Putnam Fl Investment Management Co Lowers stake in Charles River Laboratories (CRL)

Charles River Laboratories (CRL) : Putnam Fl Investment Management Co reduced its stake in Charles River Laboratories by 0.62% during the most recent quarter end. The investment management company now holds a total of 230,641 shares of Charles River Laboratories which is valued at $18,578,133 after selling 1,433 shares in Charles River Laboratories , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Charles River Laboratories makes up approximately 2.15% of Putnam Fl Investment Management Co’s portfolio.

Other Hedge Funds, Including , Eagle Boston Investment Management Inc boosted its stake in CRL in the latest quarter, The investment management firm added 643 additional shares and now holds a total of 80,356 shares of Charles River Laboratories which is valued at $6,558,657. Charles River Laboratories makes up approx 0.85% of Eagle Boston Investment Management Inc’s portfolio.Legal General Group Plc boosted its stake in CRL in the latest quarter, The investment management firm added 723 additional shares and now holds a total of 6,200 shares of Charles River Laboratories which is valued at $506,044.Weaver C. Barksdale Associates boosted its stake in CRL in the latest quarter, The investment management firm added 17 additional shares and now holds a total of 89 shares of Charles River Laboratories which is valued at $7,264. Charles River Laboratories makes up approx 0.01% of Weaver C. Barksdale Associates’s portfolio.Capstone Asset Management Co reduced its stake in CRL by selling 250 shares or 2.54% in the most recent quarter. The Hedge Fund company now holds 9,592 shares of CRL which is valued at $782,899. Charles River Laboratories makes up approx 0.02% of Capstone Asset Management Co’s portfolio.

Charles River Laboratories closed down -0.36 points or -0.44% at $80.55 with 2,13,545 shares getting traded on Friday. Post opening the session at $81.18, the shares hit an intraday low of $80.43 and an intraday high of $81.56 and the price fluctuated in this range throughout the day.Shares ended Friday 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. Shares were Downgraded by UBS on Sep 6, 2016 to ” Sell” and Lowered the Price Target to $ 78 from a previous price target of $83 .

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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