Brown Brothers Harriman & Co. Sells 95 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Brown Brothers Harriman & Co. lessened its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 43.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125 shares of the medical research company’s stock after selling 95 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Charles River Laboratories International were worth $26,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CRL. APG Asset Management US Inc. bought a new stake in Charles River Laboratories International in the 4th quarter worth approximately $2,321,000. Norges Bank bought a new stake in Charles River Laboratories International in the 4th quarter worth approximately $101,319,000. Boston Trust Walden Corp lifted its position in Charles River Laboratories International by 2.8% in the 2nd 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 during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Charles River Laboratories International by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 56,840 shares of the medical research company’s stock worth $15,401,000 after buying an additional 2,739 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Charles River Laboratories International in the 1st quarter worth approximately $8,301,000. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Price Performance

CRL opened at $209.42 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. Charles River Laboratories International, Inc. has a 52-week low of $161.65 and a 52-week high of $275.00. The stock has a market capitalization of $10.79 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 3.89 and a beta of 1.36. The stock’s 50 day moving average price is $209.57 and its 200-day moving average price is $224.53.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, beating 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 company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, equities research 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 authorized a stock buyback plan on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

CRL has been the subject of a number of recent research reports. Mizuho initiated coverage on Charles River Laboratories International in a research report on Friday, June 7th. They issued a “neutral” rating and a $235.00 target price for the company. The Goldman Sachs Group decreased their price target 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. TD Cowen decreased 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. UBS Group decreased their price target on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Barclays decreased their price target on 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. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Charles River Laboratories International 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).