Prospera Private Wealth LLC Makes New $168,000 Investment in Charles River Laboratories International, Inc. (NYSE:CRL)

Prospera Private Wealth LLC bought a new stake in Charles River Laboratories International, Inc. (NYSE:CRL) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 851 shares of the medical research company’s stock, valued at approximately $168,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 valued at $27,000 after acquiring an additional 57 shares during the last quarter. Wolff Wiese Magana LLC purchased a new stake in Charles River Laboratories International during the 3rd quarter valued at approximately $32,000. Assetmark Inc. raised its stake in 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 valued at $37,000 after acquiring an additional 173 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Charles River Laboratories International by 219.3% during the 2nd 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. Finally, Covestor Ltd raised its stake in shares of Charles River Laboratories International by 40.9% during the 3rd quarter. Covestor Ltd now owns 327 shares of the medical research company’s stock worth $65,000 after buying an additional 95 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Price Performance

Shares of NYSE:CRL opened at $187.90 on Thursday. The business’s fifty day moving average price is $195.05 and its two-hundred day moving average price is $206.43. The stock has a market cap of $9.61 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 4.84 and a beta of 1.38. 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 one year low of $176.48 and a one year high of $275.00.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results 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. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. Charles River Laboratories International’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.72 EPS. On average, analysts forecast that Charles River Laboratories International, Inc. will post 10.19 EPS for the current fiscal year.

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

Insider Transactions at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of Charles River Laboratories International stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the transaction, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CRL shares. UBS Group increased their target price on Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird cut their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $270.00 to $205.00 in a research note on Thursday, August 8th. The Goldman Sachs Group cut their target price on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, CLSA downgraded Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price for the company. in a research note on Monday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Charles River Laboratories International has a consensus rating of “Hold” and an average price target of $214.38.

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).