Alere Price Target Cut to $40.00 by Analysts at Jefferies Group (ALR)
Jefferies Group reduced their target price on shares of Alere (NYSE:ALR) from $45.00 to $40.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective points to a potential upside of 11.42% from the stock’s previous close.
Shares of Alere (NYSE:ALR) traded up 3.31% on Tuesday, hitting $35.90. The stock had a trading volume of 1,552,890 shares. Alere has a one year low of $29.61 and a one year high of $40.80. The stock’s 50-day moving average is $38.13 and its 200-day moving average is $36.34. The company’s market cap is $2.965 billion.
Alere (NYSE:ALR) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by $0.16. The company had revenue of $738.30 million for the quarter, compared to the consensus estimate of $747.55 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts expect that Alere will post $2.52 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ALR. Analysts at Leerink Swann cut their price target on shares of Alere from $40.00 to $38.00 in a research note on Tuesday. They now have a “market perform” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Alere from $50.00 to $45.00 in a research note on Tuesday. Finally, analysts at Zacks upgraded shares of Alere from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 10th. They now have a $38.70 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $41.95.
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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