Alere Inc. (ALR) Given Consensus Recommendation of “Hold” by Analysts
Alere Inc. (NYSE:ALR) has received a consensus rating of “Hold” from the nine brokerages that are covering the company. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $50.40.
A number of research analysts recently weighed in on ALR shares. BTIG Research restated a “hold” rating and set a $60.00 price objective on shares of Alere in a research report on Thursday, July 28th. Canaccord Genuity lowered their price objective on shares of Alere from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, September 29th. Leerink Swann reiterated a “buy” rating and issued a $56.00 price target on shares of Alere in a research report on Tuesday, July 12th. Finally, Jefferies Group reiterated a “hold” rating on shares of Alere in a research report on Tuesday, July 12th.
Alere (NYSE:ALR) traded down 1.84% on Tuesday, hitting $42.79. 401,645 shares of the stock were exchanged. The firm’s market cap is $3.71 billion. Alere has a 12 month low of $31.47 and a 12 month high of $54.13. The company has a 50-day moving average of $42.10 and a 200 day moving average of $42.40.
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Alere (NYSE:ALR) last issued its quarterly earnings data on Tuesday, September 6th. The company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $1.04. The company had revenue of $611.10 million for the quarter. Alere had a negative net margin of 2.30% and a positive return on equity of 8.40%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. Equities research analysts expect that Alere will post $2.07 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC purchased a new stake in shares of Alere during the second quarter worth about $68,306,000. Magnetar Financial LLC bought a new position in Alere during the first quarter valued at $72,998,000. York Capital Management Global Advisors LLC bought a new position in Alere during the first quarter valued at $67,025,000. Orbis Allan Gray Ltd bought a new position in Alere during the first quarter valued at $44,731,000. Finally, Marshall Wace LLP boosted its position in Alere by 1,291.6% in the second quarter. Marshall Wace LLP now owns 912,050 shares of the company’s stock valued at $38,015,000 after buying an additional 846,510 shares during the last quarter. 92.18% of the stock is owned by hedge funds and other institutional investors.
Alere Inc is a provider of health information through diagnostic tests. The Company operates through professional diagnostics, patient self-testing, consumer diagnostics and, corporate and other segments. The professional diagnostics segment includes an array of diagnostic test products and other in vitro diagnostic tests marketed to medical professionals and laboratories for detection of diseases and conditions within its areas of focus.
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