Shares of Alere Inc. (NYSE:ALR) were up 19.5% on Thursday . The company traded as high as $39.45 and last traded at $37.60, with a volume of 6,629,097 shares traded. The stock had previously closed at $31.47.

A number of analysts have weighed in on ALR shares. Zacks Investment Research raised Alere from a “sell” rating to a “hold” rating in a research report on Monday, April 4th. BTIG Research reaffirmed a “hold” rating on shares of Alere in a research report on Friday, July 15th. Canaccord Genuity raised Alere from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $56.00 in a research report on Friday, July 15th. Leerink Swann raised Alere from a “market perform” rating to an “outperform” rating and set a $56.00 target price for the company in a research note on Thursday, April 28th. Finally, Jefferies Group reissued a “hold” rating on shares of Alere in a research note on Thursday, April 21st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Alere currently has an average rating of “Hold” and a consensus price target of $53.63.

The firm’s 50-day moving average is $41.28 and its 200-day moving average is $45.20. The stock has a market capitalization of $3.23 billion and a PE ratio of 9.91.

A number of institutional investors recently modified their holdings of ALR. GSA Capital Partners LLP increased its position 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. Trexquant Investment LP bought a new position in shares of Alere during the fourth quarter worth approximately $1,751,000. Marshall Wace LLP bought a new position in shares of Alere during the fourth quarter worth approximately $4,585,000. Diamond Hill Capital Management Inc. increased its position 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. Finally, Jennison Associates LLC increased its position 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.

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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