Charles River Laboratories (CRL) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $1.20 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $1.10. The company posted revenue of $434.10 million in the period, compared to analysts expectations of $424.98 million. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS.
Many Wall Street Analysts have commented on Charles River Laboratories. Credit Suisse Initiated Charles River Laboratories on Jun 21, 2016 to “Neutral”, Price Target of the shares are set at $84.Company shares were Reiterated by Barclays on May 20, 2016 to “Underweight”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .
Charles River Laboratories closed down -1.4 points or -1.58% at $87.04 with 5,66,875 shares getting traded on Tusday. Post opening the session at $88.25, the shares hit an intraday low of $86.15 and an intraday high of $88.56 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Aug 1, 2016, Richard F Wallman (director) sold 7,740 shares at $88.00 per share price. According to the SEC, on Jul 5, 2016, George Massaro (director) sold 800 shares at $83.54 per share price. On May 25, 2016, John J Crowley (SVP, Chief Accounting Officer) sold 1,913 shares at $85.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Charles River Laboratories International Inc. is a full service early stage contract research company. The Company offers research models for the research and development of new drugs devices and therapies. It develops a portfolio of discovery and safety assessment services both Good Laboratory Practice (GLP) and non-GLP that support the clients from target identification through preclinical development. The Company operates through three segments: Research Models and Services (RMS) which supplies research models to the drug development industry; Discovery and Safety Assessment (DSA) which provides services that enables the clients to outsource their drug discovery research critical regulatory-required safety assessment testing and related drug discovery and development activities and Manufacturing Support (Manufacturing) which is involved in the production and release of products manufactured by the clients.