Commerce Bank Sells 107 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Commerce Bank lessened its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,397 shares of the medical research company’s stock after selling 107 shares during the quarter. Commerce Bank’s holdings in Charles River Laboratories International were worth $1,063,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC bought a new stake in shares of Charles River Laboratories International in the 1st quarter worth about $415,000. CreativeOne Wealth LLC bought a new stake in Charles River Laboratories International in the first quarter worth about $201,000. Advisors Asset Management Inc. boosted its position in shares of Charles River Laboratories International by 50.4% during the first quarter. Advisors Asset Management Inc. now owns 3,359 shares of the medical research company’s stock valued at $910,000 after buying an additional 1,126 shares during the period. BOKF NA raised its holdings in shares of Charles River Laboratories International by 10.5% in the first quarter. BOKF NA now owns 6,031 shares of the medical research company’s stock worth $1,621,000 after buying an additional 575 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Charles River Laboratories International by 10.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 52,255 shares of the medical research company’s stock worth $14,158,000 after acquiring an additional 4,932 shares during the last quarter. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Up 0.8 %

Shares of Charles River Laboratories International stock opened at $195.77 on Monday. The firm’s 50 day moving average price is $194.99 and its 200-day moving average price is $205.65. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. Charles River Laboratories International, Inc. has a 52-week low of $176.48 and a 52-week high of $275.00. The company has a market cap of $10.01 billion, a P/E ratio of 24.50, a PEG ratio of 5.01 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last announced 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. 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 return on equity of 14.29% and a net margin of 10.44%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.72 earnings per share. On average, sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.19 EPS for the current fiscal year.

Charles River Laboratories International announced that its board has initiated a stock repurchase 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 purchase up to 9.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CRL has been the subject of several research analyst reports. The Goldman Sachs Group decreased 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 report on Thursday, August 8th. Robert W. Baird dropped their target price on shares of 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. TD Cowen lifted their price target on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Evercore ISI raised their price objective on Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, CLSA cut Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price for the company. in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Charles River Laboratories International currently has an average rating of “Hold” and a consensus price target of $214.38.

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).