LMR Partners LLP boosted its position in Alere Inc. (NYSE:ALR) by 63.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,000 shares of the company’s stock after buying an additional 23,291 shares during the period. LMR Partners LLP’s holdings in Alere were worth $2,501,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Magnetar Financial LLC bought a new position in Alere during the first quarter worth $72,998,000. York Capital Management Global Advisors LLC bought a new position in Alere during the first quarter worth $67,025,000. Orbis Allan Gray Ltd bought a new position in Alere during the first quarter worth $44,731,000. Goldman Sachs Group Inc. boosted its position in Alere by 409.8% in the first quarter. Goldman Sachs Group Inc. now owns 872,866 shares of the company’s stock worth $44,176,000 after buying an additional 701,637 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Alere during the first quarter worth $16,610,000. Institutional investors and hedge funds own 92.18% of the company’s stock.
Shares of Alere Inc. (NYSE:ALR) traded up 0.41% during midday trading on Wednesday, reaching $43.68. The company’s stock had a trading volume of 332,991 shares. The company’s market capitalization is $3.79 billion. The stock has a 50 day moving average price of $41.73 and a 200-day moving average price of $42.59. Alere Inc. has a 52-week low of $31.47 and a 52-week high of $54.13.
Alere (NYSE:ALR) last issued its quarterly earnings data 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 had revenue of $611.10 million for the quarter. Alere had a negative net margin of 2.30% and a positive return on equity of 8.40%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 earnings per share. Equities research analysts expect that Alere Inc. will post $2.07 EPS for the current year.
ALR has been the topic of a number of recent analyst reports. Leerink Swann reaffirmed a “buy” rating and issued a $56.00 target price on shares of Alere in a research report on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating on shares of Alere in a research report on Tuesday, July 12th. Canaccord Genuity raised 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 research report on Friday, July 15th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Alere in a research report on Friday, July 15th. 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 currently has a consensus rating of “Hold” and a consensus target price of $51.75.
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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