Charles River Laboratories International (NYSE:CRL) Posts Earnings Results, Beats Expectations By $0.03 EPS

Charles River Laboratories International (NYSE:CRLGet Rating) released its quarterly earnings data on Wednesday. The medical research company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.03, Briefing.com reports. The firm had revenue of $973.13 million during the quarter, compared to analyst estimates of $995.12 million. Charles River Laboratories International had a return on equity of 21.51% and a net margin of 12.02%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.61 earnings per share. Charles River Laboratories International updated its FY22 guidance to $10.70-10.95 EPS and its FY 2022 guidance to $10.70-$10.95 EPS.

Charles River Laboratories International Trading Down 1.9 %

Shares of CRL traded down $4.26 during midday trading on Friday, hitting $223.38. 550,976 shares of the stock were exchanged, compared to its average volume of 533,534. Charles River Laboratories International has a 52-week low of $203.37 and a 52-week high of $460.21. The stock has a fifty day simple moving average of $226.08 and a 200 day simple moving average of $261.94. The firm has a market cap of $11.36 billion, a P/E ratio of 25.91, a P/E/G ratio of 1.48 and a beta of 1.29. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.12 and a current ratio of 1.33.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRL. Deutsche Bank Aktiengesellschaft dropped their target price on Charles River Laboratories International from $350.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Guggenheim began coverage on Charles River Laboratories International in a research note on Monday, May 23rd. They issued a “neutral” rating on the stock. They noted that the move was a valuation call. Wells Fargo & Company dropped their target price on Charles River Laboratories International from $390.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Jefferies Financial Group cut Charles River Laboratories International from a “buy” rating to a “hold” rating and dropped their price objective for the company from $370.00 to $280.00 in a report on Monday, April 25th. Finally, Stephens set a $315.00 price target on Charles River Laboratories International in a research report on Monday, June 20th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Charles River Laboratories International has an average rating of “Moderate Buy” and a consensus price target of $355.64.

Insider Transactions at Charles River Laboratories International

In other news, Director George Massaro sold 178 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $230.96, for a total transaction of $41,110.88. Following the completion of the transaction, the director now directly owns 4,677 shares in the company, valued at $1,080,199.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRL. Covestor Ltd boosted its holdings in Charles River Laboratories International by 100.0% in the first quarter. Covestor Ltd now owns 174 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 87 shares during the period. Parkside Financial Bank & Trust raised its stake in Charles River Laboratories International by 20.6% in the first quarter. Parkside Financial Bank & Trust now owns 469 shares of the medical research company’s stock valued at $133,000 after buying an additional 80 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Charles River Laboratories International in the first quarter valued at $208,000. Toroso Investments LLC raised its stake in Charles River Laboratories International by 15.1% in the first quarter. Toroso Investments LLC now owns 1,159 shares of the medical research company’s stock valued at $329,000 after buying an additional 152 shares in the last quarter. Finally, Prudential PLC acquired a new stake in Charles River Laboratories International in the first quarter valued at $332,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

About Charles River Laboratories International

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Charles River Laboratories International, Inc, a non-clinical contract research organization, provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).

See Also

Earnings History for Charles River Laboratories International (NYSE:CRL)

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