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

Charles River Laboratories International (NYSE:CRLGet Rating) released its quarterly earnings results on Wednesday. The medical research company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.03, Briefing.com reports. The company had revenue of $973.13 million for the quarter, compared to analyst estimates of $995.12 million. Charles River Laboratories International had a return on equity of 21.90% and a net margin of 11.64%. Charles River Laboratories International’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last 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 Stock Up 2.8 %

CRL stock traded up $6.26 during mid-day trading on Thursday, reaching $227.64. The company had a trading volume of 884,143 shares, compared to its average volume of 535,401. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.34 and a quick ratio of 1.12. The stock has a 50 day simple moving average of $226.56 and a two-hundred day simple moving average of $263.64. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.51 and a beta of 1.29. Charles River Laboratories International has a 52 week low of $203.37 and a 52 week high of $460.21.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, Director George Massaro sold 178 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $230.96, for a total value 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atria Wealth Solutions Inc. bought a new position in shares of Charles River Laboratories International during the 1st quarter worth approximately $743,000. Point72 Hong Kong Ltd boosted its stake in shares of Charles River Laboratories International by 198.3% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,288 shares of the medical research company’s stock worth $650,000 after acquiring an additional 1,521 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Charles River Laboratories International during the 1st quarter worth approximately $534,000. Wetherby Asset Management Inc. boosted its stake in shares of Charles River Laboratories International by 2.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 1,793 shares of the medical research company’s stock worth $509,000 after acquiring an additional 44 shares during the period. Finally, Quantamental Technologies LLC bought a new position in shares of Charles River Laboratories International during the 1st quarter worth approximately $436,000. 93.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CRL. Jefferies Financial Group lowered Charles River Laboratories International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $370.00 to $280.00 in a research report on Monday, April 25th. Stephens set a $315.00 price target on Charles River Laboratories International in a research report on Monday, June 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on Charles River Laboratories International from $350.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, July 14th. KeyCorp decreased their price objective on Charles River Laboratories International from $390.00 to $300.00 in a report on Thursday, May 5th. Finally, Guggenheim began coverage on Charles River Laboratories International in a report on Monday, May 23rd. They set a “neutral” rating for the company. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $361.00.

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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