Tortoise Investment Management LLC Buys 57 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Tortoise Investment Management LLC raised its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 77.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 131 shares of the medical research company’s stock after acquiring an additional 57 shares during the quarter. Tortoise Investment Management LLC’s holdings in Charles River Laboratories International were worth $27,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Charles River Laboratories International in the first quarter valued at about $41,000. VisionPoint Advisory Group LLC raised its stake in shares of Charles River Laboratories International by 45.1% during the fourth quarter. VisionPoint Advisory Group LLC now owns 209 shares of the medical research company’s stock worth $49,000 after buying an additional 65 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of 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 worth $52,000 after buying an additional 95 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Charles River Laboratories International by 1,072.7% during the first quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock worth $70,000 after buying an additional 236 shares during the last quarter. Finally, Concord Wealth Partners raised its stake in shares of Charles River Laboratories International by 362.5% during the first quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after buying an additional 203 shares during the last quarter. Institutional investors own 98.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Argus reaffirmed a “hold” rating on shares of Charles River Laboratories International in a research note on Friday, June 28th. StockNews.com upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group cut their price target on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays cut their price target on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Evercore ISI cut their target price on shares of Charles River Laboratories International from $265.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Charles River Laboratories International has an average rating of “Hold” and a consensus target price of $231.00.

Charles River Laboratories International Price Performance

Shares of NYSE CRL opened at $191.77 on Thursday. The stock’s 50-day simple moving average is $210.94 and its two-hundred day simple moving average is $228.30. 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 firm has a market capitalization of $9.90 billion, a P/E ratio of 22.56, a P/E/G ratio of 3.97 and a beta of 1.38. 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 announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.41. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. As a group, equities analysts anticipate that Charles River Laboratories International, Inc. will post 10.02 EPS for the current fiscal 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.

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).