Kayne Anderson Rudnick Investment Management LLC Boosts Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Kayne Anderson Rudnick Investment Management LLC raised its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,908,989 shares of the medical research company’s stock after purchasing an additional 31,359 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 3.71% of Charles River Laboratories International worth $394,359,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Charles River Laboratories International by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock valued at $1,638,290,000 after buying an additional 66,161 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Charles River Laboratories International by 3.1% in 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 acquiring an additional 45,079 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 valued at $258,559,000 after acquiring an additional 132,802 shares in the last quarter. Meritage Group LP increased its stake in shares of Charles River Laboratories International by 2.3% during the first quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock worth $320,336,000 after acquiring an additional 26,892 shares during the period. Finally, Earnest Partners LLC raised its holdings in Charles River Laboratories International by 0.5% during the first quarter. Earnest Partners LLC now owns 893,761 shares of the medical research company’s stock worth $242,165,000 after purchasing an additional 4,393 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Stock Performance

Shares of CRL opened at $205.79 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 cap of $10.60 billion, a P/E ratio of 24.21, a PEG ratio of 3.89 and a beta of 1.36. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $209.34 and a two-hundred day moving average of $224.06.

Charles River Laboratories International (NYSE:CRL) last issued 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 firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. As a group, research analysts predict 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 initiated a stock buyback plan 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 repurchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have issued reports on CRL shares. Barclays dropped their target price on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group dropped their price objective on 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. Mizuho started coverage on Charles River Laboratories International in a report on Friday, June 7th. They issued a “neutral” rating and a $235.00 target price for the company. TD Cowen lowered 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 note on Monday, August 12th. Finally, Evercore ISI cut their price target on shares of Charles River Laboratories International from $265.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Charles River Laboratories International currently has an average rating of “Hold” and an average target price of $230.93.

Charles River Laboratories International Company 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).