MQS Management LLC Takes Position in Charles River Laboratories International, Inc. (NYSE:CRL)

MQS Management LLC bought a new stake in Charles River Laboratories International, Inc. (NYSE:CRL) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,561 shares of the medical research company’s stock, valued at approximately $322,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Charles River Laboratories International by 1.1% during the first quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock valued at $1,638,290,000 after acquiring an additional 66,161 shares in the last quarter. Clearbridge Investments LLC increased its stake in Charles River Laboratories International by 3.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock valued at $409,985,000 after purchasing an additional 45,079 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Charles River Laboratories International by 11.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock valued at $258,559,000 after buying an additional 132,802 shares in the last quarter. Meritage Group LP lifted its stake in shares of Charles River Laboratories International by 2.3% in the first quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock valued at $320,336,000 after buying an additional 26,892 shares in the last quarter. Finally, Earnest Partners LLC increased its position in shares of Charles River Laboratories International by 0.5% during the first quarter. Earnest Partners LLC now owns 893,761 shares of the medical research company’s stock worth $242,165,000 after acquiring an additional 4,393 shares in the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CRL shares. TD Cowen cut their price target on 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. UBS Group cut their target price on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. StockNews.com upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Baird R W lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lowered their target price on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Charles River Laboratories International currently has an average rating of “Hold” and a consensus target price of $230.93.

Charles River Laboratories International Trading Down 1.8 %

Shares of CRL stock opened at $205.79 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. The firm has a market cap of $10.60 billion, a P/E ratio of 24.21, a PEG ratio of 3.89 and a beta of 1.36. The company has a 50 day moving average of $209.55 and a 200-day moving average of $224.43. Charles River Laboratories International, Inc. has a 12-month low of $161.65 and a 12-month 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Sell-side analysts anticipate 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 authorized a share repurchase program on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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).