Charles River Laboratories Intl. (CRL) to Repurchase $150.00 million in Shares

Charles River Laboratories Intl. (CRL) to Repurchase $150.00 million in   Shares

Charles River Laboratories Intl. (NYSE:CRL) declared that its board has initiated a share repurchase program, which permits the company to buyback $150.00 million in outstanding shares on Wednesday, May 10th, EventVestor reports. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Shares of Charles River Laboratories Intl. (CRL) traded up 0.29% on Friday, hitting $93.72. The company’s stock had a trading volume of 195,598 shares. The firm has a market cap of $4.46 billion, a PE ratio of 27.43 and a beta of 0.99. Charles River Laboratories Intl. has a 1-year low of $67.20 and a 1-year high of $94.07. The company has a 50 day moving average of $90.15 and a 200 day moving average of $83.82.

Charles River Laboratories Intl. (NYSE:CRL) last posted its earnings results on Wednesday, May 10th. The medical research company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.15. The company had revenue of $445.80 million during the quarter, compared to analyst estimates of $437.04 million. Charles River Laboratories Intl. had a return on equity of 25.75% and a net margin of 9.05%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Equities analysts forecast that Charles River Laboratories Intl. will post $5.10 EPS for the current year.

A number of research analysts recently issued reports on the company. Jefferies Group LLC restated a “buy” rating on shares of Charles River Laboratories Intl. in a research note on Thursday, March 16th. Barclays PLC set a $90.00 price target on Charles River Laboratories Intl. and gave the stock a “hold” rating in a research note on Saturday, May 13th. Finally, Citigroup Inc restated a “neutral” rating and set a $104.00 price target (up previously from $90.00) on shares of Charles River Laboratories Intl. in a research note on Thursday, May 11th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.44.

In other news, insider Davide Molho sold 10,976 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $92.84, for a total transaction of $1,019,011.84. Following the completion of the transaction, the insider now directly owns 27,525 shares of the company’s stock, valued at $2,555,421. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William D. Barbo sold 1,900 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $87.90, for a total value of $167,010.00. Following the transaction, the insider now directly owns 22,224 shares of the company’s stock, valued at $1,953,489.60. The disclosure for this sale can be found here. Insiders have sold 60,316 shares of company stock valued at $5,421,183 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

About Charles River Laboratories Intl.

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CRL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Related posts

Leave a Comment