Kassirer Asset Management Corp lowered its stake in shares of Alere Inc. (NYSE:ALR) by 77.4% during the second quarter, Holdings Channel reports. The firm owned 5,050 shares of the company’s stock after selling 17,250 shares during the period. Kassirer Asset Management Corp’s holdings in Alere were worth $210,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Magnetar Financial LLC acquired a new stake in Alere during the first quarter valued at approximately $72,998,000. York Capital Management Global Advisors LLC acquired a new stake in Alere during the first quarter valued at approximately $67,025,000. Orbis Allan Gray Ltd acquired a new stake in Alere during the first quarter valued at approximately $44,731,000. Goldman Sachs Group Inc. boosted its stake in Alere by 409.8% in the first quarter. Goldman Sachs Group Inc. now owns 872,866 shares of the company’s stock valued at $44,176,000 after buying an additional 701,637 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Alere during the first quarter valued at approximately $16,610,000. 92.18% of the stock is currently owned by institutional investors.
Alere Inc. (NYSE:ALR) traded up 1.05% on Friday, hitting $43.24. The stock had a trading volume of 372,777 shares. The company’s market cap is $3.75 billion. Alere Inc. has a 52-week low of $31.47 and a 52-week high of $54.13. The company has a 50 day moving average price of $41.54 and a 200-day moving average price of $42.78.
Alere (NYSE:ALR) last announced its earnings results on Tuesday, September 6th. The company reported ($0.46) earnings per share 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 business had revenue of $611.10 million for the quarter. During the same quarter last year, the business posted $0.54 EPS. Alere’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Alere Inc. will post $2.07 earnings per share for the current year.
Several equities research analysts recently commented on ALR shares. BTIG Research reaffirmed a “buy” rating and set a $48.00 price objective on shares of Alere in a research report on Thursday, August 18th. Canaccord Genuity raised Alere from a “hold” rating to a “buy” rating and increased their target price for the company from $44.00 to $56.00 in a report on Friday, July 15th. Jefferies Group reissued a “hold” rating on shares of Alere in a report on Tuesday, July 12th. Finally, Leerink Swann reissued a “buy” rating and issued a $56.00 target price on shares of Alere in a report on Tuesday, July 12th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target 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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