Alere Stock Rating Lowered by Zacks (ALR)
Alere (NYSE:ALR) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Tuesday, StockRatingsNetwork.com reports. They currently have a $36.80 price target on the stock. Zacks‘ target price indicates a potential upside of 16.68% from the company’s current price.
Shares of Alere (NYSE:ALR) traded up 3.17% on Tuesday, hitting $31.54. 894,597 shares of the company’s stock traded hands. Alere has a 52 week low of $17.20 and a 52 week high of $35.38. The stock has a 50-day moving average of $31.70 and a 200-day moving average of $27.93. The company’s market cap is $2.578 billion.
Alere (NYSE:ALR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.16. The company had revenue of $764.00 million for the quarter, compared to the consensus estimate of $720.24 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Alere will post $2.34 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ALR. Analysts at Craig Hallum downgraded shares of Alere (NYSE:ALR) from a “hold” rating to a “sell” rating in a research note to investors on Thursday, August 8th. They now have a $25.00 price target on the stock. Separately, analysts at Wedbush raised their price target on shares of Alere (NYSE:ALR) from $25.00 to $29.00 in a research note to investors on Friday, August 2nd. They now have a “neutral” rating on the stock. Finally, analysts at Mizuho raised their price target on shares of Alere (NYSE:ALR) from $25.00 to $32.00 in a research note to investors on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $31.11.
Alere Inc is a provider of point-of-care diagnostics and services. The Company’s products and services help healthcare practitioners make treatment decisions and improve outcomes for individuals living with chronic disease.
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