Fifth Third Bancorp Acquires 2,055 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Fifth Third Bancorp grew its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 16.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,741 shares of the medical research company’s stock after buying an additional 2,055 shares during the quarter. Fifth Third Bancorp’s holdings in Charles River Laboratories International were worth $3,045,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. APG Asset Management US Inc. bought a new position in shares of Charles River Laboratories International during the fourth quarter valued at approximately $2,321,000. Norges Bank bought a new position in Charles River Laboratories International in the fourth quarter worth approximately $101,319,000. abrdn plc grew its stake in Charles River Laboratories International by 872.0% in the fourth quarter. abrdn plc now owns 121,807 shares of the medical research company’s stock worth $28,795,000 after purchasing an additional 109,275 shares in the last quarter. Boston Trust Walden Corp grew its stake in Charles River Laboratories International by 2.8% in the second quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company’s stock worth $41,381,000 after purchasing an additional 5,375 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Charles River Laboratories International by 30.8% in the fourth quarter. Principal Financial Group Inc. now owns 152,537 shares of the medical research company’s stock worth $36,060,000 after purchasing an additional 35,921 shares in the last quarter. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Up 0.9 %

Shares of Charles River Laboratories International stock traded up $1.76 during trading on Wednesday, reaching $204.26. The company’s stock had a trading volume of 563,193 shares, compared to its average volume of 589,324. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.73. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 2.32 and a beta of 1.38. Charles River Laboratories International, Inc. has a 1-year low of $161.65 and a 1-year high of $275.00. The company has a 50-day simple moving average of $213.22 and a two-hundred day simple moving average of $230.50.

Charles River Laboratories International announced that its board has authorized a share buyback program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Mizuho assumed coverage on Charles River Laboratories International in a research note on Friday, June 7th. They issued a “neutral” rating and a $235.00 price objective on the stock. Robert W. Baird cut Charles River Laboratories International from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $239.00 to $191.00 in a research note on Thursday, August 8th. Baird R W cut Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Evercore ISI lowered their target price 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. Finally, The Goldman Sachs Group lowered their target price 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. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $231.00.

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).