State of Alaska Department of Revenue Buys 405 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

State of Alaska Department of Revenue lifted its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 2.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 15,899 shares of the medical research company’s stock after acquiring an additional 405 shares during the period. State of Alaska Department of Revenue’s holdings in Charles River Laboratories International were worth $3,131,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CRL. Tortoise Investment Management LLC raised its position in 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 purchasing an additional 57 shares during the period. Headlands Technologies LLC purchased a new position in Charles River Laboratories International in the 1st quarter worth $41,000. Wolff Wiese Magana LLC purchased a new position in Charles River Laboratories International in the 3rd quarter worth $32,000. Whittier Trust Co. of Nevada Inc. raised its position in 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 purchasing an additional 193 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Charles River Laboratories International in the 3rd quarter worth $79,000. 98.91% of the stock is owned by institutional investors.

Charles River Laboratories International Price Performance

Shares of NYSE CRL opened at $181.39 on Thursday. Charles River Laboratories International, Inc. has a 1 year low of $161.65 and a 1 year high of $275.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. The company’s 50-day moving average is $194.66 and its 200 day moving average is $210.05. The stock has a market capitalization of $9.37 billion, a P/E ratio of 21.72, a P/E/G ratio of 5.11 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results 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. 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 analysts’ expectations of $1.03 billion. On average, sell-side analysts expect that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current year.

Charles River Laboratories International announced that its board has approved a stock 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 buy up to 9.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays decreased their target price 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 assumed coverage on shares of Charles River Laboratories International in a research report on Wednesday, October 23rd. They issued an “underperform” rating and a $167.00 target price on the stock. StockNews.com upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their price objective on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen decreased their price objective on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International has an average rating of “Hold” and a consensus price target of $209.00.

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).