Alere Inc. (NYSE:ALR) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totalling 6,118,879 shares, an increase of 84.0% from the July 31st total of 3,325,963 shares. Based on an average trading volume of 1,846,248 shares, the days-to-cover ratio is presently 3.3 days. Approximately 7.1% of the company’s stock are short sold.

Alere (NYSE ALR) opened at 49.22 on Thursday. The firm’s market cap is $4.31 billion. Alere has a 12-month low of $34.41 and a 12-month high of $50.63. The stock’s 50 day moving average is $49.89 and its 200 day moving average is $46.14.

Several research firms have recently issued reports on ALR. BidaskClub downgraded shares of Alere from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Alere from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Jefferies Group LLC restated a “hold” rating and set a $51.00 price objective on shares of Alere in a report on Thursday, June 1st. Canaccord Genuity downgraded shares of Alere from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a report on Tuesday, June 6th. Finally, BTIG Research restated a “hold” rating on shares of Alere in a report on Wednesday, May 24th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $48.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALR. Vanguard Group Inc. increased its position in Alere by 0.9% in the second quarter. Vanguard Group Inc. now owns 7,006,208 shares of the medical research company’s stock worth $351,641,000 after buying an additional 64,046 shares in the last quarter. Farallon Capital Management LLC increased its position in Alere by 54.7% in the second quarter. Farallon Capital Management LLC now owns 4,350,000 shares of the medical research company’s stock worth $218,327,000 after buying an additional 1,537,500 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Alere by 266.5% in the second quarter. Goldman Sachs Group Inc. now owns 2,797,035 shares of the medical research company’s stock worth $140,383,000 after buying an additional 2,033,824 shares in the last quarter. Renaissance Technologies LLC increased its position in Alere by 352.4% in the second quarter. Renaissance Technologies LLC now owns 2,231,924 shares of the medical research company’s stock worth $112,020,000 after buying an additional 1,738,600 shares in the last quarter. Finally, CNH Partners LLC increased its position in Alere by 6.3% in the second quarter. CNH Partners LLC now owns 2,120,458 shares of the medical research company’s stock worth $106,426,000 after buying an additional 125,121 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

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About Alere

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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