Revenue Update on Charles River Laboratories(NYSE:CRL)

Charles River Laboratories(NYSE:CRL) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 14, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $466.789M. Analysts estimated a revenue of $441.700M. The revenues were 5.68% above the estimates. Earnings per share were $1.21. The reported EPS was above estimates by 9.01%. Analysts had estimated an EPS of $1.11.

In a different note, On Dec 16, 2016, Goldman Sachs said it Upgrades its rating on Charles River Laboratories. The shares have been rated ‘Neutral’ by the firm.

Charles River Laboratories (CRL) shares turned negative on Wednesdays trading session with the shares closing down -0.47 points or -0.53% at a volume of 2,85,888. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $88.51. The peak price level was also seen at $88.51 while the days lowest was $87.43. Finally the shares closed at $87.93. The 52-week high of the shares is $89.585 while the 52-week low is $67.2. According to the latest information available, the market cap of the company is $4,166 M.

Several Insider Transactions has been reported to the SEC. On Feb 1, 2017, David P Johst (Corporate Executive VP) sold 13,950 shares at $78.00 per share price.Also, On Dec 5, 2016, Stephen D Chubb (director) sold 4,564 shares at $71.57 per share price.On Nov 29, 2016, C Richard Reese (director) sold 4,539 shares at $71.93 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.

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