Charles River Laboratories International, Inc. (NYSE:CRL) Short Interest Update

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 2,110,000 shares, a growth of 7.1% from the September 30th total of 1,970,000 shares. Based on an average trading volume of 744,300 shares, the short-interest ratio is presently 2.8 days.

Institutional Investors Weigh In On Charles River Laboratories International

Hedge funds have recently modified their holdings of the business. Boston Trust Walden Corp lifted its position in Charles River Laboratories International by 2.8% during the second quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company's stock valued at $41,381,000 after acquiring an additional 5,375 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Charles River Laboratories International by 5.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 56,840 shares of the medical research company's stock worth $15,401,000 after buying an additional 2,739 shares during the last quarter. Natixis acquired a new stake in shares of Charles River Laboratories International during the first quarter worth $1,058,000. Tidal Investments LLC grew its holdings in shares of Charles River Laboratories International by 99.8% during the first quarter. Tidal Investments LLC now owns 5,297 shares of the medical research company's stock valued at $1,435,000 after buying an additional 2,646 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Charles River Laboratories International by 2,733.4% during the first quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company's stock valued at $67,060,000 after buying an additional 238,766 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Trading Up 1.3 %

NYSE:CRL traded up $2.38 during mid-day trading on Friday, hitting $180.96. 830,099 shares of the stock traded hands, compared to its average volume of 605,613. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 6.22 and a beta of 1.36. Charles River Laboratories International has a 52 week low of $166.87 and a 52 week high of $275.00. The firm's 50 day moving average is $193.72 and its two-hundred day moving average is $209.45. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.39 by $0.41. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. On average, equities research analysts predict that Charles River Laboratories International will post 10.01 earnings per share for the current year.

Charles River Laboratories International announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CRL shares. Robert W. Baird cut their target price on shares of Charles River Laboratories International from $191.00 to $190.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Bank of America downgraded shares of Charles River Laboratories International from a "buy" rating to a "neutral" rating and cut their target price for the stock from $250.00 to $215.00 in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of Charles River Laboratories International from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. StockNews.com raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their price objective on shares of Charles River Laboratories International from $290.00 to $250.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $209.00.

Charles River Laboratories International Company 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).