State Treasurer State of Michigan boosted its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,600 shares of the medical research company’s stock after buying an additional 400 shares during the period. State Treasurer State of Michigan’s holdings in Charles River Laboratories International were worth $1,983,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRL. Vanguard Group Inc. increased its position in shares of Charles River Laboratories International by 4.7% in the first quarter. Vanguard Group Inc. now owns 5,033,513 shares of the medical research company’s stock valued at $452,764,000 after buying an additional 225,563 shares in the last quarter. BlackRock Inc. increased its position in shares of Charles River Laboratories International by 12,573.1% in the first quarter. BlackRock Inc. now owns 3,845,643 shares of the medical research company’s stock valued at $345,915,000 after buying an additional 3,815,298 shares in the last quarter. FMR LLC increased its position in shares of Charles River Laboratories International by 39.7% in the first quarter. FMR LLC now owns 2,488,113 shares of the medical research company’s stock valued at $223,806,000 after buying an additional 707,612 shares in the last quarter. Ariel Investments LLC increased its position in shares of Charles River Laboratories International by 30.7% in the first quarter. Ariel Investments LLC now owns 2,060,420 shares of the medical research company’s stock valued at $185,335,000 after buying an additional 483,564 shares in the last quarter. Finally, State Street Corp increased its position in shares of Charles River Laboratories International by 1.1% in the first quarter. State Street Corp now owns 1,239,943 shares of the medical research company’s stock valued at $111,539,000 after buying an additional 13,759 shares in the last quarter. 95.81% of the stock is owned by institutional investors.

Shares of Charles River Laboratories International, Inc. (NYSE CRL) traded up 1.29% during trading on Friday, hitting $97.97. 499,107 shares of the stock were exchanged. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 25.82 and a beta of 1.02. Charles River Laboratories International, Inc. has a one year low of $67.20 and a one year high of $102.32. The stock’s 50 day moving average price is $99.80 and its 200-day moving average price is $91.67.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, August 9th. The medical research company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.07. The business had revenue of $469.13 million during the quarter, compared to analyst estimates of $458.25 million. Charles River Laboratories International had a net margin of 10.13% and a return on equity of 27.02%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. On average, analysts predict that Charles River Laboratories International, Inc. will post $5.10 EPS for the current year.

Charles River Laboratories International declared that its board has approved a share repurchase program on Wednesday, May 10th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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Several analysts have recently issued reports on CRL shares. Zacks Investment Research cut shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and set a $106.00 target price on shares of Charles River Laboratories International in a research report on Friday, April 21st. Citigroup Inc. restated a “neutral” rating and set a $104.00 target price (up from $90.00) on shares of Charles River Laboratories International in a research report on Thursday, May 11th. BidaskClub lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Barclays PLC reissued a “hold” rating and issued a $102.00 price objective on shares of Charles River Laboratories International in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Charles River Laboratories International currently has an average rating of “Hold” and a consensus price target of $96.94.

In related news, Chairman James C. Foster sold 43,154 shares of Charles River Laboratories International stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $4,315,400.00. Following the completion of the sale, the chairman now owns 361,178 shares in the company, valued at $36,117,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Ross Smith sold 945 shares of Charles River Laboratories International stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $95.00, for a total transaction of $89,775.00. Following the completion of the sale, the insider now owns 14,203 shares of the company’s stock, valued at approximately $1,349,285. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,369 shares of company stock valued at $7,846,412. Insiders own 2.20% of the company’s stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

Institutional Ownership by Quarter for Charles River Laboratories International (NYSE:CRL)

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