Anchor Capital Advisors LLC Decreases Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Anchor Capital Advisors LLC trimmed its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,462 shares of the medical research company’s stock after selling 4,599 shares during the quarter. Anchor Capital Advisors LLC owned 0.20% of Charles River Laboratories International worth $20,960,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CRL. Vanguard Group Inc. increased its holdings in Charles River Laboratories International by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock worth $1,638,290,000 after purchasing an additional 66,161 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Charles River Laboratories International by 3.1% in the first quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock worth $409,985,000 after buying an additional 45,079 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Charles River Laboratories International by 11.9% in 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 during the last quarter. Meritage Group LP raised its holdings in Charles River Laboratories International by 2.3% in the first quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock valued at $320,336,000 after acquiring an additional 26,892 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in Charles River Laboratories International by 0.5% during the 1st quarter. Earnest Partners LLC now owns 893,761 shares of the medical research company’s stock valued at $242,165,000 after acquiring an additional 4,393 shares during the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Stock Performance

Shares of CRL opened at $187.96 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. Charles River Laboratories International, Inc. has a 1 year low of $161.65 and a 1 year high of $275.00. The firm has a fifty day moving average of $210.24 and a 200-day moving average of $227.56. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 3.97 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. As a group, equities analysts anticipate that Charles River Laboratories International, Inc. will post 10.02 earnings per share for the current year.

Charles River Laboratories International announced that its board has approved a stock repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRL. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. JPMorgan Chase & Co. cut Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $270.00 to $205.00 in a research note on Thursday, August 8th. Barclays decreased their target price on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group dropped 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 report on Thursday, August 8th. Finally, TD Cowen reduced their price objective on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating and five 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 target price of $231.00.

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).