Alere Inc. (NYSE:ALR) had its target price trimmed by Canaccord Genuity from $53.00 to $50.00 in a research note released on Monday morning. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on ALR. Leerink Swann reiterated a buy rating and set a $56.00 price target on shares of Alere in a report on Tuesday, July 12th. Jefferies Group restated a hold rating on shares of Alere in a report on Tuesday, July 12th. BTIG Research restated a hold rating on shares of Alere in a report on Friday, July 15th. Zacks Investment Research cut shares of Alere from a hold rating to a strong sell rating in a report on Wednesday, October 19th. Finally, Goldman Sachs Group Inc. dropped their target price on shares of Alere from $45.00 to $42.00 and set a neutral rating on the stock in a report on Friday, November 4th. Four equities research 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 Buy and an average price target of $51.33.

Alere (NYSE:ALR) opened at 35.13 on Monday. The company’s market cap is $3.05 billion. Alere has a 12-month low of $31.47 and a 12-month high of $54.13. The stock has a 50 day moving average of $42.76 and a 200 day moving average of $41.41.

Alere (NYSE:ALR) last posted its quarterly earnings results on Friday, November 4th. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.35. Alere had a negative net margin of 1.64% and a positive return on equity of 8.01%. The firm had revenue of $582 million for the quarter, compared to analysts’ expectations of $605.50 million. During the same quarter in the previous year, the company earned ($0.10) EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts expect that Alere will post $2.07 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Alere by 3.7% in the second quarter. Vanguard Group Inc. now owns 6,236,043 shares of the company’s stock valued at $259,918,000 after buying an additional 220,207 shares during the last quarter. Iridian Asset Management LLC CT increased its stake in shares of Alere by 14.4% in the second quarter. Iridian Asset Management LLC CT now owns 3,383,943 shares of the company’s stock valued at $141,043,000 after buying an additional 425,662 shares during the last quarter. CNH Partners LLC increased its stake in shares of Alere by 10.4% in the second quarter. CNH Partners LLC now owns 3,182,963 shares of the company’s stock valued at $132,666,000 after buying an additional 298,954 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Alere by 115.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,313,104 shares of the company’s stock valued at $100,019,000 after buying an additional 1,238,439 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Alere by 2.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,182,799 shares of the company’s stock valued at $94,384,000 after buying an additional 55,108 shares during the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

About Alere

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.

5 Day Chart for NYSE:ALR

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