Charles River Laboratories International (NYSE:CRL) Given New $203.00 Price Target at TD Cowen

Charles River Laboratories International (NYSE:CRL) had its target price lowered by TD Cowen from $228.00 to $203.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a hold rating on the medical research company’s stock.

A number of other analysts also recently commented on the company. Evercore ISI dropped their price objective 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. UBS Group cut their price target on Charles River Laboratories International from $290.00 to $240.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Barclays cut their price objective on Charles River Laboratories International from $230.00 to $210.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Baird R W lowered shares of Charles River Laboratories International from a strong-buy rating to a hold rating in a report on Thursday, August 8th. Finally, StockNews.com upgraded Charles River Laboratories International from a hold rating to a buy rating in a research note on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $231.00.

Charles River Laboratories International Trading Up 1.8 %

Charles River Laboratories International stock opened at $202.22 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.73. The stock has a market cap of $10.42 billion, a PE ratio of 23.79, a P/E/G ratio of 2.32 and a beta of 1.38. The stock has a 50-day moving average price of $213.84 and a 200 day moving average price of $230.73. Charles River Laboratories International has a 52 week low of $161.65 and a 52 week high of $275.00.

Charles River Laboratories International declared that its board has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Charles River Laboratories International

Several hedge funds have recently added to or reduced their stakes in CRL. Norges Bank bought a new stake in shares of Charles River Laboratories International in the 4th quarter valued at about $101,319,000. Point72 Asset Management L.P. lifted its stake in shares of Charles River Laboratories International by 499.1% in the 4th quarter. Point72 Asset Management L.P. now owns 368,984 shares of the medical research company’s stock valued at $87,228,000 after acquiring an additional 307,398 shares during the last quarter. Meritage Group LP raised its position in Charles River Laboratories International by 30.8% in the fourth quarter. Meritage Group LP now owns 1,155,376 shares of the medical research company’s stock valued at $273,131,000 after purchasing an additional 271,743 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Charles River Laboratories International by 2,733.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock worth $67,060,000 after buying an additional 238,766 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Charles River Laboratories International by 5,003.9% during the fourth quarter. KBC Group NV now owns 215,639 shares of the medical research company’s stock worth $50,977,000 after purchasing an additional 211,414 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

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).