Charles River Laboratories International, Inc. (NYSE:CRL) Position Trimmed by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC reduced its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 90.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 180 shares of the medical research company’s stock after selling 1,786 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Charles River Laboratories International were worth $35,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. O Shaughnessy Asset Management LLC acquired a new stake in Charles River Laboratories International during the first quarter worth about $415,000. CreativeOne Wealth LLC bought a new stake in shares of Charles River Laboratories International in the 1st quarter worth approximately $201,000. Advisors Asset Management Inc. lifted 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 purchasing an additional 1,126 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in Charles River Laboratories International by 12.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 8,116 shares of the medical research company’s stock valued at $2,199,000 after purchasing an additional 912 shares during the period. Finally, Tidal Investments LLC grew its stake in Charles River Laboratories International by 99.8% during the 1st quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company’s stock worth $1,435,000 after buying an additional 2,646 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Price Performance

NYSE:CRL opened at $201.16 on Tuesday. 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’s 50-day moving average price is $194.94 and its 200 day moving average price is $205.44. Charles River Laboratories International, Inc. has a 52-week low of $176.48 and a 52-week high of $275.00. The firm has a market cap of $10.29 billion, a P/E ratio of 25.18, a PEG ratio of 5.05 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. During the same quarter in the previous year, the company posted $2.72 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts predict 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 of Directors has authorized a share buyback program 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 buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $270.00 to $205.00 in a report on Thursday, August 8th. Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $250.00 to $215.00 in a research report on Wednesday, October 2nd. StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. CLSA lowered Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price objective for the company. in a report on Monday, November 18th. Finally, Baird R W downgraded Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Charles River Laboratories International has an average rating of “Hold” and an average target price of $214.38.

Insider Buying and Selling 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 directly owns 12,386 shares in the company, valued at $2,676,862.32. The trade was a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

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).