Alere Inc. (ALR) Receives Average Recommendation of “Buy” from Brokerages
Alere Inc. (NYSE:ALR) has earned an average rating of “Buy” from the eight research firms that are currently covering the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $49.00.
ALR has been the topic of a number of recent research reports. Canaccord Genuity reduced their price objective on 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 “hold” rating and set a $60.00 price objective on shares of Alere in a research note on Thursday, July 28th. Zacks Investment Research cut Alere from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 19th. Jefferies Group reaffirmed a “hold” rating on shares of Alere in a research note on Thursday, August 4th. Finally, Goldman Sachs Group Inc. reduced their price objective on Alere from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, November 4th.
Hedge funds have recently modified their holdings of the company. York Capital Management Global Advisors LLC bought a new stake in shares of Alere during the first quarter valued at approximately $67,025,000. Cheyne Capital Management UK LLP raised its stake in shares of Alere by 10.9% in the second quarter. Cheyne Capital Management UK LLP now owns 844,656 shares of the company’s stock valued at $35,205,000 after buying an additional 82,800 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Alere by 17.3% in the second quarter. UBS Asset Management Americas Inc. now owns 78,626 shares of the company’s stock valued at $3,277,000 after buying an additional 11,592 shares during the period. BlackRock Inc. raised its stake 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. Finally, Gabelli Securities Inc. raised its stake in shares of Alere by 28.8% in the second quarter. Gabelli Securities Inc. now owns 434,018 shares of the company’s stock valued at $18,090,000 after buying an additional 96,996 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.
Shares of Alere (NYSE:ALR) opened at 38.95 on Tuesday. The company’s market capitalization is $3.39 billion. Alere has a 12 month low of $31.47 and a 12 month high of $54.13. The company has a 50-day moving average price of $42.29 and a 200-day moving average price of $41.31.
Alere (NYSE:ALR) last announced its quarterly earnings data on Friday, November 4th. The company reported $0.19 earnings per share (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 company had revenue of $582 million for the quarter, compared to the consensus estimate of $605.50 million. During the same period last year, the business posted ($0.10) earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Alere will post $1.98 EPS for the current year.
Alere Inc is a provider of health information through diagnostic tests. The Company’s segments include professional diagnostics, consumer diagnostics, and corporate and other. 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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