UBS Asset Management Americas Inc. raised its position in shares of Alere Inc. (NYSE:ALR) by 17.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,626 shares of the company’s stock after buying an additional 11,592 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.09% of Alere worth $3,277,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. IBM Retirement Fund increased its position in shares of Alere by 1.8% in the second quarter. IBM Retirement Fund now owns 8,732 shares of the company’s stock worth $364,000 after buying an additional 157 shares in the last quarter. Nisa Investment Advisors LLC increased 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 in the last quarter. Utah Retirement Systems increased its position in shares of Alere by 3.3% in the second quarter. Utah Retirement Systems now owns 15,711 shares of the company’s stock worth $655,000 after buying an additional 500 shares in the last quarter. Signaturefd LLC increased 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 in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Alere during the second quarter worth $125,000. Institutional investors own 92.18% of the company’s stock.
Shares of Alere Inc. (NYSE:ALR) traded down 0.62% during midday trading on Tuesday, hitting $43.12. The company had a trading volume of 63,545 shares. The firm’s 50-day moving average is $41.63 and its 200-day moving average is $42.64. The firm’s market capitalization is $3.74 billion. Alere Inc. has a 12-month low of $31.47 and a 12-month high of $54.13.
Alere (NYSE:ALR) last issued its earnings results on Tuesday, September 6th. The company reported ($0.46) earnings per share (EPS) 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 had revenue of $611.10 million for the quarter. During the same quarter in the prior year, the business posted $0.54 EPS. The company’s revenue was down 2.0% on a year-over-year basis. On average, analysts predict that Alere Inc. will post $2.07 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on the company. BTIG Research reiterated a “buy” rating and issued a $48.00 target price on shares of Alere in a report on Thursday, August 18th. Jefferies Group reiterated a “hold” rating on shares of Alere in a report on Thursday, August 4th. Canaccord Genuity upgraded Alere from a “hold” rating to a “buy” rating and upped their target price for the company from $44.00 to $56.00 in a report on Friday, July 15th. Finally, Leerink Swann reiterated a “buy” rating and issued a $56.00 target price 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 issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $51.75.
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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