JPMorgan Chase & Co. Sells 87,878 Shares of Charles River Laboratories International, Inc. (CRL)

JPMorgan Chase & Co. cut its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 33.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 178,629 shares of the medical research company’s stock after selling 87,878 shares during the quarter. JPMorgan Chase & Co. owned about 0.37% of Charles River Laboratories International worth $18,068,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CRL. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Charles River Laboratories International by 12.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,791 shares of the medical research company’s stock valued at $181,000 after acquiring an additional 202 shares during the last quarter. Cambridge Advisors Inc. bought a new position in Charles River Laboratories International in the second quarter valued at approximately $202,000. Advisor Partners LLC bought a new position in Charles River Laboratories International in the second quarter valued at approximately $208,000. Campbell & CO Investment Adviser LLC bought a new position in Charles River Laboratories International in the second quarter valued at approximately $217,000. Finally, MAI Capital Management bought a new position in Charles River Laboratories International in the first quarter valued at approximately $224,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Charles River Laboratories International, Inc. (NYSE:CRL) opened at 105.51 on Friday. Charles River Laboratories International, Inc. has a 12-month low of $67.20 and a 12-month high of $109.59. The firm has a 50-day moving average of $103.50 and a 200 day moving average of $95.67. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 27.80 and a beta of 0.99.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, August 9th. The medical research company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.07. Charles River Laboratories International had a net margin of 10.13% and a return on equity of 27.02%. The company had revenue of $469.13 million for the quarter, compared to analyst estimates of $458.25 million. During the same period in the prior year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Charles River Laboratories International, Inc. will post $5.10 earnings per share for the current year.

In other news, Chairman James C. Foster sold 9,516 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $98.92, for a total value of $941,322.72. Following the sale, the chairman now directly owns 361,171 shares of the company’s stock, valued at approximately $35,727,035.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Davide Molho sold 5,982 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $107.55, for a total transaction of $643,364.10. Following the completion of the sale, the insider now directly owns 22,714 shares in the company, valued at $2,442,890.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,880 shares of company stock worth $2,541,668. Insiders own 2.20% of the company’s stock.

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of Charles River Laboratories International in a research note on Tuesday. They issued a “sector perform” rating and a $110.00 price objective on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Charles River Laboratories International in a research note on Tuesday, September 12th. Robert W. Baird reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Charles River Laboratories International in a research note on Friday, September 1st. BidaskClub raised shares of Charles River Laboratories International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. Finally, Zacks Investment Research cut shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $99.59.

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Charles River Laboratories International Profile

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

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Institutional Ownership by Quarter for Charles River Laboratories International (NYSE:CRL)

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