Skandinaviska Enskilda Banken AB publ Reduces Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Skandinaviska Enskilda Banken AB publ decreased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 34.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,383 shares of the medical research company’s stock after selling 37,781 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.14% of Charles River Laboratories International worth $15,159,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CRL. Czech National Bank grew its position in shares of Charles River Laboratories International by 0.5% in the first quarter. Czech National Bank now owns 9,025 shares of the medical research company’s stock valued at $2,445,000 after purchasing an additional 41 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Charles River Laboratories International by 1.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 4,424 shares of the medical research company’s stock worth $914,000 after purchasing an additional 45 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Charles River Laboratories International by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after purchasing an additional 57 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its stake in shares of Charles River Laboratories International by 1.4% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,415 shares of the medical research company’s stock worth $1,196,000 after purchasing an additional 62 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Charles River Laboratories International by 2.0% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 3,154 shares of the medical research company’s stock worth $652,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRL. Mizuho initiated coverage on Charles River Laboratories International in a research note on Friday, June 7th. They issued a “neutral” rating and a $235.00 price target on the stock. Robert W. Baird lowered their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday. UBS Group lowered their target price 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. The Goldman Sachs Group reduced their price objective on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Argus restated a “hold” rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Charles River Laboratories International has a consensus rating of “Hold” and an average target price of $230.93.

Charles River Laboratories International Price Performance

Shares of NYSE:CRL opened at $205.79 on Friday. The company’s fifty day moving average is $209.34 and its two-hundred day moving average is $224.06. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. 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 $10.60 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 3.89 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, topping 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. Equities analysts expect that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current fiscal year.

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

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).