Gulf International Bank UK Ltd Cuts Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Gulf International Bank UK Ltd lowered its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,029 shares of the medical research company’s stock after selling 250 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Charles River Laboratories International were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake 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 valued at $914,000 after buying an additional 45 shares during the period. American Trust raised its holdings in Charles River Laboratories International by 5.9% in the second quarter. American Trust now owns 976 shares of the medical research company’s stock valued at $202,000 after acquiring an additional 54 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in Charles River Laboratories International by 77.0% in the second 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 during the last quarter. OLD National Bancorp IN grew its holdings 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 worth $392,000 after acquiring an additional 59 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its position in shares of Charles River Laboratories International by 2.0% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 3,154 shares of the medical research company’s stock valued at $652,000 after purchasing an additional 62 shares during the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRL has been the topic of several recent analyst reports. Baird R W lowered Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $215.00 in a report on Wednesday, October 2nd. Evercore ISI upped their price target on Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a report on Thursday. Barclays dropped their price target 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. Finally, Citigroup downgraded shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $215.00 to $175.00 in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Charles River Laboratories International has an average rating of “Hold” and a consensus price target of $214.93.

Charles River Laboratories International Stock Performance

Shares of CRL opened at $215.39 on Friday. The stock has a market capitalization of $11.12 billion, a P/E ratio of 25.80, a P/E/G ratio of 6.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. Charles River Laboratories International, Inc. has a 1 year low of $166.87 and a 1 year high of $275.00. The company’s fifty day moving average is $193.91 and its two-hundred day moving average is $208.49.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.72 earnings per share. On average, sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current year.

Charles River Laboratories International announced that its board has authorized a share buyback plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually an indication 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).