Alere Inc. Hits New 52-Week High at $36.05 (ALR)
Shares of Alere (NYSE:ALR) hit a new 52-week high during mid-day trading on Tuesday, ARN reports. The stock traded as high as $36.05 and last traded at $34.37, with a volume of 1,322,008 shares trading hands. The stock had previously closed at $32.11.
ALR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Alere from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 1st. They now have a $36.80 price target on the stock. Separately, analysts at Craig Hallum downgraded shares of Alere 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. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Alere presently has an average rating of “Hold” and a consensus target price of $31.11.
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 $32.00 and a 200-day moving average of $27.1. The company’s market cap is $2.799 billion.
Alere (NYSE:ALR) last released its earnings data on Tuesday, October 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.06. The company had revenue of $753.90 million for the quarter, compared to the consensus estimate of $737.66 million. During the same quarter last year, the company posted $0.43 earnings per share. Alere’s revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that Alere will post $2.34 earnings per share for the current fiscal year.
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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