Charles River’s Third-Quarter Results Clouded by Softness in Its Contract Drug Discovery Business
On the surface, Charles River reported solid third-quarter results, but we remain concerned about the reported weakness in the firm’s outsourced drug discovery business. We do not expect to change our $67 per share fair value estimate, as our 2016 sales and EPS estimates fall in line with management’s tightened range of guidance. Following the company’s earnings call, the stock now trades closer to our fair value estimate. Our narrow moat rating rests on Charles River’s reputation and expertise ...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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