American Capital Management Inc Lowers stake in Charles River Laboratories (CRL)

Charles River Laboratories (CRL) : American Capital Management Inc reduced its stake in Charles River Laboratories by 1.27% during the most recent quarter end. The investment management company now holds a total of 148,150 shares of Charles River Laboratories which is valued at $12,734,974 after selling 1,900 shares in Charles River Laboratories , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Charles River Laboratories makes up approximately 1.02% of American Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Mutual Of America Capital Management boosted its stake in CRL in the latest quarter, The investment management firm added 2,528 additional shares and now holds a total of 34,507 shares of Charles River Laboratories which is valued at $2,966,222. Charles River Laboratories makes up approx 0.06% of Mutual Of America Capital Management’s portfolio.Checchi Capital Advisers boosted its stake in CRL in the latest quarter, The investment management firm added 27 additional shares and now holds a total of 190 shares of Charles River Laboratories which is valued at $16,488.Eagle Boston Investment Management Inc boosted its stake in CRL in the latest quarter, The investment management firm added 1,992 additional shares and now holds a total of 79,713 shares of Charles River Laboratories which is valued at $6,869,666. Charles River Laboratories makes up approx 0.90% of Eagle Boston Investment Management Inc’s portfolio. 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.Copper Rock Capital Partners reduced its stake in CRL by selling 69,665 shares or 22.45% in the most recent quarter. The Hedge Fund company now holds 240,615 shares of CRL which is valued at $20,736,201. Charles River Laboratories makes up approx 1.51% of Copper Rock Capital Partners’s portfolio.

Charles River Laboratories closed down -1.39 points or -1.62% at $84.33 with 3,70,969 shares getting traded on Monday. Post opening the session at $85.78, the shares hit an intraday low of $84.09 and an intraday high of $86.68 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Charles River Laboratories reported $1.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.10. The company had revenue of $434.10 million for the quarter, compared to analysts expectations of $424.98 million. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 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 .

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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