Alere Inc. (NYSE:ALR) traded up 2.2% during mid-day trading on Wednesday . The stock traded as high as $39.88 and last traded at $39.47, with a volume of 480,056 shares traded. The stock had previously closed at $38.61.

Several equities research analysts have issued reports on the stock. Canaccord Genuity restated a “hold” rating on shares of Alere in a research report on Saturday, April 30th. Craig Hallum upgraded shares of Alere from a “hold” rating to a “buy” rating in a research report on Friday, April 29th. Leerink Swann upgraded shares of Alere from a “market perform” rating to an “outperform” rating and set a $56.00 price objective for the company in a research report on Thursday, April 28th. Jefferies Group restated a “hold” rating on shares of Alere in a research report on Tuesday. Finally, BTIG Research downgraded shares of Alere from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 15th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Alere currently has an average rating of “Hold” and an average target price of $52.38.

The stock has a market capitalization of $3.40 billion and a price-to-earnings ratio of 10.40. The company’s 50-day moving average is $41.71 and its 200 day moving average is $45.12.

A number of large investors have recently modified their holdings of the company. Jennison Associates LLC increased its stake in shares of Alere by 124.1% in the fourth quarter. Jennison Associates LLC now owns 1,009,883 shares of the company’s stock worth $39,476,000 after buying an additional 559,240 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Alere during the fourth quarter worth about $1,751,000. Diamond Hill Capital Management Inc. increased its stake in shares of Alere by 12.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,306,319 shares of the company’s stock worth $90,154,000 after buying an additional 248,224 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Alere during the fourth quarter worth about $4,585,000. Finally, GSA Capital Partners LLP increased its stake in shares of Alere by 249.0% in the fourth quarter. GSA Capital Partners LLP now owns 25,803 shares of the company’s stock worth $1,009,000 after buying an additional 18,409 shares during the last quarter.

Alere Inc is a provider of health information through diagnostic tests. The Company operates through professional diagnostics, patient self-testing, consumer diagnostics and, corporate and other segments. 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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