Charles River Laboratories International, Inc. (NYSE:CRL) Stock Holdings Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,818 shares of the medical research company’s stock after purchasing an additional 141 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Charles River Laboratories International were worth $1,146,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in 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 buying an additional 66,161 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Charles River Laboratories International by 1.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock valued at $394,359,000 after acquiring an additional 31,359 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of 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 acquiring an additional 45,079 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Charles River Laboratories International by 11.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock worth $258,559,000 after purchasing an additional 132,802 shares during the last quarter. Finally, Meritage Group LP boosted its holdings in 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 worth $320,336,000 after purchasing an additional 26,892 shares during the period. Institutional investors own 98.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CRL shares. Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $215.00 in a report on Wednesday, October 2nd. Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They set a “sell” rating and a $151.00 price objective for the company. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. Evercore ISI lowered Charles River Laboratories International from an “outperform” rating to an “inline” rating and lowered their target price for the company from $225.00 to $190.00 in a report on Monday, October 7th. Finally, StockNews.com raised Charles River Laboratories International from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Charles River Laboratories International currently has an average rating of “Hold” and a consensus price target of $212.23.

Charles River Laboratories International Stock Performance

CRL stock opened at $185.87 on Wednesday. The company has a market capitalization of $9.57 billion, a P/E ratio of 21.87, a PEG ratio of 5.11 and a beta of 1.36. 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 company has a 50-day simple moving average of $197.22 and a 200 day simple moving average of $213.02. Charles River Laboratories International, Inc. has a fifty-two week low of $161.65 and a fifty-two week high of $275.00.

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 (EPS) for the quarter, beating 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 business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Sell-side 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 of Directors has authorized a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Charles River Laboratories International 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).