Charles River Laboratories (CRL) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.98 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.90. The company posted revenue of $354.90 million in the period, compared to analysts expectations of $354.81 million. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.
Many Wall Street Analysts have commented on Charles River Laboratories. Gabelli & Co Initiated Charles River Laboratories on Apr 26, 2016 to “Buy”, Price Target of the shares are set at $96.
Charles River Laboratories opened for trading at $79.64 and hit $80.06 on the upside on Monday, eventually ending the session at $79.4, with a gain of 0.16% or 0.13 points. The heightened volatility saw the trading volume jump to 6,11,009 shares. Company has a market cap of $3,709 M.
In a different news, on Apr 8, 2016, Davide Molho (Corporate Executive VP) sold 30,667 shares at $80.00 per share price. According to the SEC, on Mar 4, 2016, James C Foster (Chairman, President and CEO) sold 20,072 shares at $75.00 per share price. On Mar 4, 2016, Nancy Gillett (Corporate Executive VP) sold 822 shares at $75.82 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.