Charles River Laboratories (CRL) Short Interest Down 39.6% in April

Charles River Laboratories (NYSE:CRL) was the target of a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 1,285,521 shares, a decrease of 39.6% from the April 13th total of 2,126,952 shares. Based on an average trading volume of 269,412 shares, the short-interest ratio is currently 4.8 days. Currently, 2.7% of the shares of the stock are sold short.

A number of equities research analysts recently commented on the company. Morgan Stanley restated an “equal weight” rating and set a $102.00 price target (up from $94.00) on shares of Charles River Laboratories in a research report on Wednesday, March 14th. TheStreet lowered Charles River Laboratories from an “a-” rating to a “c+” rating in a research report on Tuesday, February 13th. Credit Suisse Group reiterated a “hold” rating and issued a $108.00 price objective on shares of Charles River Laboratories in a research report on Thursday, February 15th. Barclays reiterated a “hold” rating and issued a $110.00 price objective on shares of Charles River Laboratories in a research report on Friday, February 16th. Finally, Royal Bank of Canada set a $116.00 price objective on Charles River Laboratories and gave the company a “hold” rating in a research report on Tuesday, February 13th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $115.86.

Charles River Laboratories opened at $105.00 on Friday, Marketbeat.com reports. Charles River Laboratories has a 12-month low of $102.98 and a 12-month high of $104.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.78 and a current ratio of 2.07. The firm has a market capitalization of $4.99 billion, a PE ratio of 19.92, a P/E/G ratio of 1.32 and a beta of 0.69.

Charles River Laboratories (NYSE:CRL) last posted its quarterly earnings results on Thursday, May 10th. The medical research company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.12. Charles River Laboratories had a return on equity of 24.96% and a net margin of 6.78%. The business had revenue of $493.97 million for the quarter, compared to analyst estimates of $480.03 million. During the same period last year, the company earned $1.29 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. analysts forecast that Charles River Laboratories will post 5.85 EPS for the current fiscal year.

In related news, Director George M. Milne, Jr. sold 7,740 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $115.00, for a total transaction of $890,100.00. Following the sale, the director now directly owns 36,760 shares in the company, valued at approximately $4,227,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William D. Barbo sold 2,320 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $108.08, for a total value of $250,745.60. Following the sale, the insider now owns 21,276 shares in the company, valued at $2,299,510.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,264 shares of company stock worth $6,390,411. 2.10% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Charles River Laboratories by 3.0% in the 1st quarter. BlackRock Inc. now owns 4,154,280 shares of the medical research company’s stock worth $443,427,000 after purchasing an additional 119,962 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Charles River Laboratories by 3,017.9% in the 4th quarter. William Blair Investment Management LLC now owns 1,406,744 shares of the medical research company’s stock worth $153,968,000 after purchasing an additional 1,361,626 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Charles River Laboratories by 4.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,398,700 shares of the medical research company’s stock worth $153,088,000 after purchasing an additional 58,991 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Charles River Laboratories by 423.6% in the 1st quarter. Wells Fargo & Company MN now owns 1,249,196 shares of the medical research company’s stock worth $133,339,000 after purchasing an additional 1,010,618 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Charles River Laboratories by 15.3% in the 4th quarter. Mackenzie Financial Corp now owns 1,071,178 shares of the medical research company’s stock worth $117,240,000 after purchasing an additional 142,382 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

About Charles River Laboratories

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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