Alere Inc. (ALR) Holdings Trimmed by Prudential PLC
Prudential PLC lessened its stake in shares of Alere Inc. (NYSE:ALR) by 71.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,200 shares of the medical research company’s stock after selling 428,700 shares during the quarter. Prudential PLC owned about 0.19% of Alere worth $8,392,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Airain ltd grew its holdings in Alere by 97.7% during the 2nd quarter. Airain ltd now owns 57,000 shares of the medical research company’s stock valued at $2,861,000 after buying an additional 28,172 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in Alere during the 2nd quarter valued at about $315,000. Vanguard Group Inc. grew its holdings in Alere by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 6,942,162 shares of the medical research company’s stock valued at $275,813,000 after buying an additional 334,936 shares in the last quarter. Cowen Inc. grew its holdings in Alere by 1,232.5% during the 2nd quarter. Cowen Inc. now owns 1,361,342 shares of the medical research company’s stock valued at $68,326,000 after buying an additional 1,259,181 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new position in Alere during the 2nd quarter valued at about $1,330,000. 89.33% of the stock is owned by institutional investors and hedge funds.
ALR has been the subject of a number of recent analyst reports. BidaskClub lowered Alere from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Canaccord Genuity reaffirmed a “hold” rating and set a $51.00 target price on shares of Alere in a report on Tuesday, September 19th. Finally, Zacks Investment Research lowered Alere from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $48.00.
Shares of Alere Inc. (ALR) opened at 50.99 on Friday. The company’s market cap is $4.47 billion. The stock’s 50 day moving average price is $49.93 and its 200-day moving average price is $48.47. Alere Inc. has a 12 month low of $34.41 and a 12 month high of $51.00.
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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