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

Jensen Investment Management Inc. cut its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 23.4% in the third quarter, HoldingsChannel.com reports. The fund 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 Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CRL. Texas Permanent School Fund Corp grew its stake in shares of Charles River Laboratories International by 3.0% in the first quarter. Texas Permanent School Fund Corp now owns 10,602 shares of the medical research company’s stock worth $2,873,000 after acquiring an additional 307 shares during the period. Empirical Finance LLC grew its position in Charles River Laboratories International by 5.3% during the first quarter. Empirical Finance LLC now owns 1,272 shares of the medical research company’s stock valued at $345,000 after buying an additional 64 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Charles River Laboratories International by 2.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 9,631 shares of the medical research company’s stock valued at $2,610,000 after buying an additional 200 shares during the period. Empowered Funds LLC grew its position in Charles River Laboratories International by 10.0% during the first quarter. Empowered Funds LLC now owns 3,344 shares of the medical research company’s stock valued at $906,000 after buying an additional 304 shares during the period. Finally, SG Americas Securities LLC grew its position in Charles River Laboratories International by 23.4% during the first quarter. SG Americas Securities LLC now owns 16,362 shares of the medical research company’s stock valued at $4,433,000 after buying an additional 3,108 shares during the period. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Price Performance

CRL traded up $5.10 during trading hours on Friday, hitting $215.39. The company’s stock had a trading volume of 625,749 shares, compared to its average volume of 786,329. The business’s 50-day moving average price is $193.91 and its 200-day moving average price is $208.27. Charles River Laboratories International, Inc. has a 12 month low of $166.87 and a 12 month high of $275.00. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 7.22 and a beta of 1.38. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 0.61.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 business 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 business posted $2.72 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts expect 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 has approved 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 purchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

CRL has been the subject of several recent research reports. Bank of America lowered shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $215.00 in a research report on Wednesday, October 2nd. TD Cowen cut their target price on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research report on Monday, August 12th. 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 report on Friday, September 20th. The Goldman Sachs Group lowered their price target on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, CLSA raised shares of Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 price target on the stock in a report on Thursday. Two 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. According to data from MarketBeat, Charles River Laboratories International presently has a consensus rating of “Hold” and an average target price of $214.93.

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).