Alere Inc. (NYSE:ALR) had its price objective decreased by equities researchers at Canaccord Genuity from $56.00 to $53.00 in a research report issued on Thursday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 22.69% from the stock’s current price.
Several other research firms also recently commented on ALR. 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. Jefferies Group reiterated a “hold” rating on shares of Alere in a research note on Tuesday, July 12th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $51.75.
Shares of Alere (NYSE:ALR) traded down 0.23% on Thursday, reaching $43.10. The company had a trading volume of 144,946 shares. The stock’s 50 day moving average is $41.36 and its 200 day moving average is $42.85. Alere has a 52 week low of $31.47 and a 52 week high of $54.13. The firm’s market capitalization is $3.74 billion.
Alere (NYSE:ALR) last released its quarterly earnings results on Tuesday, September 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $1.04. Alere had a positive return on equity of 8.40% and a negative net margin of 2.30%. The firm earned $611.10 million during the quarter. During the same quarter in the prior year, the company earned $0.54 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts anticipate that Alere will post $2.08 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its position in Alere by 10.2% in the second quarter. American International Group Inc. now owns 2,752 shares of the company’s stock worth $115,000 after buying an additional 254 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Alere during the second quarter worth $125,000. Nisa Investment Advisors LLC boosted its position in Alere by 6.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the company’s stock worth $138,000 after buying an additional 200 shares during the last quarter. Signaturefd LLC boosted its position in Alere by 36.0% in the second quarter. Signaturefd LLC now owns 3,400 shares of the company’s stock worth $142,000 after buying an additional 900 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Alere by 6.1% in the second quarter. Prudential Financial Inc. now owns 5,215 shares of the company’s stock worth $217,000 after buying an additional 300 shares during the last quarter. 92.18% of the stock is owned by institutional investors.
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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