Alere Inc. (NYSE:ALR) shares gapped up prior to trading on Friday . The stock had previously closed at $37.59, but opened at $39.45. Alere shares last traded at $42.95, with a volume of 3,199,925 shares.

Several research analysts recently issued reports on the company. Canaccord Genuity reissued a “hold” rating on shares of Alere in a research note on Saturday, April 30th. Craig Hallum raised Alere from a “hold” rating to a “buy” rating in a research note on Friday, April 29th. Leerink Swann raised Alere from a “market perform” rating to an “outperform” rating and set a $56.00 price objective on the stock in a research note on Thursday, April 28th. BTIG Research reissued a “neutral” rating on shares of Alere in a research note on Friday. Finally, Jefferies Group reissued a “hold” rating on shares of Alere in a research note on Tuesday, July 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Alere currently has an average rating of “Hold” and a consensus target price of $52.38.

The firm has a market capitalization of $3.76 billion and a PE ratio of 11.52. The company’s 50 day moving average is $41.70 and its 200 day moving average is $45.07.

Several hedge funds have recently added to or reduced their stakes in ALR. GSA Capital Partners LLP raised its stake in Alere by 249.0% in the fourth quarter. GSA Capital Partners LLP now owns 25,803 shares of the company’s stock valued at $1,009,000 after buying an additional 18,409 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. Marshall Wace LLP purchased a new stake in shares of Alere during the fourth quarter worth about $4,585,000. Tamarack Advisers LP purchased a new stake in shares of Alere during the fourth quarter worth about $8,795,000. Finally, Gamco Investors INC. ET AL raised its stake in shares of Alere by 0.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 235,430 shares of the company’s stock worth $9,203,000 after buying an additional 2,000 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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