Alere Inc (ALR) Receives Consensus Rating of “Hold” from Brokerages
Shares of Alere Inc (NYSE:ALR) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $50.00.
ALR has been the topic of several research analyst reports. Jefferies Group LLC decreased their price target on shares of Alere from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Monday, April 17th. Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 price target (down previously from $52.00) on shares of Alere in a report on Monday, April 17th. Zacks Investment Research cut shares of Alere from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 19th. Craig Hallum cut shares of Alere from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Alere in a report on Monday, May 15th.
Shares of Alere (NYSE:ALR) remained flat at $49.97 during midday trading on Friday. 259,902 shares of the company’s stock traded hands. Alere has a 12-month low of $31.47 and a 12-month high of $50.08. The firm’s market cap is $4.35 billion. The company’s 50-day moving average is $48.77 and its 200 day moving average is $41.93.
A number of hedge funds and other institutional investors have recently made changes to their positions in ALR. CQS Cayman LP raised its position in shares of Alere by 440.0% in the third quarter. CQS Cayman LP now owns 67,500 shares of the medical research company’s stock valued at $2,919,000 after buying an additional 55,000 shares during the period. Empyrean Capital Partners LP bought a new position in shares of Alere during the third quarter valued at about $10,810,000. Russell Investments Group Ltd. bought a new position in shares of Alere during the fourth quarter valued at about $312,000. State Board of Administration of Florida Retirement System raised its position in shares of Alere by 0.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 130,986 shares of the medical research company’s stock valued at $5,105,000 after buying an additional 545 shares during the period. Finally, Mcclain Value Management LLC bought a new position in shares of Alere during the fourth quarter valued at about $3,104,000. Institutional investors own 91.82% of the company’s stock.
Alere Inc is a provider of health information through diagnostic tests. The Company’s segments include professional diagnostics, consumer diagnostics, and corporate and other. 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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