Hood River Capital Management LLC Buys Shares of 19,226 Charles River Laboratories International, Inc. (NYSE:CRL)

Hood River Capital Management LLC bought a new position in Charles River Laboratories International, Inc. (NYSE:CRL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 19,226 shares of the medical research company’s stock, valued at approximately $3,972,000.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Charles River Laboratories International by 1.1% in the first quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock worth $1,638,290,000 after acquiring an additional 66,161 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Charles River Laboratories International by 1.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock valued at $394,359,000 after purchasing an additional 31,359 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Charles River Laboratories International by 3.1% during the first quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock valued at $409,985,000 after purchasing an additional 45,079 shares during the period. Allspring Global Investments Holdings LLC increased its position in Charles River Laboratories International by 11.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock worth $258,559,000 after buying an additional 132,802 shares in the last quarter. Finally, Meritage Group LP raised its stake in shares of Charles River Laboratories International by 2.3% in the first quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock worth $320,336,000 after buying an additional 26,892 shares during the period. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Performance

NYSE CRL opened at $203.83 on Tuesday. The business’s 50 day moving average price is $209.09 and its 200-day moving average price is $223.05. Charles River Laboratories International, Inc. has a fifty-two week low of $161.65 and a fifty-two week high of $275.00. The company has a market cap of $10.50 billion, a P/E ratio of 23.98, a P/E/G ratio of 3.89 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 (NYSE:CRL) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.41. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. Sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current 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 buyback $1.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRL. StockNews.com upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Robert W. Baird decreased their target price 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. Evercore ISI dropped their price target on Charles River Laboratories International from $265.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Argus reiterated a “hold” rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. Finally, The Goldman Sachs Group lowered their target price on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $227.55.

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).