Ameriprise Financial Inc. lowered its position in shares of Alere Inc. (NYSE:ALR) by 42.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 114,727 shares of the company’s stock after selling 83,729 shares during the period. Ameriprise Financial Inc. owned approximately 0.13% of Alere worth $4,780,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in shares of Alere during the second quarter worth approximately $125,000. Nisa Investment Advisors LLC boosted its stake in shares of 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 period. Signaturefd LLC boosted its stake in shares of 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 period. Calvert Investment Management Inc. bought a new stake in shares of Alere during the second quarter worth approximately $220,000. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in shares of Alere during the second quarter worth approximately $236,000. Hedge funds and other institutional investors own 92.18% of the company’s stock.
Shares of Alere Inc. (NYSE:ALR) traded up 0.49% on Friday, reaching $43.16. The company had a trading volume of 705,605 shares. The company has a 50 day moving average price of $42.39 and a 200 day moving average price of $42.36. The stock’s market capitalization is $3.74 billion. Alere Inc. has a 52-week low of $31.47 and a 52-week high of $54.13.
Alere (NYSE:ALR) last announced its earnings results on Tuesday, September 6th. The company reported ($0.46) 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 had revenue of $611.10 million for the quarter. During the same quarter last year, the firm posted $0.54 earnings per share. Alere’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Alere Inc. will post $2.07 earnings per share for the current year.
A number of equities research analysts have commented on the company. BTIG Research reiterated a “hold” rating on shares of Alere in a report on Friday, July 15th. Jefferies Group reiterated a “hold” rating on shares of Alere in a report on Thursday, August 4th. Leerink Swann reiterated a “buy” rating and set a $56.00 target price on shares of Alere in a report on Tuesday, July 12th. Finally, Canaccord Genuity set a $56.00 target price on Alere and gave the company a “buy” rating in a report on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently 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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