Primecap Management Co. CA Decreases Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Primecap Management Co. CA lessened its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 0.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,730 shares of the medical research company’s stock after selling 200 shares during the period. Primecap Management Co. CA owned 0.53% of Charles River Laboratories International worth $56,547,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Charles River Laboratories International by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 561,075 shares of the medical research company’s stock valued at $115,912,000 after purchasing an additional 93,682 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new stake in shares of Charles River Laboratories International in the 2nd quarter worth $122,000. WINTON GROUP Ltd purchased a new position in shares of Charles River Laboratories International during the 2nd quarter worth $434,000. Envestnet Asset Management Inc. boosted its position in shares of Charles River Laboratories International by 3.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 319,177 shares of the medical research company’s stock valued at $65,936,000 after acquiring an additional 11,514 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Charles River Laboratories International by 9.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 47,545 shares of the medical research company’s stock worth $9,822,000 after purchasing an additional 4,231 shares during the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. TD Cowen decreased their target price on shares of 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. Baird R W lowered Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. The Goldman Sachs Group decreased their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut Charles River Laboratories International from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $270.00 to $205.00 in a report on Thursday, August 8th. Finally, Argus restated a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Charles River Laboratories International presently has an average rating of “Hold” and an average target price of $231.00.

Charles River Laboratories International Price Performance

Charles River Laboratories International stock opened at $206.21 on Wednesday. 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 firm has a market cap of $10.62 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 3.89 and a beta of 1.36. The company’s 50 day moving average is $209.42 and its two-hundred day moving average is $225.08.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.41. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. On average, research analysts expect that Charles River Laboratories International, Inc. will post 10.01 EPS for the current fiscal year.

Charles River Laboratories International announced that its board has initiated a stock buyback program on Wednesday, August 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are 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).