Principal Financial Group Inc. Buys 2,126 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Principal Financial Group Inc. increased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,501 shares of the medical research company’s stock after purchasing an additional 2,126 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Charles River Laboratories International worth $11,917,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Ground Swell Capital LLC purchased a new stake in shares of Charles River Laboratories International during the third quarter valued at about $283,000. Cambiar Investors LLC raised its stake in shares of Charles River Laboratories International by 1.1% during the 3rd quarter. Cambiar Investors LLC now owns 45,930 shares of the medical research company’s stock worth $9,047,000 after acquiring an additional 494 shares in the last quarter. Stephens Inc. AR lifted its position in Charles River Laboratories International by 126.9% during the third quarter. Stephens Inc. AR now owns 5,463 shares of the medical research company’s stock valued at $1,076,000 after acquiring an additional 3,055 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in Charles River Laboratories International by 19.2% in the third quarter. Iridian Asset Management LLC CT now owns 55,043 shares of the medical research company’s stock valued at $10,842,000 after acquiring an additional 8,876 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Charles River Laboratories International by 2.6% in the third quarter. State of Alaska Department of Revenue now owns 15,899 shares of the medical research company’s stock worth $3,131,000 after purchasing an additional 405 shares during the last quarter. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Trading Down 4.7 %

Shares of Charles River Laboratories International stock opened at $187.74 on Monday. The stock has a market cap of $9.60 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 4.84 and a beta of 1.38. The firm has a fifty day moving average price of $195.26 and a 200 day moving average price of $207.19. Charles River Laboratories International, Inc. has a 1 year low of $176.48 and a 1 year high of $275.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14.

Charles River Laboratories International (NYSE:CRL) last released 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 return on equity of 14.29% and a net margin of 10.44%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. During the same quarter last year, the business posted $2.72 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts predict that Charles River Laboratories International, Inc. will post 10.19 earnings per share for the current year.

Charles River Laboratories International announced that its board has approved a share buyback plan 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 purchase up to 9.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the sale, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on CRL shares. CLSA upgraded Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 price objective for the company in a report on Thursday, November 7th. Redburn Atlantic initiated coverage on Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 price target for the company. Robert W. Baird dropped their price target on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Evercore ISI increased 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 report on Thursday, November 7th. Finally, Citigroup cut 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 research note on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Charles River Laboratories International presently has a consensus rating of “Hold” and a consensus target price of $217.54.

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).