Smithfield Trust Co Sells 95 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Smithfield Trust Co lowered its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 28.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 235 shares of the medical research company’s stock after selling 95 shares during the period. Smithfield Trust Co’s holdings in Charles River Laboratories International were worth $47,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tortoise Investment Management LLC lifted its position in shares of Charles River Laboratories International by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after acquiring an additional 57 shares in the last quarter. Wolff Wiese Magana LLC bought a new stake in Charles River Laboratories International in the 3rd quarter worth approximately $32,000. Assetmark Inc. boosted its stake in shares of Charles River Laboratories International by 1,153.3% in the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after buying an additional 193 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Charles River Laboratories International by 40.9% during the third quarter. Covestor Ltd now owns 327 shares of the medical research company’s stock valued at $65,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

Insider Activity

In related news, Director Richard F. Wallman sold 6,621 shares of the firm’s 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 transaction, the director now directly owns 12,386 shares in the company, valued at $2,676,862.32. This trade represents a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

CRL has been the topic of several recent analyst reports. TD Cowen raised their target price on Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. CLSA cut shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price target for the company. in a research report on Monday, November 18th. Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $215.00 in a report on Wednesday, October 2nd. StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group dropped their price target on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Charles River Laboratories International has a consensus rating of “Hold” and a consensus price target of $214.38.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $195.77 on Friday. 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 business has a 50-day simple moving average of $194.99 and a 200-day simple moving average of $206.07. Charles River Laboratories International, Inc. has a 52-week low of $176.48 and a 52-week high of $275.00. The stock has a market cap of $10.01 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 4.80 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 10.44% and a return on equity of 14.29%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.72 earnings per share. On average, equities analysts expect that Charles River Laboratories International, Inc. will post 10.19 EPS for the current year.

Charles River Laboratories International announced that its Board of Directors has initiated a share buyback program on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 9.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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).