Alere Inc. (ALR) Given a $53.00 Price Target by Canaccord Genuity Analysts
Alere Inc. (NYSE:ALR) received a $53.00 target price from analysts at Canaccord Genuity in a research report issued to clients and investors on Wednesday. The firm currently has a a “buy” rating on the stock. Canaccord Genuity’s target price indicates a potential upside of 25.00% from the stock’s previous close.
Other research analysts also recently issued reports about the stock. Jefferies Group reissued a “hold” rating on shares of Alere in a research report on Thursday, August 4th. Leerink Swann reissued a “buy” rating and issued a $56.00 target price on shares of Alere in a research report on Tuesday, July 12th. Finally, BTIG Research reissued a “hold” rating and issued a $60.00 target price on shares of Alere in a research report on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Alere has an average rating of “Hold” and an average price target of $51.75.
Shares of Alere (NYSE:ALR) traded up 2.22% during mid-day trading on Wednesday, reaching $43.34. 1,127,761 shares of the company were exchanged. Alere has a 12 month low of $31.47 and a 12 month high of $54.13. The company’s 50 day moving average price is $42.56 and its 200 day moving average price is $42.12. The firm’s market capitalization is $3.76 billion.
Alere (NYSE:ALR) last released its earnings results on Tuesday, September 6th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates 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 business earned $611.10 million during the quarter. During the same quarter in the prior year, the firm earned $0.54 EPS. Alere’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that Alere will post $2.07 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. American International Group Inc. increased its stake in Alere by 10.2% in the second quarter. American International Group Inc. now owns 2,752 shares of the company’s stock valued at $115,000 after buying an additional 254 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Alere during the second quarter valued at approximately $125,000. Nisa Investment Advisors LLC increased its stake in Alere by 6.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the company’s stock valued at $138,000 after buying an additional 200 shares in the last quarter. Signaturefd LLC increased its stake in Alere by 36.0% in the second quarter. Signaturefd LLC now owns 3,400 shares of the company’s stock valued at $142,000 after buying an additional 900 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Alere by 6.1% in the second quarter. Prudential Financial Inc. now owns 5,215 shares of the company’s stock valued at $217,000 after buying an additional 300 shares in the last quarter. 92.10% of the stock is owned by institutional investors.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.