Charles River Laboratories Intl. (CRL) Releases Earnings Results, Beats Expectations By $0.10 EPS

Charles River Laboratories Intl. (NYSE:CRL) released its earnings results on Wednesday. The medical research company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.10, MarketWatch Earnings reports. The firm had revenue of $605.53 million for the quarter, compared to the consensus estimate of $589.86 million. Charles River Laboratories Intl. had a net margin of 6.39% and a return on equity of 25.08%. The company’s revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. Charles River Laboratories Intl. updated its FY 2019 guidance to $6.25-6.40 EPS.

Shares of Charles River Laboratories Intl. stock opened at $139.12 on Thursday. The stock has a market capitalization of $6.21 billion, a P/E ratio of 26.40, a PEG ratio of 1.65 and a beta of 0.99. Charles River Laboratories Intl. has a 1 year low of $101.58 and a 1 year high of $139.91. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 1.32.

A number of research firms have recently weighed in on CRL. Jefferies Financial Group reaffirmed a “buy” rating and issued a $162.00 target price on shares of Charles River Laboratories Intl. in a research report on Thursday. ValuEngine downgraded shares of Charles River Laboratories Intl. from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. Deutsche Bank began coverage on shares of Charles River Laboratories Intl. in a research report on Friday, December 14th. They issued a “buy” rating on the stock. Robert W. Baird upped their target price on shares of Charles River Laboratories Intl. from $144.00 to $148.00 and gave the stock an “outperform” rating in a research report on Thursday, November 8th. Finally, Raymond James upped their target price on shares of Charles River Laboratories Intl. from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Charles River Laboratories Intl. has a consensus rating of “Buy” and an average target price of $134.20.

In related news, Chairman James C. Foster sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $115.00, for a total value of $2,875,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert J. Bertolini sold 3,440 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $133.77, for a total transaction of $460,168.80. Following the completion of the transaction, the director now owns 29,876 shares in the company, valued at approximately $3,996,512.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,417 shares of company stock worth $3,590,419. 2.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CRL. Advisors Asset Management Inc. lifted its stake in Charles River Laboratories Intl. by 41.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 11,686 shares of the medical research company’s stock valued at $1,312,000 after acquiring an additional 3,396 shares during the period. Schroder Investment Management Group increased its position in shares of Charles River Laboratories Intl. by 60.9% during the 2nd quarter. Schroder Investment Management Group now owns 77,462 shares of the medical research company’s stock valued at $8,616,000 after purchasing an additional 29,332 shares during the last quarter. Atria Investments LLC increased its position in shares of Charles River Laboratories Intl. by 46.7% during the 3rd quarter. Atria Investments LLC now owns 5,776 shares of the medical research company’s stock valued at $777,000 after purchasing an additional 1,839 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Charles River Laboratories Intl. by 34.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,545 shares of the medical research company’s stock valued at $745,000 after purchasing an additional 1,425 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Charles River Laboratories Intl. by 1,910.1% during the 3rd quarter. Bank of Montreal Can now owns 221,355 shares of the medical research company’s stock valued at $29,781,000 after purchasing an additional 210,343 shares during the last quarter. Institutional investors and hedge funds own 99.47% of the company’s stock.

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About Charles River Laboratories Intl.

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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Earnings History for Charles River Laboratories Intl. (NYSE:CRL)

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