Clearbridge Investments LLC Has $282.71 Million Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Clearbridge Investments LLC trimmed its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,368,505 shares of the medical research company’s stock after selling 144,633 shares during the quarter. Clearbridge Investments LLC owned 2.66% of Charles River Laboratories International worth $282,706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. APG Asset Management US Inc. bought a new position in Charles River Laboratories International in the 4th quarter worth approximately $2,321,000. Boston Trust Walden Corp lifted its position in Charles River Laboratories International by 2.8% during the 2nd quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company’s stock worth $41,381,000 after buying an additional 5,375 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Charles River Laboratories International by 5.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 56,840 shares of the medical research company’s stock worth $15,401,000 after buying an additional 2,739 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Charles River Laboratories International during the 1st quarter worth about $8,301,000. Finally, Natixis acquired a new stake in Charles River Laboratories International in the 1st quarter valued at about $1,058,000. 98.91% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Price Performance

Shares of NYSE:CRL opened at $196.97 on Tuesday. The company’s fifty day moving average price is $206.53 and its 200-day moving average price is $220.74. The firm has a market capitalization of $10.15 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 4.09 and a beta of 1.36. Charles River Laboratories International, Inc. has a one year low of $161.65 and a one year high of $275.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) 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 analyst estimates of $1.03 billion. On average, equities research analysts anticipate that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its board has approved a stock repurchase program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CRL shares. Barclays cut their price objective on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Robert W. Baird dropped their target price on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Evercore ISI dropped their target price on shares of Charles River Laboratories International from $265.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Argus reiterated a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. Finally, The Goldman Sachs Group decreased their target price on shares of 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Charles River Laboratories International presently has a consensus rating of “Hold” and a consensus price target of $220.73.

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).