Smithfield Trust Co Trims Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Smithfield Trust Co lowered its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 28.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 235 shares of the medical research company’s stock after selling 95 shares during the quarter. Smithfield Trust Co’s holdings in Charles River Laboratories International were worth $47,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC purchased a new position in Charles River Laboratories International during the first quarter worth about $415,000. Natixis bought a new position in Charles River Laboratories International during the first quarter worth $1,058,000. CreativeOne Wealth LLC bought a new stake in shares of Charles River Laboratories International during the 1st quarter valued at about $201,000. Axxcess Wealth Management LLC grew its stake in Charles River Laboratories International by 54.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 2,094 shares of the medical research company’s stock worth $567,000 after buying an additional 741 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Charles River Laboratories International by 50.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,359 shares of the medical research company’s stock worth $910,000 after acquiring an additional 1,126 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Price Performance

Shares of CRL stock opened at $195.77 on Friday. The business has a fifty day simple moving average of $194.99 and a 200 day simple moving average of $206.07. Charles River Laboratories International, Inc. has a twelve month low of $176.48 and a twelve 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 company has a market cap of $10.01 billion, a P/E ratio of 24.50, a P/E/G ratio of 4.80 and a beta of 1.38.

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

Charles River Laboratories International announced that its board has initiated a share repurchase program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on CRL. Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a research note on Monday, October 14th. They set a “sell” rating and a $151.00 target price on the stock. UBS Group upped their price target 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 reduced 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, August 8th. 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, Citigroup downgraded shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and cut their price target for the company from $215.00 to $175.00 in a report on Tuesday, October 1st. Three 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $214.38.

Insider Buying and Selling

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total value of $1,430,930.52. Following the transaction, the director now directly owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

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).