King Luther Capital Management Corp Reduces Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

King Luther Capital Management Corp lessened its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 9.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 318,346 shares of the medical research company’s stock after selling 32,859 shares during the quarter. King Luther Capital Management Corp owned about 0.62% of Charles River Laboratories International worth $65,764,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. APG Asset Management US Inc. acquired a new stake in shares of Charles River Laboratories International during the fourth quarter valued at $2,321,000. Norges Bank acquired a new stake in shares of Charles River Laboratories International during the 4th quarter worth about $101,319,000. Boston Trust Walden Corp grew its holdings in shares of Charles River Laboratories International by 2.8% during the second 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 raised its position in shares of Charles River Laboratories International by 5.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 56,840 shares of the medical research company’s stock valued at $15,401,000 after buying an additional 2,739 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Charles River Laboratories International during the first quarter valued at approximately $8,301,000. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Analyst Ratings Changes

CRL has been the subject of several recent analyst reports. Baird R W cut shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. StockNews.com upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Mizuho assumed coverage on Charles River Laboratories International in a research report on Friday, June 7th. They set a “neutral” rating and a $235.00 target price on the stock. Barclays lowered their price target 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. Finally, TD Cowen dropped their price objective on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Charles River Laboratories International presently has an average rating of “Hold” and a consensus price target of $231.00.

Charles River Laboratories International Price Performance

CRL opened at $209.42 on Friday. Charles River Laboratories International, Inc. has a 52-week low of $161.65 and a 52-week high of $275.00. The company has a 50 day moving average of $209.57 and a two-hundred day moving average of $224.53. The company has a market cap of $10.79 billion, a P/E ratio of 24.64, a P/E/G ratio of 3.89 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.

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 for the quarter, topping analysts’ consensus estimates of $2.39 by $0.41. The firm had revenue of $1.03 billion during 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%. On average, analysts expect that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current year.

Charles River Laboratories International declared that its board has approved a stock repurchase program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase 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 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).