Zacks Investment Research lowered shares of Charles River Laboratories International, Inc. (NYSE:CRL) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years. “

Other analysts also recently issued research reports about the stock. Jefferies Group LLC reissued a buy rating on shares of Charles River Laboratories International in a report on Wednesday, June 14th. Barclays PLC reissued a hold rating and set a $102.00 price objective on shares of Charles River Laboratories International in a report on Wednesday, July 19th. Credit Suisse Group reissued a neutral rating and set a $95.00 price objective (up previously from $89.00) on shares of Charles River Laboratories International in a report on Tuesday, June 6th. Citigroup Inc. reissued a neutral rating and set a $104.00 price objective (up previously from $90.00) on shares of Charles River Laboratories International in a report on Thursday, May 11th. Finally, BidaskClub raised shares of Charles River Laboratories International from a buy rating to a strong-buy rating in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Charles River Laboratories International presently has an average rating of Hold and a consensus price target of $97.06.

Charles River Laboratories International (CRL) traded down 0.92% during midday trading on Tuesday, hitting $97.53. 445,634 shares of the stock traded hands. The company’s 50 day moving average is $99.16 and its 200-day moving average is $90.42. The company has a market cap of $4.65 billion, a P/E ratio of 28.54 and a beta of 1.03. Charles River Laboratories International has a one year low of $67.20 and a one year high of $102.32.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, May 10th. The medical research company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.15. The business had revenue of $445.80 million for the quarter, compared to the consensus estimate of $437.04 million. Charles River Laboratories International had a net margin of 9.28% and a return on equity of 27.46%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, equities research analysts forecast that Charles River Laboratories International will post $5.10 EPS for the current fiscal year.

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Charles River Laboratories International announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 10th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other Charles River Laboratories International news, insider Davide Molho sold 10,976 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $92.84, for a total value of $1,019,011.84. Following the sale, the insider now owns 27,525 shares of the company’s stock, valued at $2,555,421. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Ross Smith sold 945 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $95.00, for a total transaction of $89,775.00. Following the completion of the sale, the insider now directly owns 14,203 shares in the company, valued at approximately $1,349,285. The disclosure for this sale can be found here. Insiders sold 80,499 shares of company stock worth $7,946,191 in the last ninety days. Insiders own 2.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its stake in shares of Charles River Laboratories International by 41.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,785 shares of the medical research company’s stock valued at $135,000 after buying an additional 526 shares during the period. Cambridge Advisors Inc. acquired a new stake in shares of Charles River Laboratories International during the second quarter valued at about $202,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Charles River Laboratories International during the second quarter valued at about $217,000. MAI Capital Management acquired a new stake in shares of Charles River Laboratories International during the first quarter valued at about $224,000. Finally, Wsfs Capital Management LLC acquired a new stake in shares of Charles River Laboratories International during the fourth quarter valued at about $205,000. 98.05% of the stock is currently owned by institutional investors.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

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Analyst Recommendations for Charles River Laboratories International (NYSE:CRL)

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