Alere Inc. Sets New 1-Year High at $38.53 (ALR)
Shares of Alere (NYSE:ALR) hit a new 52-week high on Wednesday, Analyst Ratings Net reports. The company traded as high as $38.53 and last traded at $38.48, with a volume of 846,950 shares trading hands. The stock had previously closed at $36.25.
A number of research firms have recently commented on ALR. Analysts at JMP Securities initiated coverage on shares of Alere in a research note to investors on Wednesday, December 18th. They set an “outperform” rating and a $45.00 price target on the stock. Analysts at Jefferies Group raised their price target on shares of Alere to $50.00 in a research note to investors on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $35.10.
Alere has a one year low of $20.55 and a one year high of $38.67. The stock’s 50-day moving average is $34.54 and its 200-day moving average is $31.72. The company’s market cap is $3.152 billion.
Alere (NYSE:ALR) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts expect that Alere will post $2.35 EPS 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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