Alere Inc. (ALR) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Alere Inc. (NYSE:ALR) from a hold rating to a sell rating in a report released on Thursday morning.
According to Zacks, “Alere Inc., formerly known as Inverness Medical Innovations, Inc., provides products and services, which focus on infectious disease, cardiology, oncology, drugs of abuse and women’s health. Alere is headquartered in Waltham, Massachusetts. “
A number of other equities research analysts have also recently commented on the stock. BTIG Research restated a neutral rating on shares of Alere in a research note on Monday, May 15th. Canaccord Genuity restated a buy rating and set a $51.00 target price on shares of Alere in a research note on Monday, May 22nd. Craig Hallum lowered shares of Alere from a buy rating to a hold rating in a report on Monday, May 15th. BidaskClub lowered shares of Alere from a buy rating to a hold rating in a report on Sunday, July 16th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $51.00 price objective on shares of Alere in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company currently has an average rating of Hold and an average target price of $48.00.
Shares of Alere (NYSE:ALR) opened at 49.55 on Thursday. Alere has a 12 month low of $34.41 and a 12 month high of $50.63. The firm has a 50-day moving average of $50.09 and a 200 day moving average of $45.76. The company’s market cap is $4.34 billion.
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A number of large investors have recently made changes to their positions in ALR. The Manufacturers Life Insurance Company raised its stake in shares of Alere by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,585 shares of the medical research company’s stock worth $130,000 after buying an additional 179 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Alere by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the medical research company’s stock worth $155,000 after buying an additional 321 shares during the period. Jane Street Group LLC raised its stake in shares of Alere by 104.6% in the first quarter. Jane Street Group LLC now owns 5,090 shares of the medical research company’s stock worth $202,000 after buying an additional 115,090 shares during the period. Prudential Financial Inc. raised its stake in shares of Alere by 5.8% in the second quarter. Prudential Financial Inc. now owns 5,515 shares of the medical research company’s stock worth $277,000 after buying an additional 300 shares during the period. Finally, Howard Hughes Medical Institute bought a new stake in shares of Alere during the second quarter worth about $315,000. 80.53% of the stock is owned by institutional investors and hedge funds.
Alere Company Profile
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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