Shares of Alere Inc. (NYSE:ALR) have been given a consensus rating of “Hold” by the nine research firms that are presently covering the firm. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $50.40.
Several brokerages recently commented on ALR. Canaccord Genuity decreased their price objective on shares of Alere from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, September 29th. BTIG Research reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Alere in a research report on Thursday, September 1st. Jefferies Group reaffirmed a “hold” rating on shares of Alere in a research report on Thursday, August 4th. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Alere in a research report on Tuesday, July 12th.
Alere (NYSE:ALR) opened at 42.95 on Tuesday. The company’s market capitalization is $3.73 billion. The firm has a 50 day moving average of $42.32 and a 200-day moving average of $42.41. Alere has a 52-week low of $31.47 and a 52-week 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 Thomson Reuters’ consensus estimate of $0.58 by $1.04. The company 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 was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities analysts expect that Alere will post $2.07 EPS for the current year.
Several institutional investors have recently bought and sold shares of the stock. Teachers Advisors Inc. raised its position in Alere by 6.1% in the first quarter. Teachers Advisors Inc. now owns 93,525 shares of the company’s stock valued at $4,733,000 after buying an additional 5,351 shares during the period. BlackRock Inc. raised its position in Alere by 189.9% in the first quarter. BlackRock Inc. now owns 10,080 shares of the company’s stock valued at $510,000 after buying an additional 6,603 shares during the period. BlackRock Group LTD raised its position in Alere by 22.6% in the first quarter. BlackRock Group LTD now owns 68,943 shares of the company’s stock valued at $3,490,000 after buying an additional 12,731 shares during the period. Alpine Partners VI LLC purchased a new position in Alere during the first quarter valued at $787,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Alere during the first quarter valued at $16,610,000. 92.18% of the stock is owned by hedge funds and other institutional investors.
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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