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

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report)'s stock price gapped up before the market opened 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 (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.16. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $983.63 million. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 EPS.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group lowered their price target 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. Barclays lowered their target price on shares of Charles River Laboratories International from $205.00 to $166.00 and set an "equal weight" rating for the company in a report on Tuesday. UBS Group reiterated a "neutral" rating and set a $185.00 price target (down from $250.00) on shares of Charles River Laboratories International in a research note on Friday, January 17th. Robert W. Baird decreased their price objective on shares of Charles River Laboratories International from $177.00 to $173.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, William Blair cut Charles River Laboratories International from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $195.71.

Institutional Investors Weigh In On Charles River Laboratories International

A number of large investors have recently made changes to their positions in CRL. Versant Capital Management Inc lifted its holdings in shares of 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 purchasing an additional 150 shares in the last quarter. Assetmark Inc. grew its stake in Charles River Laboratories International by 1,153.3% during the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company's stock valued at $37,000 after acquiring an additional 173 shares in the last quarter. Pinnacle Bancorp Inc. increased its holdings 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. Optiver Holding B.V. purchased a new position in Charles River Laboratories International during the fourth quarter valued at approximately $37,000. Finally, GeoWealth Management LLC lifted its holdings in shares of Charles River Laboratories International by 311.5% during 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 during the last quarter. Institutional investors and hedge funds own 98.91% of the company's stock.

Charles River Laboratories International Stock Performance

The company has a market cap of $8.34 billion, a price-to-earnings ratio of 1,087.39, a P/E/G ratio of 6.77 and a beta of 1.37. The firm has a fifty day simple moving average of $173.39 and a 200 day simple moving average of $188.81. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.14.

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).