Alere Inc. (NYSE:ALR) has been given a consensus rating of “Hold” by the nine brokerages that are covering the firm. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $50.40.
ALR has been the subject of several recent research reports. Leerink Swann reiterated a “buy” rating and set a $56.00 price target on shares of Alere in a report on Tuesday, July 12th. Canaccord Genuity upgraded Alere from a “hold” rating to a “buy” rating and upped their price target for the stock from $44.00 to $56.00 in a report on Friday, July 15th. BTIG Research reiterated a “buy” rating and set a $48.00 price target on shares of Alere in a report on Thursday, September 1st. Finally, Jefferies Group reiterated a “hold” rating on shares of Alere in a report on Thursday, August 4th.
Several hedge funds and other institutional investors have recently modified their holdings of 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 in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Alere during the second quarter worth approximately $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 in 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 in 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 in the last quarter. 92.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alere (NYSE:ALR) opened at 43.16 on Tuesday. Alere has a 12-month low of $31.47 and a 12-month high of $54.13. The stock’s 50 day moving average price is $42.39 and its 200-day moving average price is $42.36. The firm’s market cap is $3.74 billion.
Alere (NYSE:ALR) last released its quarterly earnings data on Tuesday, September 6th. The company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $1.04. The firm 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 firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. On average, analysts predict that Alere will post $2.07 earnings per share for the current fiscal year.
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.
Receive News & Ratings for Alere Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alere Inc. and related companies with MarketBeat.com's FREE daily email newsletter.