Insider Selling: Charles River Laboratories International, Inc. (NYSE:CRL) Director Sells 6,621 Shares of Stock

Charles River Laboratories International, Inc. (NYSE:CRL) 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 value 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Charles River Laboratories International Stock Down 4.6 %

Shares of CRL stock opened at $196.97 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. Charles River Laboratories International, Inc. has a 52-week low of $176.48 and a 52-week high of $275.00. The firm’s 50-day moving average is $195.26 and its 200-day moving average is $207.82. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 5.57 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.72 EPS. Sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.18 EPS for the current year.

Charles River Laboratories International announced that its board has authorized a share buyback plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tortoise Investment Management LLC raised its stake in Charles River Laboratories International by 77.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after buying an additional 57 shares during the period. Wolff Wiese Magana LLC bought a new stake in Charles River Laboratories International during the 3rd quarter worth approximately $32,000. Assetmark Inc. lifted its holdings in shares of Charles River Laboratories International by 1,153.3% during the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after acquiring an additional 173 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Charles River Laboratories International during the first quarter valued at about $41,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Charles River Laboratories International by 219.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 193 shares during the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Redburn Atlantic began coverage on 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. Baird R W cut Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Bank of America lowered shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $250.00 to $215.00 in a research note on Wednesday, October 2nd. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $270.00 to $205.00 in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $217.54.

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).