Other equities analysts have also recently issued reports about the company. Leerink Swann reaffirmed a buy rating and issued a $56.00 price target on shares of Alere in a research note on Tuesday, July 12th. BTIG Research reiterated a buy rating and issued a $48.00 price objective on shares of Alere in a research report on Thursday, September 1st. Finally, Jefferies Group reiterated a hold rating on shares of Alere in a research report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Alere currently has a consensus rating of Hold and a consensus price target of $51.75.
Shares of Alere (NYSE:ALR) opened at 43.50 on Thursday. The stock’s market capitalization is $3.77 billion. Alere has a 52-week low of $31.47 and a 52-week high of $54.13. The company has a 50-day moving average price of $41.73 and a 200-day moving average price of $42.59.
Alere (NYSE:ALR) last announced its quarterly earnings results on Tuesday, September 6th. The company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by $1.04. The company earned $611.10 million during the quarter. Alere had a positive return on equity of 8.40% and a negative net margin of 2.30%. Alere’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, equities analysts anticipate that Alere will post $2.07 earnings per share for the current year.
Several large investors have recently modified their holdings of the company. Calvert Investment Management Inc. acquired a new stake in shares of Alere during the second quarter worth $220,000. Schwab Charles Investment Management Inc. raised its stake in shares of Alere by 5.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 321,723 shares of the company’s stock worth $13,410,000 after buying an additional 17,814 shares in the last quarter. Amalgamated Bank raised its stake in shares of Alere by 10.6% in the second quarter. Amalgamated Bank now owns 11,068 shares of the company’s stock worth $444,000 after buying an additional 1,061 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Alere by 7.8% in the second quarter. Legal & General Group Plc now owns 34,348 shares of the company’s stock worth $1,431,000 after buying an additional 2,488 shares in the last quarter. Finally, GLG Partners LP raised its stake in Alere by 24.9% in the second quarter. GLG Partners LP now owns 507,068 shares of the company’s stock valued at $21,135,000 after buying an additional 100,962 shares in the last quarter. Hedge funds and other institutional investors own 92.18% of the company’s stock.
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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