Spark Investment Management LLC Raises Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Spark Investment Management LLC raised its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 18.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 88,200 shares of the medical research company’s stock after buying an additional 13,500 shares during the period. Spark Investment Management LLC owned approximately 0.19% of Charles River Laboratories International worth $8,921,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRL. Great West Life Assurance Co. Can boosted its position in shares of Charles River Laboratories International by 0.7% in the second quarter. Great West Life Assurance Co. Can now owns 40,296 shares of the medical research company’s stock worth $4,071,000 after buying an additional 271 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Charles River Laboratories International during the second quarter worth approximately $217,000. ING Groep NV purchased a new position in shares of Charles River Laboratories International during the second quarter worth approximately $586,000. Cambridge Advisors Inc. purchased a new position in shares of Charles River Laboratories International during the second quarter worth approximately $202,000. Finally, Wright Investors Service Inc. boosted its position in shares of Charles River Laboratories International by 4.3% in the second quarter. Wright Investors Service Inc. now owns 6,595 shares of the medical research company’s stock worth $667,000 after buying an additional 270 shares during the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International, Inc. (NYSE:CRL) traded up 1.29% on Friday, hitting $97.97. The stock had a trading volume of 499,107 shares. The company’s 50-day moving average price is $99.80 and its 200 day moving average price is $91.67. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 25.82 and a beta of 1.02. Charles River Laboratories International, Inc. has a one year low of $67.20 and a one year high of $102.32.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, August 9th. The medical research company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $469.13 million during the quarter, compared to analysts’ expectations of $458.25 million. During the same period in the prior year, the company earned $1.20 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. Analysts expect that Charles River Laboratories International, Inc. will post $5.10 earnings per share for the current year.

Charles River Laboratories International announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 10th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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A number of equities analysts have commented on the company. Zacks Investment Research cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub cut Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Barclays PLC reaffirmed a “hold” rating and issued a $102.00 price target on shares of Charles River Laboratories International in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $121.00 price target on shares of Charles River Laboratories International in a report on Friday, June 30th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $104.00 price target (up previously from $91.00) on shares of Charles River Laboratories International in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Charles River Laboratories International has a consensus rating of “Hold” and an average price target of $96.94.

In related news, insider David Ross Smith sold 945 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $95.00, for a total transaction of $89,775.00. Following the completion of the sale, the insider now directly owns 14,203 shares of the company’s stock, valued at approximately $1,349,285. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Davide Molho sold 10,948 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total transaction of $1,094,800.00. Following the completion of the transaction, the insider now directly owns 27,497 shares of the company’s stock, valued at $2,749,700. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,369 shares of company stock valued at $7,846,412. 2.20% of the stock is owned by corporate insiders.

About Charles River Laboratories International

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.

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

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