Charles River Laboratories International, Inc. (NYSE:CRL) Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 13.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,451 shares of the medical research company’s stock after buying an additional 6,011 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.10% of Charles River Laboratories International worth $10,422,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tortoise Investment Management LLC lifted its holdings in shares of Charles River Laboratories International by 77.0% in the 2nd 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 acquired a new stake in Charles River Laboratories International during the first quarter valued at $41,000. Brown Brothers Harriman & Co. increased its holdings 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 buying an additional 95 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after acquiring an additional 193 shares during the period. Finally, Concord Wealth Partners boosted 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. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRL. JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. UBS Group decreased their price objective on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a research note on Friday, June 28th. Mizuho assumed coverage on Charles River Laboratories International in a report on Friday, June 7th. They issued a “neutral” rating and a $235.00 price objective on the stock. Finally, Citigroup cut Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their target price for the company from $215.00 to $175.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $220.73.

Charles River Laboratories International Trading Down 1.5 %

Shares of CRL stock opened at $194.09 on Wednesday. Charles River Laboratories International, Inc. has a twelve month low of $161.65 and a twelve month high of $275.00. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 4.09 and a beta of 1.36. The company’s 50-day moving average price is $206.01 and its 200-day moving average price is $220.28. 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 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. The business 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%. As a group, equities analysts predict that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current year.

Charles River Laboratories International declared that its Board of Directors has approved a stock buyback plan 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 buy up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

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).