Alere Inc. (NYSE:ALR) – Stock analysts at Jefferies Group issued their Q3 2016 earnings per share estimates for shares of Alere in a research report issued to clients and investors on Wednesday. Jefferies Group analyst R. Denhoy anticipates that the firm will earn $0.45 per share for the quarter. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Alere’s Q4 2016 earnings at $0.53 EPS, FY2016 earnings at $1.71 EPS, FY2017 earnings at $2.40 EPS and FY2018 earnings at $2.97 EPS.
Alere (NYSE:ALR) last posted its quarterly earnings results on Tuesday, September 6th. The company reported ($0.46) earnings per share for the quarter, missing the Zacks’ 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 company earned $611.10 million during the quarter. During the same quarter in the previous year, the business earned $0.54 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year.
A number of other brokerages have also weighed in on ALR. BTIG Research reissued a “buy” rating and issued a $48.00 price target on shares of Alere in a report on Thursday, August 18th. Canaccord Genuity raised shares of Alere from a “hold” rating to a “buy” rating and raised their price target for the company from $44.00 to $56.00 in a report on Friday, July 15th. Finally, Leerink Swann reissued a “buy” rating and issued a $56.00 price target on shares of Alere in a report on Tuesday, July 12th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $52.13.
Alere (NYSE:ALR) opened at 43.15 on Monday. Alere has a 1-year low of $31.47 and a 1-year high of $54.13. The firm’s market capitalization is $3.74 billion. The stock has a 50 day moving average of $41.10 and a 200-day moving average of $42.92.
A number of institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted its position in shares of 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 acquired a new position in shares of Alere during the second quarter worth about $125,000. Nisa Investment Advisors LLC boosted its position 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 last quarter. Signaturefd LLC boosted its position 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 last quarter. Finally, Prudential Financial Inc. boosted its position in shares of 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 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 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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