Charles Schwab Investment Management Inc. Has $101.48 Million Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Charles Schwab Investment Management Inc. boosted its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 6.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 515,222 shares of the medical research company’s stock after purchasing an additional 32,311 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Charles River Laboratories International were worth $101,483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of Charles River Laboratories International by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock valued at $346,821,000 after buying an additional 509,163 shares in the last quarter. Marshall Wace LLP raised its position in shares of Charles River Laboratories International by 24.6% in the 2nd quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock valued at $170,615,000 after buying an additional 163,056 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Charles River Laboratories International in the 2nd quarter valued at approximately $33,053,000. Earnest Partners LLC raised its position in shares of Charles River Laboratories International by 12.4% in the 2nd quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after buying an additional 110,725 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Charles River Laboratories International by 73.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 239,913 shares of the medical research company’s stock valued at $49,561,000 after buying an additional 101,732 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CRL shares. Baird R W cut shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Robert W. Baird lowered their price objective on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. StockNews.com cut shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $215.00 in a research report on Wednesday, October 2nd. Finally, TD Cowen upped their price objective on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $214.38.

Insider Activity

In other news, Director Richard F. Wallman sold 6,621 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Charles River Laboratories International Trading Down 1.8 %

CRL opened at $197.75 on Wednesday. Charles River Laboratories International, Inc. has a fifty-two week low of $176.48 and a fifty-two week high of $275.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 5.05 and a beta of 1.38. The company’s 50 day moving average price is $194.94 and its two-hundred day moving average price is $205.44.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 EPS 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 for the quarter, compared to analyst estimates of $975.99 million. During the same period in the prior year, the firm posted $2.72 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, research analysts predict that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current year.

Charles River Laboratories International declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 9.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are 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).