Raymond James & Associates Acquires 925 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Raymond James & Associates increased its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 0.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 249,037 shares of the medical research company’s stock after buying an additional 925 shares during the quarter. Raymond James & Associates owned about 0.48% of Charles River Laboratories International worth $49,053,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CRL. Tortoise Investment Management LLC grew its stake in shares of Charles River Laboratories International by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after acquiring an additional 57 shares during the period. Wolff Wiese Magana LLC purchased a new stake in Charles River Laboratories International in the third quarter worth approximately $32,000. Headlands Technologies LLC bought a new stake in Charles River Laboratories International in the 1st quarter worth approximately $41,000. Whittier Trust Co. of Nevada Inc. raised its stake in Charles River Laboratories International by 219.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after buying an additional 193 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Charles River Laboratories International by 1,072.7% during the 1st quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock valued at $70,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays cut their price objective on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. UBS Group reduced their price target on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Bank of America downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $215.00 in a report on Wednesday, October 2nd. Citigroup lowered shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and cut their target price for the company from $215.00 to $175.00 in a research report on Tuesday, October 1st. Finally, TD Cowen decreased their price target on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $212.23.

Charles River Laboratories International Stock Performance

NYSE:CRL opened at $185.87 on Wednesday. The stock has a 50-day moving average price of $197.22 and a 200 day moving average price of $213.02. The stock has a market capitalization of $9.57 billion, a P/E ratio of 21.87, a P/E/G ratio of 5.11 and a beta of 1.36. 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 current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.41. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. Equities research analysts forecast that Charles River Laboratories International, Inc. will post 10.01 EPS for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors 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 reacquire up to 9.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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).