Alere PT Lowered to $45.00 (ALR)
Analysts at Canaccord Genuity reduced their price target on shares of Alere (NYSE:ALR) from $50.00 to $45.00 in a research report issued to clients and investors on Tuesday. Canaccord Genuity’s target price points to a potential upside of 25.35% from the stock’s previous close.
Alere (NYSE:ALR) traded up 3.31% on Tuesday, hitting $35.90. 1,552,890 shares of the company’s stock traded hands. Alere has a 52-week low of $29.61 and a 52-week high of $40.80. The stock has a 50-day moving average of $38.13 and a 200-day moving average of $36.34. The company’s market cap is $2.965 billion.
Alere (NYSE:ALR) last released its 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 firms have also recently commented on ALR. 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target 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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