Gateway Investment Advisers LLC Decreases Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Gateway Investment Advisers LLC trimmed its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 32.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 978 shares of the medical research company’s stock after selling 467 shares during the period. Gateway Investment Advisers LLC’s holdings in Charles River Laboratories International were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Charles River Laboratories International during the fourth quarter valued at approximately $101,319,000. Point72 Asset Management L.P. increased its holdings in Charles River Laboratories International by 499.1% during the fourth quarter. Point72 Asset Management L.P. now owns 368,984 shares of the medical research company’s stock valued at $87,228,000 after buying an additional 307,398 shares during the last quarter. Meritage Group LP increased its holdings in Charles River Laboratories International by 30.8% during the fourth quarter. Meritage Group LP now owns 1,155,376 shares of the medical research company’s stock valued at $273,131,000 after buying an additional 271,743 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in Charles River Laboratories International by 2,733.4% during the first quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock valued at $67,060,000 after buying an additional 238,766 shares during the last quarter. Finally, KBC Group NV increased its holdings in Charles River Laboratories International by 5,003.9% during the fourth quarter. KBC Group NV now owns 215,639 shares of the medical research company’s stock valued at $50,977,000 after buying an additional 211,414 shares during 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 traded down $0.96 during midday trading on Friday, reaching $200.97. 1,060,174 shares of the company were exchanged, compared to its average volume of 581,319. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.73. The business’s fifty day moving average is $214.99 and its two-hundred day moving average is $231.28. Charles River Laboratories International, Inc. has a one year low of $161.65 and a one year high of $275.00. The stock has a market cap of $10.35 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Thursday, May 9th. The medical research company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.22. Charles River Laboratories International had a net margin of 10.81% and a return on equity of 15.16%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.24 million. As a group, analysts predict that Charles River Laboratories International, Inc. will post 10.99 earnings per share for the current year.

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

Analyst Ratings Changes

A number of analysts have commented on CRL shares. Barclays reduced their target price on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday. Baird R W lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Argus reiterated a “hold” rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. TD Cowen dropped their price target on shares of Charles River Laboratories International from $260.00 to $228.00 and set a “hold” rating for the company in a research report on Monday, May 13th. 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 for the company in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $232.79.

About Charles River Laboratories International

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).