Analysts Set Alere Inc. (ALR) Target Price at $50.40
Alere Inc. (NYSE:ALR) has been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the firm. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $50.40.
A number of brokerages have recently weighed in on ALR. Canaccord Genuity cut their target price on shares of Alere from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, September 29th. BTIG Research reaffirmed a “buy” rating and set a $48.00 target price on shares of Alere in a research note on Thursday, August 18th. Leerink Swann reaffirmed a “buy” rating and set a $56.00 target price on shares of Alere in a research note on Tuesday, July 12th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Alere in a research note on Tuesday, July 12th.
Shares of Alere (NYSE:ALR) opened at 42.95 on Tuesday. The company’s market capitalization is $3.73 billion. Alere has a 12 month low of $31.47 and a 12 month high of $54.13. The firm has a 50-day moving average of $42.32 and a 200-day moving average of $42.41.
Alere (NYSE:ALR) last announced its earnings results on Tuesday, September 6th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. On average, equities analysts predict that Alere will post $2.07 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its position in shares of Alere by 6.1% in the first quarter. Teachers Advisors Inc. now owns 93,525 shares of the company’s stock valued at $4,733,000 after buying an additional 5,351 shares during the period. BlackRock Inc. boosted its position in shares of Alere by 189.9% in the first quarter. BlackRock Inc. now owns 10,080 shares of the company’s stock valued at $510,000 after buying an additional 6,603 shares during the period. BlackRock Group LTD boosted its position in shares of Alere by 22.6% in the first quarter. BlackRock Group LTD now owns 68,943 shares of the company’s stock valued at $3,490,000 after buying an additional 12,731 shares during the period. Alpine Partners VI LLC purchased a new position in shares of Alere during the first quarter valued at about $787,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Alere during the first quarter valued at about $16,610,000. 92.18% of the stock is owned by institutional investors and hedge funds.
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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