Charles River Laboratories International, Inc. (NYSE:CRL) released its quarterly earnings data on Wednesday. The medical research company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.07, Bloomberg Earnings reports. Charles River Laboratories International had a net margin of 9.28% and a return on equity of 27.46%. The business had revenue of $469.13 million for the quarter, compared to analysts’ expectations of $458.25 million. During the same quarter last year, the company earned $1.20 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Charles River Laboratories International updated its FY17 guidance to $5.00-5.15 EPS.

Charles River Laboratories International (NYSE:CRL) remained flat at $98.36 during trading on Wednesday. 529,181 shares of the stock were exchanged. Charles River Laboratories International has a 52 week low of $67.20 and a 52 week high of $102.32. The firm has a market capitalization of $4.69 billion, a P/E ratio of 28.79 and a beta of 1.02. The stock’s 50 day moving average is $99.84 and its 200 day moving average is $91.01.

In related news, Chairman James C. Foster sold 43,154 shares of Charles River Laboratories International stock in a transaction dated Thursday, June 22nd. The stock was 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 directly owns 361,178 shares of the company’s stock, valued at $36,117,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Massaro sold 3,830 shares of Charles River Laboratories International stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $100.81, for a total value of $386,102.30. Following the completion of the transaction, the director now directly owns 18,731 shares of the company’s stock, valued at $1,888,272.11. The disclosure for this sale can be found here. Insiders sold 80,499 shares of company stock valued at $7,946,191 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRL. Pembroke Management LTD boosted its position in Charles River Laboratories International by 6.2% in the first quarter. Pembroke Management LTD now owns 271,735 shares of the medical research company’s stock worth $24,442,000 after buying an additional 15,900 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Charles River Laboratories International by 75.3% in the first quarter. Canada Pension Plan Investment Board now owns 12,800 shares of the medical research company’s stock worth $1,151,000 after buying an additional 5,500 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Charles River Laboratories International by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,446 shares of the medical research company’s stock worth $1,479,000 after buying an additional 200 shares in the last quarter. Wesbanco Bank Inc. boosted its position in Charles River Laboratories International by 81.8% in the first quarter. Wesbanco Bank Inc. now owns 5,849 shares of the medical research company’s stock worth $526,000 after buying an additional 2,632 shares in the last quarter. Finally, Cardinal Capital Management boosted its position in Charles River Laboratories International by 1.1% in the first quarter. Cardinal Capital Management now owns 7,035 shares of the medical research company’s stock worth $633,000 after buying an additional 76 shares in the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently weighed in on CRL shares. Credit Suisse Group reaffirmed a “neutral” rating and issued a $95.00 price objective (up previously from $89.00) on shares of Charles River Laboratories International in a report on Tuesday, June 6th. BidaskClub cut shares of Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Charles River Laboratories International in a report on Wednesday, June 14th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $104.00 price objective (up previously from $90.00) on shares of Charles River Laboratories International in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Charles River Laboratories International presently has an average rating of “Hold” and a consensus price target of $97.06.

Charles River Laboratories International declared that its board has approved a stock buyback plan on Wednesday, May 10th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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Charles River Laboratories International Company Profile

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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