Charles River Laboratories International, Inc. (NYSE:CRL) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,286 shares of the medical research company’s stock after acquiring an additional 1,245 shares during the period. Rhumbline Advisers’ holdings in Charles River Laboratories International were worth $18,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of Charles River Laboratories International during the 1st quarter worth approximately $41,000. Brown Brothers Harriman & Co. lifted its position in shares of Charles River Laboratories International by 76.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 95 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Charles River Laboratories International by 219.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 193 shares during the last quarter. Concord Wealth Partners increased its position in Charles River Laboratories International by 362.5% during the 1st quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after purchasing an additional 203 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its stake in Charles River Laboratories International by 1,072.7% in the 1st quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Trading Down 1.7 %

NYSE CRL opened at $187.96 on Monday. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 3.97 and a beta of 1.36. 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, Inc. has a one year low of $161.65 and a one year high of $275.00. The company’s 50 day moving average price is $210.24 and its 200 day moving average price is $227.47.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.41. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. On average, sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.02 EPS for the current year.

Charles River Laboratories International announced that its board has initiated a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CRL shares. Robert W. Baird downgraded shares of Charles River Laboratories International from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $239.00 to $191.00 in a report on Thursday, August 8th. Baird R W cut shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price target for the company from $270.00 to $205.00 in a report on Thursday, August 8th. Argus restated a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. Finally, UBS Group dropped their target price on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently 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).