Tortoise Investment Management LLC Increases Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Tortoise Investment Management LLC increased its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 77.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131 shares of the medical research company’s stock after buying an additional 57 shares during the quarter. Tortoise Investment Management LLC’s holdings in Charles River Laboratories International were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. APG Asset Management US Inc. acquired a new position in shares of Charles River Laboratories International in the 4th quarter valued at about $2,321,000. Norges Bank acquired a new position in Charles River Laboratories International in the 4th quarter worth about $101,319,000. Boston Trust Walden Corp raised its holdings in Charles River Laboratories International by 2.8% in the 2nd quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company’s stock worth $41,381,000 after purchasing an additional 5,375 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Charles River Laboratories International by 30.8% during the fourth quarter. Principal Financial Group Inc. now owns 152,537 shares of the medical research company’s stock valued at $36,060,000 after acquiring an additional 35,921 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Charles River Laboratories International by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 56,840 shares of the medical research company’s stock valued at $15,401,000 after acquiring an additional 2,739 shares during the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Down 0.1 %

Shares of NYSE CRL opened at $191.77 on Thursday. Charles River Laboratories International, Inc. has a 12-month low of $161.65 and a 12-month high of $275.00. The company has a market cap of $9.90 billion, a P/E ratio of 22.56, a P/E/G ratio of 3.97 and a beta of 1.38. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $210.94 and a 200 day moving average price of $228.30.

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

Charles River Laboratories International announced that its board has authorized 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 reacquire up to 9.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CRL shares. JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. Robert W. Baird lowered Charles River Laboratories International from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $239.00 to $191.00 in a research report on Thursday, August 8th. Argus reiterated a “hold” rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. Baird R W cut Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, TD Cowen decreased their target price on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a report on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Charles River Laboratories International presently has an average rating of “Hold” and a consensus price target of $231.00.

Charles River Laboratories International 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).