iA Global Asset Management Inc. Takes Position in Charles River Laboratories International, Inc. (NYSE:CRL)

iA Global Asset Management Inc. purchased a new position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 420 shares of the medical research company’s stock, valued at approximately $87,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Czech National Bank increased its holdings in shares of Charles River Laboratories International by 0.5% during the first quarter. Czech National Bank now owns 9,025 shares of the medical research company’s stock valued at $2,445,000 after acquiring an additional 41 shares in the last quarter. Dumont & Blake Investment Advisors LLC grew its position in Charles River Laboratories International by 1.4% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,415 shares of the medical research company’s stock valued at $1,196,000 after purchasing an additional 62 shares during the period. Mitchell & Pahl Private Wealth LLC increased its stake in Charles River Laboratories International by 2.0% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 3,154 shares of the medical research company’s stock valued at $652,000 after purchasing an additional 62 shares in the last quarter. Empirical Finance LLC raised its holdings 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 worth $345,000 after buying an additional 64 shares during the last quarter. Finally, VisionPoint Advisory Group LLC raised its holdings in Charles River Laboratories International by 45.1% during the fourth quarter. VisionPoint Advisory Group LLC now owns 209 shares of the medical research company’s stock worth $49,000 after buying an additional 65 shares during the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. TD Cowen decreased 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. UBS Group decreased their price objective on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Mizuho initiated coverage on Charles River Laboratories International in a research report on Friday, June 7th. They set a “neutral” rating and a $235.00 target price on the stock. Argus reiterated a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. Finally, Barclays dropped their price objective on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Charles River Laboratories International has a consensus rating of “Hold” and a consensus target price of $231.00.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $197.75 on Monday. Charles River Laboratories International, Inc. has a 52 week low of $161.65 and a 52 week high of $275.00. The firm’s 50-day simple moving average is $211.77 and its two-hundred day simple moving average is $229.26. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 3.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.41. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. As a group, equities analysts forecast that Charles River Laboratories International, Inc. will post 10.02 earnings per share for the current year.

Charles River Laboratories International declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Charles River Laboratories International Company 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).