Insider Selling: Dave Teitel Sells 10,000 Shares of Alere Stock (ALR)
Alere (NYSE:ALR) CFO Dave Teitel unloaded 10,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $35.07, for a total value of $350,700.00. Following the sale, the chief financial officer now directly owns 5,002 shares in the company, valued at approximately $175,420. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Alere (NYSE:ALR) opened at 35.01 on Wednesday. Alere has a 1-year low of $30.14 and a 1-year high of $40.80. The stock’s 50-day moving average is $37.49 and its 200-day moving average is $36.1. The company’s market cap is $2.909 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. On average, analysts predict that Alere will post $2.23 earnings per share for the current fiscal year.
A number of research firms have recently commented on ALR. Analysts at Jefferies Group cut their price target on shares of Alere from $45.00 to $40.00 in a research note on Tuesday, August 5th. They now have a “buy” rating on the stock. Separately, analysts at Leerink Swann cut their price target on shares of Alere from $40.00 to $38.00 in a research note on Tuesday, August 5th. They now have a “market perform” rating on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Alere from $50.00 to $45.00 in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $42.60.
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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