Acadian Asset Management LLC Takes Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Acadian Asset Management LLC acquired a new position in Charles River Laboratories International, Inc. (NYSE:CRL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 535 shares of the medical research company’s stock, valued at approximately $110,000.

Several other institutional investors also recently bought and sold shares of the company. Tortoise Investment Management LLC increased its holdings in Charles River Laboratories International by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after buying an additional 57 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Charles River Laboratories International during the 1st quarter worth $41,000. Brown Brothers Harriman & Co. grew its stake in Charles River Laboratories International by 76.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 95 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Charles River Laboratories International by 219.3% during the second 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, Concord Wealth Partners raised its stake in shares of Charles River Laboratories International by 362.5% during the 1st quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after acquiring an additional 203 shares in the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Down 1.8 %

Shares of CRL opened at $205.79 on Friday. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.89 and a beta of 1.36. Charles River Laboratories International, Inc. has a 52 week low of $161.65 and a 52 week high of $275.00. The stock’s 50-day moving average price is $209.34 and its 200-day moving average price is $223.80. 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 released its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.39 by $0.41. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, sell-side analysts predict that Charles River Laboratories International, Inc. will post 10.01 EPS for the current year.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CRL shares. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. TD Cowen decreased their price target on 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. Robert W. Baird cut their price objective 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. UBS Group dropped their target price on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com raised shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $230.93.

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).