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

Prospera Private Wealth LLC bought a new position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 851 shares of the medical research company’s stock, valued at approximately $168,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Charles River Laboratories International by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock worth $394,359,000 after purchasing an additional 31,359 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Charles River Laboratories International by 40.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock valued at $346,821,000 after acquiring an additional 509,163 shares during the period. Earnest Partners LLC boosted its stake in Charles River Laboratories International by 12.4% in the second quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after acquiring an additional 110,725 shares during the period. Marshall Wace LLP boosted its stake in Charles River Laboratories International by 24.6% in the second quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock valued at $170,615,000 after acquiring an additional 163,056 shares during the period. Finally, Sei Investments Co. boosted its stake in Charles River Laboratories International by 8.6% in the second quarter. Sei Investments Co. now owns 624,800 shares of the medical research company’s stock valued at $129,072,000 after acquiring an additional 49,451 shares during the period. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Trading Up 1.0 %

NYSE CRL opened at $187.90 on Thursday. Charles River Laboratories International, Inc. has a 1-year low of $176.48 and a 1-year high of $275.00. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. The company has a market capitalization 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 firm’s fifty day simple moving average is $195.05 and its 200-day simple moving average is $206.43.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $975.99 million. During the same period in the prior year, the business posted $2.72 earnings per share. Charles River Laboratories International’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its board 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 repurchase up to 9.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

CRL has been the subject of several analyst reports. Barclays reduced their price objective on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Bank of America cut Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $215.00 in a report on Wednesday, October 2nd. Robert W. Baird dropped their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. UBS Group boosted their target price on Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, TD Cowen upped their price target on Charles River Laboratories International from $203.00 to $227.00 and gave the company a “hold” rating in a report on Monday, November 11th. 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. According to MarketBeat.com, Charles River Laboratories International presently has a consensus rating of “Hold” and a consensus price target of $214.38.

Insiders Place Their Bets

In other Charles River Laboratories International news, 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 transaction of $1,430,930.52. Following the transaction, the director now directly owns 12,386 shares of the company’s stock, valued at $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

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).