Assenagon Asset Management S.A. cut its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 57.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,221 shares of the medical research company’s stock after selling 120,821 shares during the period. Charles River Laboratories International makes up 0.2% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 15th largest position. Assenagon Asset Management S.A. owned about 0.19% of Charles River Laboratories International worth $9,227,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of CRL. Envestnet Asset Management Inc. boosted its position in Charles River Laboratories International by 41.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,785 shares of the medical research company’s stock worth $135,000 after buying an additional 526 shares during the period. Wsfs Capital Management LLC bought a new position in Charles River Laboratories International during the fourth quarter worth approximately $205,000. MAI Capital Management bought a new position in Charles River Laboratories International during the first quarter worth approximately $224,000. Massmutual Trust Co. FSB ADV boosted its position in Charles River Laboratories International by 5.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,739 shares of the medical research company’s stock worth $246,000 after buying an additional 130 shares during the period. Finally, Opus Point Partners Management LLC bought a new position in Charles River Laboratories International during the fourth quarter worth approximately $252,000. 96.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Charles River Laboratories International, Inc. (NYSE:CRL) opened at 99.53 on Friday. Charles River Laboratories International, Inc. has a 52-week low of $67.20 and a 52-week high of $102.32. The firm has a market cap of $4.74 billion, a P/E ratio of 29.13 and a beta of 1.02. The firm’s 50-day moving average is $99.43 and its 200-day moving average is $90.83.
Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, May 10th. The medical research company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.15. Charles River Laboratories International had a return on equity of 27.46% and a net margin of 9.28%. The company had revenue of $445.80 million during the quarter, compared to the consensus estimate of $437.04 million. During the same quarter in the previous year, the company posted $0.98 EPS. Charles River Laboratories International’s quarterly revenue was up 25.6% compared to the same quarter last year. Analysts anticipate that Charles River Laboratories International, Inc. will post $5.10 earnings per share for the current year.
Charles River Laboratories International announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 10th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
A number of research analysts have recently commented on CRL shares. Zacks Investment Research raised shares of Charles River Laboratories International from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a report on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and issued a $121.00 target price on shares of Charles River Laboratories International in a report on Friday, June 30th. BidaskClub cut shares of Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Barclays PLC reiterated a “hold” rating and issued a $102.00 price objective on shares of Charles River Laboratories International in a report on Wednesday, July 19th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $95.00 price objective (up previously from $89.00) on shares of Charles River Laboratories International in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $97.06.
In other Charles River Laboratories International news, insider David Ross Smith sold 945 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $95.00, for a total value of $89,775.00. Following the completion of the sale, the insider now owns 14,203 shares in the company, valued at $1,349,285. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James C. Foster sold 43,154 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $4,315,400.00. Following the completion of the sale, the chairman now owns 361,178 shares of the company’s stock, valued at approximately $36,117,800. The disclosure for this sale can be found here. Insiders sold 80,499 shares of company stock valued at $7,946,191 in the last quarter. Corporate insiders own 2.20% of the company’s stock.
About Charles River Laboratories International
Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.
Receive News & Ratings for Charles River Laboratories International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles River Laboratories International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
