1832 Asset Management L.P. Acquires New Position in Charles River Laboratories International, Inc. (NYSE:CRL)

1832 Asset Management L.P. bought a new position in Charles River Laboratories International, Inc. (NYSE:CRL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 160,000 shares of the medical research company’s stock, valued at approximately $33,053,000. 1832 Asset Management L.P. owned 0.31% of Charles River Laboratories International as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of CRL. APG Asset Management US Inc. purchased a new stake in shares of Charles River Laboratories International in the fourth quarter valued at $2,321,000. Boston Trust Walden Corp lifted its holdings in shares of Charles River Laboratories International by 2.8% during the 2nd quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company’s stock worth $41,381,000 after acquiring an additional 5,375 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Charles River Laboratories International by 5.1% during 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 acquiring an additional 2,739 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Charles River Laboratories International in the first quarter worth approximately $8,301,000. Finally, Natixis acquired a new position in Charles River Laboratories International during the first quarter worth approximately $1,058,000. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Charles River Laboratories International Trading Down 1.0 %

NYSE CRL opened at $203.83 on Tuesday. The company’s fifty day simple moving average is $209.09 and its 200-day simple moving average is $223.05. The stock has a market cap of $10.50 billion, a P/E ratio of 23.98, 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 company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.41. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. Equities 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 has initiated a stock repurchase program 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 repurchase up to 9.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRL. StockNews.com upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Barclays lowered their price target on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Evercore ISI cut their price objective on Charles River Laboratories International from $265.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. UBS Group decreased their target price on 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. Finally, Argus restated a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles River Laboratories International currently has an average rating of “Hold” and an average price target of $227.55.

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).