Clear Harbor Asset Management LLC Purchases New Shares in Charles River Laboratories International, Inc. (NYSE:CRL)

Clear Harbor Asset Management LLC acquired a new position in Charles River Laboratories International, Inc. (NYSE:CRL) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,250 shares of the medical research company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tortoise Investment Management LLC increased its stake in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after acquiring an additional 57 shares in the last quarter. Wolff Wiese Magana LLC purchased a new position in shares of Charles River Laboratories International during the third quarter valued at approximately $32,000. Headlands Technologies LLC bought a new stake in shares of Charles River Laboratories International in the 1st quarter worth approximately $41,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after buying an additional 193 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in Charles River Laboratories International by 1,072.7% during the 1st quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock valued at $70,000 after buying an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Price Performance

Shares of NYSE:CRL opened at $182.12 on Monday. 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 stock has a market capitalization of $9.38 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36. The firm’s 50 day moving average price is $195.84 and its 200-day moving average price is $211.08. Charles River Laboratories International, Inc. has a twelve month low of $161.65 and a twelve month high of $275.00.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.03 billion. Equities research analysts expect that Charles River Laboratories International, Inc. will post 10.01 EPS for the current year.

Charles River Laboratories International declared that its board has approved a stock repurchase program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRL. Evercore ISI downgraded Charles River Laboratories International from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $225.00 to $190.00 in a report on Monday, October 7th. Barclays cut their price objective on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. CLSA began coverage on shares of Charles River Laboratories International in a report on Wednesday, October 23rd. They issued an “underperform” rating and a $167.00 target price for the company. UBS Group dropped their target price on shares of 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. Finally, Robert W. Baird decreased their price objective on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $209.00.

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).