Q2 2023 EPS Estimates for Charles River Laboratories International, Inc. Increased by Analyst (NYSE:CRL)

Charles River Laboratories International, Inc. (NYSE:CRL – Get Rating) – Zacks Research upped their Q2 2023 earnings estimates for Charles River Laboratories International in a note issued to investors on Wednesday, May 24th. Zacks Research analyst U. Biswas now anticipates that the medical research company will post earnings of $2.58 per share for the quarter, up from their prior forecast of $2.45. The consensus estimate for Charles River Laboratories International’s current full-year earnings is $10.28 per share. Zacks Research also issued estimates for Charles River Laboratories International’s Q3 2023 earnings at $2.34 EPS, Q4 2023 earnings at $2.53 EPS, Q1 2024 earnings at $2.82 EPS, Q2 2024 earnings at $2.94 EPS, Q3 2024 earnings at $2.69 EPS, Q4 2024 earnings at $2.74 EPS, FY2024 earnings at $11.18 EPS and FY2025 earnings at $13.98 EPS.

Charles River Laboratories International (NYSE:CRL – Get Rating) last posted its earnings results on Wednesday, February 22nd. The medical research company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.75 by $0.23. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.04 billion. Charles River Laboratories International had a return on equity of 20.12% and a net margin of 12.13%. Charles River Laboratories International’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company earned $2.49 EPS.

Other equities research analysts have also issued reports about the company. Citigroup decreased their price target on Charles River Laboratories International from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, February 23rd. Morgan Stanley lowered their target price on Charles River Laboratories International from $241.00 to $230.00 and set an “equal weight” rating for the company in a research note on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Charles River Laboratories International from $260.00 to $250.00 in a report on Friday, May 12th. Wells Fargo & Company reduced their price target on Charles River Laboratories International from $290.00 to $280.00 in a research report on Friday, May 12th. Finally, StockNews.com assumed coverage on shares of Charles River Laboratories International in a report on Thursday, May 18th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Charles River Laboratories International has a consensus rating of “Moderate Buy” and a consensus price target of $260.73.

Charles River Laboratories International Price Performance

NYSE:CRL opened at $194.12 on Friday. Charles River Laboratories International has a 12 month low of $181.22 and a 12 month high of $262.00. The company’s 50-day moving average price is $195.98 and its two-hundred day moving average price is $217.99. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 0.88. The firm has a market cap of $9.94 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.38 and a beta of 1.34.

Insider Buying and Selling

In other news, EVP Joseph W. Laplume sold 345 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $190.39, for a total transaction of $65,684.55. Following the sale, the executive vice president now directly owns 24,026 shares of the company’s stock, valued at approximately $4,574,310.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles River Laboratories International

A number of institutional investors have recently modified their holdings of CRL. Vanguard Group Inc. raised its stake in Charles River Laboratories International by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,935,727 shares of the medical research company’s stock worth $1,685,568,000 after acquiring an additional 66,602 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Charles River Laboratories International by 35.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,506,293 shares of the medical research company’s stock valued at $505,821,000 after purchasing an additional 653,790 shares during the last quarter. State Street Corp boosted its position in Charles River Laboratories International by 0.9% in the third quarter. State Street Corp now owns 2,031,141 shares of the medical research company’s stock valued at $399,729,000 after buying an additional 19,084 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Charles River Laboratories International by 1.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,632,261 shares of the medical research company’s stock worth $321,229,000 after buying an additional 22,434 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Charles River Laboratories International by 2.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,407,034 shares of the medical research company’s stock valued at $283,968,000 after acquiring an additional 36,176 shares during the last quarter. Institutional investors and hedge funds own 97.80% of the company’s stock.

Charles River Laboratories International Company Profile

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Charles River Laboratories International, Inc is an early-stage contract research company, which provides research models required in the research and development of new drugs, devices, and therapies. It operates through the following segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions.