Quantbot Technologies LP Acquires New Shares in Charles River Laboratories International, Inc. (NYSE:CRL)

Quantbot Technologies LP acquired a new position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,169 shares of the medical research company’s stock, valued at approximately $1,609,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its stake in shares of Charles River Laboratories International by 99.8% in the first quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company’s stock valued at $1,435,000 after purchasing an additional 2,646 shares during the period. Comerica Bank raised its stake in Charles River Laboratories International by 5.6% during the 1st quarter. Comerica Bank now owns 17,514 shares of the medical research company’s stock valued at $4,745,000 after acquiring an additional 927 shares in the last quarter. Atria Investments Inc boosted its position in Charles River Laboratories International by 19.6% during the 1st quarter. Atria Investments Inc now owns 17,502 shares of the medical research company’s stock worth $4,742,000 after acquiring an additional 2,873 shares during the period. Cetera Investment Advisers grew its stake in shares of Charles River Laboratories International by 223.4% in the first quarter. Cetera Investment Advisers now owns 9,740 shares of the medical research company’s stock worth $2,639,000 after purchasing an additional 6,728 shares in the last quarter. Finally, Cetera Advisors LLC increased its holdings in shares of Charles River Laboratories International by 197.1% during the first quarter. Cetera Advisors LLC now owns 3,357 shares of the medical research company’s stock valued at $910,000 after purchasing an additional 2,227 shares during the period. 98.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles River Laboratories International

In other news, Director Richard F. Wallman sold 6,621 shares of Charles River Laboratories International stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the completion of the sale, the director now directly owns 12,386 shares in the company, valued at $2,676,862.32. The trade was a 34.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

CRL has been the subject of a number of recent analyst reports. UBS Group increased their target price on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lowered their price objective on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Citigroup downgraded Charles River Laboratories International from a “neutral” rating to a “sell” rating and cut their target price for the stock from $215.00 to $175.00 in a research report on Tuesday, October 1st. 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. Finally, JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $270.00 to $205.00 in a report on Thursday, August 8th. 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, the stock has an average rating of “Hold” and a consensus target price of $214.38.

Charles River Laboratories International Stock Performance

Shares of Charles River Laboratories International stock opened at $199.23 on Friday. Charles River Laboratories International, Inc. has a 12 month low of $176.48 and a 12 month high of $275.00. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. The stock has a market cap of $10.19 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 5.15 and a beta of 1.38. The business has a fifty day simple moving average of $194.45 and a 200-day simple moving average of $205.15.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The firm had revenue of $1.01 billion during 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 business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $2.72 EPS. On average, sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 10.19 EPS for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has approved a stock buyback program on Wednesday, August 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Charles River Laboratories International 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).