Globeflex Capital L P Lowers stake in Charles River Laboratories (CRL)

Charles River Laboratories (CRL) : Globeflex Capital L P reduced its stake in Charles River Laboratories by 0.65% during the most recent quarter end. The investment management company now holds a total of 41,307 shares of Charles River Laboratories which is valued at $3,341,323 after selling 272 shares in Charles River Laboratories , the firm said in a disclosure report filed with the SEC on May 3, 2016.Charles River Laboratories makes up approximately 0.91% of Globeflex Capital L P’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan boosted its stake in CRL in the latest quarter, The investment management firm added 590 additional shares and now holds a total of 15,570 shares of Charles River Laboratories which is valued at $1,259,457. Charles River Laboratories makes up approx 0.08% of Municipal Employees’ Retirement System Of Michigan’s portfolio. Checchi Capital Advisers added CRL to its portfolio by purchasing 163 company shares during the most recent quarter which is valued at $13,185.Retirement Systems Of Alabama boosted its stake in CRL in the latest quarter, The investment management firm added 332 additional shares and now holds a total of 60,241 shares of Charles River Laboratories which is valued at $4,775,304. Charles River Laboratories makes up approx 0.03% of Retirement Systems Of Alabama’s portfolio.Glenmede Trust Co Na boosted its stake in CRL in the latest quarter, The investment management firm added 160 additional shares and now holds a total of 45,799 shares of Charles River Laboratories which is valued at $3,630,487. Charles River Laboratories makes up approx 0.02% of Glenmede Trust Co Na’s portfolio.First Citizens Bank Trust Co boosted its stake in CRL in the latest quarter, The investment management firm added 2,849 additional shares and now holds a total of 5,663 shares of Charles River Laboratories which is valued at $458,646. Charles River Laboratories makes up approx 0.04% of First Citizens Bank Trust Co’s portfolio.

Charles River Laboratories opened for trading at $83.24 and hit $84.07 on the upside on Tuesday, eventually ending the session at $84.01, with a gain of 1.20% or 1 points. The heightened volatility saw the trading volume jump to 5,59,999 shares. Company has a market cap of $3,963 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. 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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