Charles River’s early-stage research segment overshadows its attractive research model unit.
Charles River reported fourth-quarter results above our expectations, rounding out a solid full year for the firm. We may marginally increase our $67 per share fair value estimate to account for the time value of money and slightly more optimistic near-term margin expansion. The company saw 8% year-over-year organic sales growth (32% in reported growth thanks to a number of acquisitions) in the quarter driven by strong performance in the discovery and safety assessment and manufacturing support ...Charles River Laboratories International is a contract research organization. The company has a laboratory animal medicine and science to develop a portfolio of discovery and safety assessment services. The company's segments are: Research Models and Services, which supplies research models to the drug development industry; Discovery and Safety Assessment (DSA), which provides DSA services, including in vitro and in vivo studies, laboratory support services, and strategic non-clinical consulting and program management to support product development; and Manufacturing Support, which ensures the production and release of products manufactured by the company's clients.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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