Charles River Laboratories International (NYSE:CRL) Shares Gap Up on Better-Than-Expected Earnings

Shares of Charles River Laboratories International, Inc. (NYSE:CRL) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $154.39, but opened at $159.28. Charles River Laboratories International shares last traded at $160.76, with a volume of 152,366 shares trading hands.

The medical research company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%.

Wall Street Analysts Forecast Growth

CRL has been the subject of several analyst reports. StockNews.com downgraded shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. UBS Group reiterated a “neutral” rating and set a $185.00 price objective (down from $250.00) on shares of Charles River Laboratories International in a report on Friday, January 17th. Morgan Stanley dropped their price target on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. The Goldman Sachs Group dropped their target price on Charles River Laboratories International from $220.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, TD Cowen boosted their price target on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Charles River Laboratories International presently has an average rating of “Hold” and an average target price of $197.64.

Institutional Investors Weigh In On Charles River Laboratories International

Several hedge funds have recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in Charles River Laboratories International by 1,071.4% in the fourth quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 150 shares in the last quarter. Pinnacle Bancorp Inc. lifted its stake in shares of Charles River Laboratories International by 52.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 65 shares during the period. Assetmark Inc. raised its position in shares of Charles River Laboratories International by 1,153.3% in the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after acquiring an additional 173 shares during the period. Optiver Holding B.V. acquired a new stake in Charles River Laboratories International in the 4th quarter valued at $37,000. Finally, GeoWealth Management LLC lifted its stake in Charles River Laboratories International by 311.5% in the 4th quarter. GeoWealth Management LLC now owns 251 shares of the medical research company’s stock valued at $46,000 after buying an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Performance

The firm has a 50-day moving average price of $174.59 and a two-hundred day moving average price of $189.16. The firm has a market cap of $8.33 billion, a PE ratio of 20.21, a P/E/G ratio of 5.91 and a beta of 1.37. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61.

About Charles River Laboratories International

Charles River Laboratories International, Inc 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).