Alere Inc. (ALR) Sees Unusually-High Trading Volume
Alere Inc. (NYSE:ALR) saw strong trading volume on Monday . 2,221,470 shares changed hands during trading, an increase of 35% from the previous session’s volume of 1,647,608 shares.The stock last traded at $38.32 and had previously closed at $37.46.
Several analysts recently issued reports on the stock. Craig Hallum raised shares of Alere from a “hold” rating to a “buy” rating in a research note on Friday, April 29th. Leerink Swann raised 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 note on Thursday, April 28th. Canaccord Genuity reaffirmed a “hold” rating on shares of Alere in a research note on Saturday, April 30th. Jefferies Group reaffirmed a “hold” rating on shares of Alere in a research note on Tuesday, July 12th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Alere in a research note on Friday, July 15th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $53.63.
The company has a market cap of $3.32 billion and a PE ratio of 10.17. The company has a 50-day moving average of $40.38 and a 200 day moving average of $45.28.
Alere (NYSE:ALR) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.86. The company had revenue of $623 million for the quarter, compared to analysts’ expectations of $662.04 million. During the same period last year, the business earned $0.60 EPS. Equities research analysts anticipate that Alere Inc. will post $2.23 earnings per share for the current year.
A number of institutional investors have bought and sold shares of ALR. GSA Capital Partners LLP increased its position 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 period. Trexquant Investment LP acquired a new position in Alere during the fourth quarter valued at $1,751,000. Marshall Wace LLP acquired a new position in Alere during the fourth quarter valued at $4,585,000. Diamond Hill Capital Management Inc. increased its position in Alere by 12.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,306,319 shares of the company’s stock valued at $90,154,000 after buying an additional 248,224 shares during the period. Finally, Jennison Associates LLC increased its position in Alere by 124.1% in the fourth quarter. Jennison Associates LLC now owns 1,009,883 shares of the company’s stock valued at $39,476,000 after buying an additional 559,240 shares during the period.
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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