Alere Inc. (ALR) Given Consensus Recommendation of “Hold” by Analysts
Alere Inc. (NYSE:ALR) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.00.
A number of brokerages have recently issued reports on ALR. BidaskClub lowered Alere from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Zacks Investment Research raised Alere from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. BTIG Research reaffirmed a “hold” rating on shares of Alere in a research report on Wednesday, May 24th. Canaccord Genuity lowered Alere from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 target price on shares of Alere in a research report on Thursday, June 1st.
Alere (ALR) opened at 49.76 on Friday. The stock’s market cap is $4.36 billion. The stock has a 50 day moving average price of $49.61 and a 200-day moving average price of $47.13. Alere has a 12 month low of $34.41 and a 12 month high of $50.63.
Several institutional investors have recently made changes to their positions in the company. Banco BTG Pactual S.A. acquired a new stake in shares of Alere during the second quarter worth $4,999,000. The Manufacturers Life Insurance Company raised its position in Alere by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,585 shares of the medical research company’s stock valued at $130,000 after buying an additional 179 shares during the period. Alpine Global Management LLC acquired a new position in Alere during the second quarter valued at $5,019,000. CNH Partners LLC raised its position in Alere by 6.3% during the second quarter. CNH Partners LLC now owns 2,120,458 shares of the medical research company’s stock valued at $106,426,000 after buying an additional 125,121 shares during the period. Finally, York Capital Management Global Advisors LLC raised its position in Alere by 469.6% during the second quarter. York Capital Management Global Advisors LLC now owns 1,755,511 shares of the medical research company’s stock valued at $88,109,000 after buying an additional 1,447,307 shares during the period. 88.76% of the stock is currently owned by institutional investors.
Alere Company Profile
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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