Charles River Laboratories International, Inc. (NYSE:CRL) announced its quarterly earnings results on Wednesday, August 9th. The medical research company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.07, Bloomberg Earnings reports. The firm had revenue of $469.13 million during the quarter, compared to analysts’ expectations of $458.25 million. Charles River Laboratories International had a net margin of 10.13% and a return on equity of 27.02%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. Charles River Laboratories International updated its FY17 guidance to $5.00-5.15 EPS.

Charles River Laboratories International (NYSE CRL) traded up 0.27% on Friday, reaching $99.98. 321,047 shares of the company traded hands. The company has a market capitalization of $4.76 billion, a PE ratio of 26.35 and a beta of 1.02. The stock has a 50-day moving average of $99.58 and a 200 day moving average of $92.39. Charles River Laboratories International has a 52-week low of $67.20 and a 52-week high of $102.32.

In related news, Chairman James C. Foster sold 43,154 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $4,315,400.00. Following the completion of the transaction, the chairman now owns 361,178 shares of the company’s stock, valued at approximately $36,117,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David Ross Smith sold 2,552 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $67.10, for a total transaction of $171,239.20. Following the completion of the transaction, the insider now directly owns 11,671 shares of the company’s stock, valued at approximately $783,124.10. The disclosure for this sale can be found here. In the last three months, insiders sold 81,921 shares of company stock valued at $8,017,651. 2.20% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Charles River Laboratories International by 12,573.1% in the first quarter. BlackRock Inc. now owns 3,845,643 shares of the medical research company’s stock valued at $345,915,000 after buying an additional 3,815,298 shares during the last quarter. FMR LLC increased its position in Charles River Laboratories International by 39.7% in the first quarter. FMR LLC now owns 2,488,113 shares of the medical research company’s stock valued at $223,806,000 after buying an additional 707,612 shares during the last quarter. Ariel Investments LLC increased its position in Charles River Laboratories International by 30.7% in the first quarter. Ariel Investments LLC now owns 2,060,420 shares of the medical research company’s stock valued at $185,335,000 after buying an additional 483,564 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Charles River Laboratories International during the first quarter valued at about $39,355,000. Finally, Marshall Wace North America L.P. acquired a new position in Charles River Laboratories International during the first quarter valued at about $39,355,000. 93.79% of the stock is owned by hedge funds and other institutional investors.

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Charles River Laboratories International declared that its board has authorized a stock repurchase program on Wednesday, May 10th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of research firms have recently issued reports on CRL. Barclays PLC set a $90.00 target price on shares of Charles River Laboratories International and gave the company a “hold” rating in a research note on Saturday, May 13th. Zacks Investment Research upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Thursday, August 10th. BidaskClub upgraded shares of Charles River Laboratories International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reiterated a “buy” rating on shares of Charles River Laboratories International in a research note on Wednesday, June 14th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $104.00 target price (up previously from $90.00) on shares of Charles River Laboratories International in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Charles River Laboratories International currently has a consensus rating of “Hold” and a consensus price target of $96.94.

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.

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

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