E. Ohman J or Asset Management AB Makes New $158,000 Investment in Charles River Laboratories International, Inc. (NYSE:CRL)

E. Ohman J or Asset Management AB bought a new position in Charles River Laboratories International, Inc. (NYSE:CRL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 800 shares of the medical research company’s stock, valued at approximately $158,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tortoise Investment Management LLC increased its stake in shares of 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. Wolff Wiese Magana LLC purchased a new position in shares of Charles River Laboratories International during the third quarter valued at $32,000. Headlands Technologies LLC purchased a new position in shares of Charles River Laboratories International during the first quarter valued at $41,000. Whittier Trust Co. of Nevada Inc. increased its stake 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 period. Finally, Sunbelt Securities Inc. increased its stake in shares of Charles River Laboratories International by 1,072.7% during the first 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.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $182.12 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. The business has a fifty day moving average of $195.84 and a 200 day moving average of $211.33. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36. Charles River Laboratories International, Inc. has a 1 year low of $161.65 and a 1 year high of $275.00.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, August 7th. The medical research company reported $2.80 EPS 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 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 expect that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current year.

Charles River Laboratories International announced that its board has authorized a share buyback 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 reacquire up to 9.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

CRL has been the topic of several research reports. TD Cowen cut their price target on 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. Bank of America lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $215.00 in a research note on Wednesday, October 2nd. CLSA initiated coverage on Charles River Laboratories International in a research note on Wednesday. They issued an “underperform” rating and a $167.00 target price on the stock. StockNews.com upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Redburn Atlantic initiated coverage on Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $209.00.

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).