Pioneer Investment Management Inc. cut its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 39.5% during the second quarter, Holdings Channel reports. The institutional investor owned 99,110 shares of the medical research company’s stock after selling 64,615 shares during the period. Pioneer Investment Management Inc.’s holdings in Charles River Laboratories International were worth $10,025,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the stock. Cambridge Advisors Inc. purchased a new stake in shares of Charles River Laboratories International during the second quarter worth $202,000. Advisor Partners LLC purchased a new stake in shares of Charles River Laboratories International during the second quarter worth $208,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Charles River Laboratories International during the second quarter worth $217,000. MAI Capital Management purchased a new stake in shares of Charles River Laboratories International during the first quarter worth $224,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Charles River Laboratories International by 5.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,739 shares of the medical research company’s stock worth $246,000 after buying an additional 130 shares in the last quarter. Institutional investors own 95.81% of the company’s stock.

Charles River Laboratories International, Inc. (NYSE CRL) opened at 97.97 on Friday. Charles River Laboratories International, Inc. has a 12-month low of $67.20 and a 12-month high of $102.32. The stock has a 50 day moving average price of $99.80 and a 200-day moving average price of $91.67. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 25.82 and a beta of 1.02.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, August 9th. The medical research company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. Charles River Laboratories International had a return on equity of 27.02% and a net margin of 10.13%. The firm had revenue of $469.13 million during the quarter, compared to analyst estimates of $458.25 million. During the same quarter last year, the firm earned $1.20 EPS. Charles River Laboratories International’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that Charles River Laboratories International, Inc. will post $5.10 earnings per share for the current year.

Charles River Laboratories International declared that its board has approved a share repurchase program on Wednesday, May 10th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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A number of brokerages have weighed in on CRL. Zacks Investment Research upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday. Barclays PLC set a $90.00 price objective on Charles River Laboratories International and gave the company a “hold” rating in a research note on Saturday, May 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $121.00 price objective on shares of Charles River Laboratories International in a research note on Friday, June 30th. Credit Suisse Group reiterated a “neutral” rating and issued a $95.00 price objective (up previously from $89.00) on shares of Charles River Laboratories International in a research note on Tuesday, June 6th. Finally, BidaskClub upgraded Charles River Laboratories International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $96.94.

In other Charles River Laboratories International news, insider Davide Molho sold 10,948 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $1,094,800.00. Following the transaction, the insider now owns 27,497 shares of the company’s stock, valued at approximately $2,749,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director George Massaro sold 3,830 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $100.81, for a total value of $386,102.30. Following the transaction, the director now directly owns 18,731 shares in the company, valued at approximately $1,888,272.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,369 shares of company stock worth $7,846,412. 2.20% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Charles River Laboratories International (NYSE:CRL)

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