Charles River Laboratories International, Inc. (NYSE:CRL) Stock Position Lowered by LGT Financial Advisors LLC

LGT Financial Advisors LLC decreased its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 58.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 205 shares of the medical research company’s stock after selling 284 shares during the period. LGT Financial Advisors LLC’s holdings in Charles River Laboratories International were worth $42,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 66,161 shares during the period. Clearbridge Investments LLC boosted its position in Charles River Laboratories International by 3.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock worth $409,985,000 after acquiring an additional 45,079 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Charles River Laboratories International by 11.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock worth $258,559,000 after acquiring an additional 132,802 shares during the period. Meritage Group LP grew its stake in Charles River Laboratories International by 2.3% during the 1st quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock valued at $320,336,000 after acquiring an additional 26,892 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Charles River Laboratories International by 0.5% in the 1st quarter. Earnest Partners LLC now owns 893,761 shares of the medical research company’s stock valued at $242,165,000 after purchasing an additional 4,393 shares during the period. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Down 1.7 %

Shares of Charles River Laboratories International stock opened at $187.98 on Friday. Charles River Laboratories International, Inc. has a 12-month low of $161.65 and a 12-month high of $275.00. The stock has a market capitalization of $9.68 billion, a P/E ratio of 22.12, a PEG ratio of 3.97 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of $210.24 and a two-hundred day moving average price of $227.64.

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 (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.41. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. Equities analysts expect that Charles River Laboratories International, Inc. will post 10.02 earnings per share for the current year.

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

Analysts Set New Price Targets

Several analysts recently commented on CRL shares. JPMorgan Chase & Co. cut shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $270.00 to $205.00 in a report on Thursday, August 8th. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a research note on Friday, June 28th. Barclays dropped their price target on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird cut Charles River Laboratories International from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $239.00 to $191.00 in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their target price on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $231.00.

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).