price on the stock. Finally, UBS Group lifted their price target on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Charles River Laboratories International has a consensus rating of “Hold” and a consensus target price of $214.38.

Charles River Laboratories International Stock Up 0.9 %

Shares of NYSE CRL opened at $199.59 on Friday. 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, Inc. has a 12-month low of $176.48 and a 12-month high of $275.00. The company has a market cap of $10.21 billion, a P/E ratio of 24.98, a P/E/G ratio of 5.19 and a beta of 1.38. The stock has a fifty day moving average price of $194.64 and a 200 day moving average price of $205.19.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, beating 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 in the prior year, the company posted $2.72 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. 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 of Directors has approved a stock buyback program on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding 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 an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Charles River Laboratories International

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the sale, the director now directly owns 12,386 shares in the company, valued at approximately $2,676,862.32. The trade was a 34.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

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).