Alere Inc. (NYSE:ALR)‘s stock had its “hold” rating reissued by analysts at Canaccord Genuity in a note issued to investors on Tuesday. They presently have a $51.00 target price on the medical research company’s stock. Canaccord Genuity’s target price indicates a potential upside of 0.99% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of Alere from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Zacks Investment Research raised shares of Alere from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 price objective on shares of Alere in a research note on Thursday, June 1st. Finally, BTIG Research reaffirmed a “hold” rating on shares of Alere in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Alere presently has an average rating of “Hold” and a consensus price target of $48.00.

Shares of Alere (NYSE ALR) traded down 0.10% on Tuesday, hitting $50.45. The company had a trading volume of 580,123 shares. The company has a 50 day moving average of $49.61 and a 200-day moving average of $47.44. Alere has a 12-month low of $34.41 and a 12-month high of $50.64. The company’s market cap is $4.42 billion.

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Several hedge funds have recently added to or reduced their stakes in ALR. Goldman Sachs Group Inc. lifted its stake in shares of Alere by 266.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,797,035 shares of the medical research company’s stock valued at $140,383,000 after purchasing an additional 2,033,824 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Alere by 352.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,231,924 shares of the medical research company’s stock valued at $112,020,000 after purchasing an additional 1,738,600 shares during the last quarter. Farallon Capital Management LLC lifted its stake in shares of Alere by 54.7% in the 2nd quarter. Farallon Capital Management LLC now owns 4,350,000 shares of the medical research company’s stock valued at $218,327,000 after purchasing an additional 1,537,500 shares during the last quarter. York Capital Management Global Advisors LLC lifted its stake in shares of Alere by 469.6% in the 2nd 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 purchasing an additional 1,447,307 shares during the last quarter. Finally, Cowen Inc. lifted its stake in shares of Alere by 1,232.5% in the 2nd quarter. Cowen Inc. now owns 1,361,342 shares of the medical research company’s stock valued at $68,326,000 after purchasing an additional 1,259,181 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Alere (NYSE:ALR)

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