Edgestream Partners L.P. Buys New Position in Charles River Laboratories International, Inc. (NYSE:CRL)

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

Other hedge funds also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC increased its position in Charles River Laboratories International by 77.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after buying an additional 57 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Charles River Laboratories International in the first quarter valued at about $41,000. Brown Brothers Harriman & Co. increased its holdings in shares of Charles River Laboratories International by 76.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 95 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Charles River Laboratories International by 1,072.7% in the first quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 236 shares during the period. Finally, Concord Wealth Partners increased its holdings in shares of Charles River Laboratories International by 362.5% in the first quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 203 shares during the period. 98.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CRL shares. JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $270.00 to $205.00 in a report on Thursday, August 8th. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. Mizuho started coverage on Charles River Laboratories International in a report on Friday, June 7th. They issued a “neutral” rating and a $235.00 price objective on the stock. TD Cowen cut their price objective on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Finally, StockNews.com raised Charles River Laboratories International from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. 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.com, Charles River Laboratories International presently has a consensus rating of “Hold” and an average target price of $231.00.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $206.21 on Wednesday. The company has a market capitalization of $10.62 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.89 and a beta of 1.36. The business’s 50 day moving average is $209.42 and its two-hundred day moving average is $225.08. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. 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 issued its quarterly 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. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. Analysts expect that Charles River Laboratories International, Inc. will post 10.01 EPS for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management 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).