Malaga Cove Capital LLC Grows Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Malaga Cove Capital LLC raised its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 18.1% during the second quarter, HoldingsChannel reports. The fund owned 3,856 shares of the medical research company’s stock after purchasing an additional 591 shares during the quarter. Malaga Cove Capital LLC’s holdings in Charles River Laboratories International were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tortoise Investment Management LLC lifted its holdings 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 worth $27,000 after purchasing an additional 57 shares in the last quarter. Headlands Technologies LLC purchased a new position in Charles River Laboratories International during the first quarter valued at approximately $41,000. Brown Brothers Harriman & Co. grew its stake in Charles River Laboratories International by 76.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 95 shares in the last quarter. Sunbelt Securities Inc. increased its holdings 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 worth $70,000 after acquiring an additional 236 shares during the period. Finally, Concord Wealth Partners lifted its stake in Charles River Laboratories International by 362.5% in the 1st quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after purchasing an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Analyst Upgrades and Downgrades

CRL has been the subject of a number of recent analyst reports. Evercore ISI reduced their price target on shares of Charles River Laboratories International from $265.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group dropped their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research report 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 for the company in a report on Thursday, August 8th. Finally, TD Cowen dropped their target price on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles River Laboratories International has an average rating of “Hold” and a consensus target price of $231.00.

Charles River Laboratories International Stock Up 0.1 %

Shares of NYSE:CRL opened at $188.16 on Tuesday. The stock’s 50-day moving average is $209.94 and its 200 day moving average is $227.06. The company has a market cap of $9.69 billion, a PE ratio of 22.14, a P/E/G ratio of 3.77 and a beta of 1.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. Charles River Laboratories International, Inc. has a 1 year low of $161.65 and a 1 year high of $275.00.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.41. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 10.02 EPS for the current year.

Charles River Laboratories International announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback plans are often 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).