Edgestream Partners L.P. Takes $3.46 Million Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Edgestream Partners L.P. bought a new stake in Charles River Laboratories International, Inc. (NYSE:CRL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,725 shares of the medical research company’s stock, valued at approximately $3,455,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Czech National Bank lifted its position in shares of Charles River Laboratories International by 0.5% in the first quarter. Czech National Bank now owns 9,025 shares of the medical research company’s stock valued at $2,445,000 after acquiring an additional 41 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Charles River Laboratories International by 1.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 4,424 shares of the medical research company’s stock valued at $914,000 after acquiring an additional 45 shares in the last quarter. Tortoise Investment Management LLC lifted its position in shares of Charles River Laboratories International by 77.0% in the second 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 in the last quarter. Dumont & Blake Investment Advisors LLC lifted its position in shares of Charles River Laboratories International by 1.4% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,415 shares of the medical research company’s stock valued at $1,196,000 after acquiring an additional 62 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Charles River Laboratories International by 2.0% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 3,154 shares of the medical research company’s stock valued at $652,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Price Performance

CRL stock opened at $206.21 on Wednesday. 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 quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $209.42 and a two-hundred day moving average of $225.08. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 3.89 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last issued 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. 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 analysts’ expectations of $1.03 billion. As a group, research analysts anticipate that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current year.

Charles River Laboratories International announced that its Board of Directors has authorized a share 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 purchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently commented on CRL. Evercore ISI cut their price target 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. Robert W. Baird cut Charles River Laboratories International from an “outperform” rating to a “neutral” rating and cut their price target for the company from $239.00 to $191.00 in a report on Thursday, August 8th. JPMorgan Chase & Co. cut Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price target for the company from $270.00 to $205.00 in a report on Thursday, August 8th. The Goldman Sachs Group cut their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, 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 report on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Charles River Laboratories International presently has an average rating of “Hold” and an average price target of $231.00.

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).