William Blair Comments on Charles River Laboratories International, Inc.’s Q1 2023 Earnings (NYSE:CRL)

Charles River Laboratories International, Inc. (NYSE:CRLGet Rating) – Stock analysts at William Blair decreased their Q1 2023 EPS estimates for shares of Charles River Laboratories International in a research report issued to clients and investors on Wednesday, August 3rd. William Blair analyst J. Kreger now expects that the medical research company will post earnings of $2.92 per share for the quarter, down from their previous forecast of $3.01. The consensus estimate for Charles River Laboratories International’s current full-year earnings is $10.75 per share. William Blair also issued estimates for Charles River Laboratories International’s Q2 2023 earnings at $3.15 EPS and FY2023 earnings at $13.12 EPS.

CRL has been the subject of several other research reports. Guggenheim assumed coverage on shares of Charles River Laboratories International in a research report on Monday, May 23rd. They issued a “neutral” rating for the company. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Charles River Laboratories International from $350.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. KeyCorp lowered their price target on shares of Charles River Laboratories International from $390.00 to $300.00 in a research report on Thursday, May 5th. Stephens set a $315.00 target price on shares of Charles River Laboratories International in a research report on Monday, June 20th. Finally, Wells Fargo & Company decreased their target price on shares of Charles River Laboratories International from $390.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles River Laboratories International currently has an average rating of “Moderate Buy” and an average target price of $355.64.

Charles River Laboratories International Price Performance

Shares of CRL opened at $223.38 on Friday. The company has a 50 day moving average price of $226.08 and a 200-day moving average price of $261.94. Charles River Laboratories International has a fifty-two week low of $203.37 and a fifty-two week high of $460.21. The stock has a market capitalization of $11.35 billion, a PE ratio of 25.91, a PEG ratio of 1.47 and a beta of 1.29. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.12 and a current ratio of 1.33.

Charles River Laboratories International (NYSE:CRLGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The medical research company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.03. The company had revenue of $973.13 million during the quarter, compared to analysts’ expectations of $995.12 million. Charles River Laboratories International had a net margin of 12.02% and a return on equity of 21.51%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.61 EPS.

Institutional Trading of Charles River Laboratories International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its stake in shares of Charles River Laboratories International by 15.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 703 shares of the medical research company’s stock worth $265,000 after acquiring an additional 96 shares during the period. Strs Ohio boosted its holdings in Charles River Laboratories International by 11.5% during the first quarter. Strs Ohio now owns 151,994 shares of the medical research company’s stock worth $43,161,000 after buying an additional 15,702 shares in the last quarter. Avitas Wealth Management LLC purchased a new stake in Charles River Laboratories International during the first quarter worth $344,000. Central Bank & Trust Co. boosted its holdings in Charles River Laboratories International by 243.4% during the first quarter. Central Bank & Trust Co. now owns 17,613 shares of the medical research company’s stock worth $5,001,000 after buying an additional 12,484 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC boosted its holdings in Charles River Laboratories International by 67.8% during the fourth quarter. Intercontinental Wealth Advisors LLC now owns 2,446 shares of the medical research company’s stock worth $922,000 after buying an additional 988 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Insider Buying and Selling at Charles River Laboratories International

In other news, Director George Massaro sold 178 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $230.96, for a total value of $41,110.88. Following the sale, the director now owns 4,677 shares in the company, valued at $1,080,199.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

About Charles River Laboratories International

(Get Rating)

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).

See Also

Earnings History and Estimates for Charles River Laboratories International (NYSE:CRL)

Want More Great Investing Ideas?

Receive News & Ratings for Charles River Laboratories International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles River Laboratories International and related companies with MarketBeat.com's FREE daily email newsletter.