Shares of Alere Inc. (NYSE:ALR) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $48.00.

ALR has been the topic of several research reports. Zacks Investment Research upgraded Alere from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. 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 issued a $51.00 target price on shares of Alere in a research note on Monday, May 22nd. Craig Hallum lowered Alere from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Finally, BidaskClub lowered Alere from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th.

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Shares of Alere (NYSE:ALR) traded up 1.20% during midday trading on Wednesday, hitting $48.87. 1,630,380 shares of the stock were exchanged. The stock’s market cap is $4.28 billion. Alere has a one year low of $34.41 and a one year high of $50.63. The stock’s 50-day moving average price is $49.89 and its 200 day moving average price is $46.14.

Several hedge funds and other institutional investors have recently bought and sold shares of ALR. The Manufacturers Life Insurance Company raised its position in 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 valued at $130,000 after buying an additional 179 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Alere by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the medical research company’s stock valued at $155,000 after buying an additional 321 shares during the period. Jane Street Group LLC raised its position in Alere by 104.6% in the first quarter. Jane Street Group LLC now owns 5,090 shares of the medical research company’s stock valued at $202,000 after buying an additional 115,090 shares during the period. Prudential Financial Inc. raised its position in Alere by 5.8% in the second quarter. Prudential Financial Inc. now owns 5,515 shares of the medical research company’s stock valued at $277,000 after buying an additional 300 shares during the period. Finally, Howard Hughes Medical Institute bought a new position in Alere during the second quarter valued at $315,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Alere (NYSE:ALR)

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