Charles River Laboratories International, Inc. (NYSE:CRL – Get Rating) – Analysts at Zacks Research cut their Q3 2022 earnings estimates for shares of Charles River Laboratories International in a research report issued on Tuesday, September 20th. Zacks Research analyst U. Biswas now expects that the medical research company will earn $2.49 per share for the quarter, down from their previous estimate of $2.52. The consensus estimate for Charles River Laboratories International's current full-year earnings is $10.77 per share. Zacks Research also issued estimates for Charles River Laboratories International's FY2022 earnings at $10.73 EPS, Q2 2023 earnings at $3.24 EPS, Q3 2023 earnings at $3.06 EPS and FY2024 earnings at $14.76 EPS.
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Other equities analysts have also recently issued research reports about the stock. Stephens set a $315.00 target price on shares of Charles River Laboratories International in a research note on Monday, June 20th. Credit Suisse Group started coverage on shares of Charles River Laboratories International in a research note on Wednesday, August 24th. They set an "outperform" rating and a $285.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Charles River Laboratories International from $325.00 to $300.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 16th. Morgan Stanley cut shares of Charles River Laboratories International from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $350.00 to $250.00 in a research note on Thursday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Charles River Laboratories International from $290.00 to $270.00 in a research note on Monday, August 8th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $317.67.
Charles River Laboratories International Stock Performance
Shares of CRL stock opened at $194.18 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.08 and a current ratio of 1.33. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 1.32 and a beta of 1.35. The company's 50-day moving average is $218.82 and its 200 day moving average is $238.74. Charles River Laboratories International has a one year low of $191.27 and a one year high of $460.21.
Charles River Laboratories International (NYSE:CRL – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The medical research company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.74 by $0.03. Charles River Laboratories International had a net margin of 12.02% and a return on equity of 21.51%. The company had revenue of $973.13 million for the quarter, compared to the consensus estimate of $995.12 million. During the same period in the prior year, the firm posted $2.61 EPS. Charles River Laboratories International's revenue for the quarter was up 6.4% on a year-over-year basis.
Insider Transactions at Charles River Laboratories International
In other news, EVP Joseph W. Laplume sold 200 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $226.13, for a total value of $45,226.00. Following the transaction, the executive vice president now owns 20,766 shares in the company, valued at approximately $4,695,815.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company's stock.
Institutional Investors Weigh In On Charles River Laboratories International
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its stake in Charles River Laboratories International by 9.3% during the 2nd quarter. Federated Hermes Inc. now owns 212,868 shares of the medical research company's stock worth $45,547,000 after acquiring an additional 18,196 shares during the period. Royal London Asset Management Ltd. raised its stake in Charles River Laboratories International by 3.6% during the 2nd quarter. Royal London Asset Management Ltd. now owns 17,706 shares of the medical research company's stock worth $3,793,000 after acquiring an additional 616 shares during the period. Amundi raised its stake in Charles River Laboratories International by 34.0% during the 2nd quarter. Amundi now owns 193,303 shares of the medical research company's stock worth $40,675,000 after acquiring an additional 49,086 shares during the period. Verition Fund Management LLC bought a new stake in Charles River Laboratories International during the 2nd quarter worth approximately $525,000. Finally, Fragasso Group Inc. raised its stake in Charles River Laboratories International by 4.4% during the 2nd quarter. Fragasso Group Inc. now owns 21,179 shares of the medical research company's stock worth $4,532,000 after acquiring an additional 886 shares during the period. Institutional investors own 95.20% of the company's stock.
Charles River Laboratories International Company Profile
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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).
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