Charles River Laboratories International, Inc. (NYSE:CRL) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 27.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,475 shares of the medical research company’s stock after purchasing an additional 21,221 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of Charles River Laboratories International worth $20,356,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC lifted its position in shares of Charles River Laboratories International by 77.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 57 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Charles River Laboratories International during the first quarter worth $41,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Charles River Laboratories International by 76.0% during 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. boosted its position in shares of Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 193 shares during the period. Finally, Concord Wealth Partners increased its stake in Charles River Laboratories International by 362.5% in the 1st quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after purchasing an additional 203 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Trading Down 1.8 %

Shares of NYSE CRL opened at $205.79 on Friday. The business has a 50 day simple moving average of $209.34 and a 200 day simple moving average of $223.80. 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 cap of $10.60 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.89 and a beta of 1.36. 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 (NYSE:CRL) last posted its earnings results 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 net margin of 10.83% and a return on equity of 14.96%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. On average, research analysts predict that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its board has initiated a stock repurchase program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group decreased their target price on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, August 8th. TD Cowen decreased 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. The Goldman Sachs Group cut their target price on shares of 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. Evercore ISI reduced their target price on 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. Finally, Barclays lowered 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 report on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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).