Alere Downgraded by Goldman Sachs to Sell (ALR)
Several other analysts have also recently commented on the stock. 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Alere currently has an average rating of “Hold” and an average target price of $42.60.
Shares of Alere (NYSE:ALR) opened at 36.24 on Wednesday. Alere has a 52-week low of $30.14 and a 52-week high of $40.80. The stock’s 50-day moving average is $36.6 and its 200-day moving average is $36.18. The company’s market cap is $3.011 billion.
Alere (NYSE:ALR) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.42 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue 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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