Cardinal Capital Management Grows Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Cardinal Capital Management increased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 3.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,504 shares of the medical research company’s stock after purchasing an additional 312 shares during the period. Cardinal Capital Management’s holdings in Charles River Laboratories International were worth $2,069,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CRL. Vanguard Group Inc. raised its stake in shares of Charles River Laboratories International by 1.1% in the first quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock valued at $1,638,290,000 after acquiring an additional 66,161 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Charles River Laboratories International by 1.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock valued at $394,359,000 after purchasing an additional 31,359 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Charles River Laboratories International by 3.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock valued at $409,985,000 after buying an additional 45,079 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Charles River Laboratories International by 11.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock worth $258,559,000 after buying an additional 132,802 shares in the last quarter. Finally, Meritage Group LP increased its stake in shares of Charles River Laboratories International by 2.3% during the first quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock worth $320,336,000 after buying an additional 26,892 shares during the period. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRL. TD Cowen decreased their price target on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. cut shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. The Goldman Sachs Group dropped their target price on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Evercore ISI downgraded Charles River Laboratories International from an “outperform” rating to an “inline” rating and decreased their price target for the stock from $225.00 to $190.00 in a report on Monday, October 7th. Finally, UBS Group lowered their price objective on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $212.23.

Charles River Laboratories International Trading Up 1.3 %

CRL opened at $197.69 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. Charles River Laboratories International, Inc. has a 52 week low of $161.65 and a 52 week high of $275.00. The business’s 50 day moving average is $197.26 and its two-hundred day moving average is $214.56. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 5.11 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 (EPS) 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 company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. On average, research analysts predict that Charles River Laboratories International, Inc. will post 10.01 EPS for the current year.

Charles River Laboratories International declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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).