Burgundy Asset Management Ltd. Buys 277,450 Shares of Charles River Laboratories International, Inc. $CRL

Burgundy Asset Management Ltd. grew its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 10,200.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 280,170 shares of the medical research company’s stock after acquiring an additional 277,450 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.57% of Charles River Laboratories International worth $42,510,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Brooklyn Investment Group grew its stake in Charles River Laboratories International by 93.5% in the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in shares of Charles River Laboratories International by 542.9% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company’s stock valued at $27,000 after buying an additional 152 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Charles River Laboratories International in the 2nd quarter worth approximately $29,000. Allworth Financial LP raised its stake in shares of Charles River Laboratories International by 172.7% during the 2nd quarter. Allworth Financial LP now owns 300 shares of the medical research company’s stock worth $45,000 after acquiring an additional 190 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Charles River Laboratories International during the second quarter valued at approximately $56,000. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Performance

Shares of CRL stock opened at $184.49 on Friday. The business has a fifty day moving average of $174.84 and a 200 day moving average of $161.56. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $202.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.10. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of -118.26, a price-to-earnings-growth ratio of 6.52 and a beta of 1.63.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, November 5th. The medical research company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.11. Charles River Laboratories International had a positive return on equity of 15.78% and a negative net margin of 2.07%.The business had revenue of $1 billion for the quarter, compared to analyst estimates of $990.43 million. During the same period in the prior year, the company earned $2.59 earnings per share. The company’s revenue was down .5% on a year-over-year basis. As a group, research analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Wall Street Analyst Weigh In

CRL has been the topic of several analyst reports. Argus set a $200.00 price target on shares of Charles River Laboratories International in a report on Monday, November 17th. Morgan Stanley set a $185.00 price objective on Charles River Laboratories International in a research report on Monday, December 1st. Robert W. Baird upgraded Charles River Laboratories International from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $178.00 to $199.00 in a research note on Thursday, November 6th. Jefferies Financial Group upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating and increased their price target for the company from $142.00 to $195.00 in a research note on Tuesday, September 9th. Finally, TD Cowen dropped their price target on Charles River Laboratories International from $205.00 to $197.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Charles River Laboratories International has an average rating of “Moderate Buy” and an average price target of $190.86.

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).