Stock Monitor: Fluidigm Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 15, 2018 / Active-Investors.com has just released a free research report on Charles River Laboratories International, Inc. (NYSE: CRL) ("Charles River"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CRL as the Company's latest news hit the wire. On February 13, 2018, the Company announced that it has signed an agreement to acquire MPI Research ("MPI"), a non-clinical contract research organization (CRO), for approximately $800 million in cash. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Fluidigm Corporation (NASDAQ: FLDM), which also belongs to the Healthcare sector as the Company Charles River Laboratories Intl. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Charles River Laboratories International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Charles River will fund the acquisition with available cash and credit facility. The transaction, expected to close in Q2 2018, is subject to regulatory approvals and customary closing conditions. MPI is expected to be reported as part of Charles River's Discovery and Safety Assessment segment.
- The agreement will enhance Charles River's position as a leading global early-stage CRO by strengthening its ability to partner with clients across the drug discovery and development continuum.
- The acquisition aligns with the Company's strategy to expand its biotechnology client base. Also, MPI will add ototoxicity and abuse liability capabilities, and expand Charles River's existing capabilities in general toxicology and specialty toxicology, including ophthalmology, juvenile toxicity, molecular biology, and surgery as well as medical device testing.
- MPI will provide safety assessment infrastructure to support Charles River's current demand and future growth needs. The addition of MPI will also enhance the Company's ability to achieve its long-term growth goals and generate attractive financial returns through profitable revenue growth and meaningful accretion to non-GAAP earnings per share (EPS).
Financial Specifics of the Agreement
The acquisition price implies multiples of 11.7x non-GAAP earnings before interest, tax, depreciation, and amortization (EBITDA) based on MPI's estimated 2017 results, and approximately 10.5x non-GAAP EBITDA based on the estimated 2018 results including operational synergies. The acquisition is expected to add $170 million to $190 million to Charles River's 2018 consolidated revenue based on the anticipated timing of the close, and $260 million to $280 million to 2019 consolidated revenue.
The transaction is expected to be accretive to non-GAAP EPS by approximately $0.25 in 2018 and approximately $0.60 in 2019. The Company expects to generate operational synergies as a result of the acquisition, with benefits totaling $13 million to $16 million by the end of 2019. Items excluded from non-GAAP earnings per share are expected to include all acquisition-related costs.
Financial and Legal Advisors
Morgan Stanley & Co. LLC is serving as the exclusive financial advisor to Charles River. Davis Polk & Wardwell LLP is acting as Charles River's transactional legal counsel and Axinn, Veltrop & Harkrider LLP is acting as antitrust counsel. Jefferies LLC and SunTrust Robinson Humphrey, Inc. are acting as financial advisors, and Weil, Gotshal & Manges LLP is serving as transactional legal counsel to MPI.
Charles River's Recent Acquisition
On January 11, 2018, the Company acquired KWS BioTest, a CRO specializing in in vitro and in vivo discovery testing services for immuno-oncology and inflammatory and infectious diseases, for approximately £15 million (approximately $20 million) in cash. The addition of KWS BioTest enhanced Charles River's discovery expertise, with complementary offerings that provided the Company's clients with additional tools in the active therapeutic research areas of oncology and immunology.
About Charles River Laboratories International, Inc.
Founded in 1947 and headquartered in Wilmington, Massachusetts, Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts.
About MPI Research
MPI Research is a premier non-clinical contract research organization (CRO) providing comprehensive testing services to agricultural, environmental, biopharmaceutical, medical device, animal health, and chemical industries worldwide. The Company was founded in 1995 and is based in Mattawan, Michigan.
Stock Performance Snapshot
February 14, 2018 - At Wednesday's closing bell, Charles River Labs' stock advanced 2.46%, ending the trading session at $110.31.
Volume traded for the day: 1.24 million shares, which was above the 3-month average volume of 377.19 thousand shares.
Stock performance in the last month – up 4.30%; previous three-month period – up 8.22%; past twelve-month period – up 24.01%; and year-to-date - up 0.79%
After yesterday's close, Charles River Labs' market cap was at $5.14 billion.
Price to Earnings (P/E) ratio was at 26.94.
The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry. This sector was up 1.4% at the end of the session.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visithttp://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.