Jensen Investment Management Inc. Sells 3,730 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Jensen Investment Management Inc. decreased its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,180 shares of the medical research company’s stock after selling 3,730 shares during the period. Jensen Investment Management Inc.’s holdings in Charles River Laboratories International were worth $2,399,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Tortoise Investment Management LLC raised its position in 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 worth $27,000 after acquiring an additional 57 shares during the period. Wolff Wiese Magana LLC bought a new stake in shares of Charles River Laboratories International in the third quarter valued at approximately $32,000. Assetmark Inc. raised its position in shares of Charles River Laboratories International by 1,153.3% in the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 173 shares during the period. Headlands Technologies LLC bought a new stake in shares of Charles River Laboratories International in the first quarter valued at approximately $41,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 193 shares during the period. Institutional investors own 98.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $250.00 to $215.00 in a research note on Wednesday, October 2nd. UBS Group boosted their price objective on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup cut shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $215.00 to $175.00 in a research note on Tuesday, October 1st. Finally, Evercore ISI boosted their price objective on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $214.93.

Charles River Laboratories International Trading Up 2.4 %

Shares of CRL traded up $5.10 during mid-day trading on Friday, reaching $215.39. The company’s stock had a trading volume of 625,749 shares, compared to its average volume of 786,329. The company’s fifty day moving average price is $193.91 and its two-hundred day moving average price is $208.27. Charles River Laboratories International, Inc. has a 52 week low of $166.87 and a 52 week high of $275.00. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 0.61. The stock has a market cap of $11.12 billion, a PE ratio of 26.96, a P/E/G ratio of 7.22 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.72 EPS. On average, analysts predict that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 9.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Charles River Laboratories International 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).