Alere Inc. (NYSE:ALR) has earned an average recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $48.00.
ALR has been the topic of a number of research analyst reports. BidaskClub downgraded Alere from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 target price on shares of Alere in a report on Monday, May 22nd. Zacks Investment Research cut Alere from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 19th. BTIG Research reiterated a “neutral” rating on shares of Alere in a research note on Monday, May 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price target on shares of Alere in a research note on Thursday, June 1st.
Alere (NYSE ALR) traded up 0.08% on Friday, hitting $49.64. 731,000 shares of the stock were exchanged. The company’s market cap is $4.35 billion. Alere has a 52 week low of $34.41 and a 52 week high of $50.63. The company’s 50-day moving average is $50.20 and its 200-day moving average is $45.29.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Alere during the fourth quarter valued at $27,653,000. Vanguard Group Inc. raised its position in shares of Alere by 5.1% in the first quarter. Vanguard Group Inc. now owns 6,942,162 shares of the medical research company’s stock valued at $275,813,000 after buying an additional 334,936 shares during the period. Airain ltd raised its position in shares of Alere by 71.8% in the first quarter. Airain ltd now owns 28,828 shares of the medical research company’s stock valued at $1,145,000 after buying an additional 12,050 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Alere by 7.5% in the first quarter. Parametric Portfolio Associates LLC now owns 85,861 shares of the medical research company’s stock valued at $3,411,000 after buying an additional 6,002 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Alere during the fourth quarter valued at about $2,962,000. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
Alere Company Profile
Alere Inc is a provider of health information through diagnostic tests. The Company’s segments include professional diagnostics, consumer diagnostics, and corporate and other. 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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