Alere Receives B Credit Rating (ALR)
Alere (NYSE:ALR) has earned a “B” credit rating from analysts at Morningstar. The credit rating agency’s “B” rating indicates that the company is a high default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $42.60.
Shares of Alere (NYSE:ALR) traded up 0.14% during mid-day trading on Monday, hitting $35.45. The stock had a trading volume of 171,190 shares. Alere has a 52 week low of $30.14 and a 52 week high of $40.80. The stock has a 50-day moving average of $36.76 and a 200-day moving average of $36.1. The company’s market cap is $2.945 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 $2.23 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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