Emerald Acquisition Ltd. purchased a new position in Alere Inc. (NYSE:ALR) during the second quarter, Holdings Channel reports. The fund purchased 17,401 shares of the company’s stock, valued at approximately $725,000.
Other institutional investors have also added to or reduced their stakes in the company. Magnetar Financial LLC acquired a new position in Alere during the first quarter worth $72,998,000. Springbok Capital Management LLC boosted its position in Alere by 3,492.3% in the first quarter. Springbok Capital Management LLC now owns 94,011 shares of the company’s stock worth $4,758,000 after buying an additional 91,394 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in Alere during the first quarter worth $44,731,000. Opera Trading Capital acquired a new position in Alere during the first quarter worth $1,240,000. Finally, Integre Asset Management LLC boosted its position in Alere by 90.6% in the first quarter. Integre Asset Management LLC now owns 165,000 shares of the company’s stock worth $8,351,000 after buying an additional 78,442 shares during the last quarter. 92.18% of the stock is owned by institutional investors.
Alere Inc. (NYSE:ALR) traded up 0.49% during midday trading on Friday, hitting $43.16. The stock had a trading volume of 705,605 shares. The firm’s market cap is $3.74 billion. The stock has a 50-day moving average price of $42.39 and a 200 day moving average price of $42.36. Alere Inc. has a 12-month low of $31.47 and a 12-month high of $54.13.
Alere (NYSE:ALR) last announced its quarterly earnings data on Tuesday, September 6th. The company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by $1.04. The firm earned $611.10 million during 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 period in the prior year, the firm posted $0.54 EPS. On average, equities analysts anticipate that Alere Inc. will post $2.07 earnings per share for the current fiscal year.
Several equities research analysts have commented on the company. Canaccord Genuity cut their price objective on Alere from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, September 29th. BTIG Research reiterated a “buy” rating and set a $48.00 price objective on shares of Alere in a research note on Thursday, August 18th. Leerink Swann reiterated a “buy” rating and set a $56.00 price objective on shares of Alere in a research note on Tuesday, July 12th. Finally, Jefferies Group reiterated a “hold” rating on shares of Alere in a research note on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $51.75.
Alere Company Profile
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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