US Bancorp DE Sells 7,851 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

US Bancorp DE lowered its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 36.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,726 shares of the medical research company’s stock after selling 7,851 shares during the period. US Bancorp DE’s holdings in Charles River Laboratories International were worth $2,704,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CRL. Tortoise Investment Management LLC raised its stake in shares of Charles River Laboratories International by 77.0% in the second 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 bought a new position in Charles River Laboratories International in the 3rd quarter worth approximately $32,000. Headlands Technologies LLC bought a new position in Charles River Laboratories International in the 1st quarter worth approximately $41,000. Whittier Trust Co. of Nevada Inc. raised its position in Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after purchasing an additional 193 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Charles River Laboratories International in the 3rd quarter worth approximately $79,000. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Price Performance

Shares of NYSE CRL opened at $188.90 on Wednesday. The firm has a market cap of $9.75 billion, a PE ratio of 22.62, a PEG ratio of 6.20 and a beta of 1.38. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. Charles River Laboratories International, Inc. has a 1-year low of $166.87 and a 1-year high of $275.00. The company has a fifty day moving average price of $193.28 and a 200 day moving average price of $208.83.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.41. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. Research analysts predict that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors has approved a stock repurchase 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price objective 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. Robert W. Baird lowered their target price on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Citigroup lowered shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $215.00 to $175.00 in a report on Tuesday, October 1st. CLSA began coverage on shares of Charles River Laboratories International in a report on Wednesday, October 23rd. They set an “underperform” rating and a $167.00 target price for the company. Finally, Evercore ISI lowered shares of Charles River Laboratories International from an “outperform” rating to an “inline” rating and lowered their target price for the stock from $225.00 to $190.00 in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $209.00.

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).