Van Berkom Associates Lowers stake in Charles River Laboratories (CRL)

Charles River Laboratories (CRL) : Van Berkom Associates reduced its stake in Charles River Laboratories by 3.16% during the most recent quarter end. The investment management company now holds a total of 662,313 shares of Charles River Laboratories which is valued at $57,475,522 after selling 21,585 shares in Charles River Laboratories , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Charles River Laboratories makes up approximately 2.51% of Van Berkom Associates’s portfolio.

Other Hedge Funds, Including , Lasalle Street Capital Management added CRL to its portfolio by purchasing 2,612 company shares during the most recent quarter which is valued at $225,102. Charles River Laboratories makes up approx 0.21% of Lasalle Street Capital Management’s portfolio.First Quadrant L Pca boosted its stake in CRL in the latest quarter, The investment management firm added 60 additional shares and now holds a total of 188,143 shares of Charles River Laboratories which is valued at $16,214,164. Charles River Laboratories makes up approx 0.34% of First Quadrant L Pca’s portfolio. Fox Run Management L.l.c. added CRL to its portfolio by purchasing 9,200 company shares during the most recent quarter which is valued at $792,856. Charles River Laboratories makes up approx 0.37% of Fox Run Management L.l.c.’s portfolio. Highland Capital Management added CRL to its portfolio by purchasing 11,568 company shares during the most recent quarter which is valued at $996,930. Charles River Laboratories makes up approx 0.08% of Highland Capital Management’s portfolio. Creative Planning added CRL to its portfolio by purchasing 6 company shares during the most recent quarter which is valued at $510.

Charles River Laboratories opened for trading at $84.68 and hit $86.53 on the upside on Wednesday, eventually ending the session at $86.18, with a gain of 1.90% or 1.61 points. The heightened volatility saw the trading volume jump to 2,61,257 shares. Company has a market cap of $4,066 M.

On the company’s financial health, Charles River Laboratories reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.90. The company had revenue of $354.90 million for the quarter, compared to analysts expectations of $354.81 million. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.

Many Wall Street Analysts have commented on Charles River Laboratories. Credit Suisse Initiated Charles River Laboratories on Jun 21, 2016 to “Neutral”, Price Target of the shares are set at $84.Company shares were Reiterated by Barclays on May 20, 2016 to “Underweight”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .Gabelli & Co Initiated Charles River Laboratories on Apr 26, 2016 to “Buy”, Price Target of the shares are set at $96.

Charles River Laboratories International Inc. is a full service early stage contract research company. The Company offers research models for the research and development of new drugs devices and therapies. It develops a portfolio of discovery and safety assessment services both Good Laboratory Practice (GLP) and non-GLP that support the clients from target identification through preclinical development. The Company operates through three segments: Research Models and Services (RMS) which supplies research models to the drug development industry; Discovery and Safety Assessment (DSA) which provides services that enables the clients to outsource their drug discovery research critical regulatory-required safety assessment testing and related drug discovery and development activities and Manufacturing Support (Manufacturing) which is involved in the production and release of products manufactured by the clients.

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