Shares of Alere Inc. (NYSE:ALR) dropped 1% during mid-day trading on Monday . The stock traded as low as $40.04 and last traded at $40.05, with a volume of 467,867 shares changing hands. The stock had previously closed at $40.45.

ALR has been the topic of several recent research reports. Leerink Swann restated a “buy” rating and set a $56.00 target price on shares of Alere in a research report on Tuesday, July 12th. Canaccord Genuity raised shares of 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. Craig Hallum raised shares of Alere from a “hold” rating to a “buy” rating in a research report on Friday, April 29th. BTIG Research raised shares of Alere from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, August 9th. Finally, Jefferies Group reissued a “hold” rating on shares of Alere in a research report on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.13.

The company has a 50-day moving average price of $40.04 and a 200 day moving average price of $45.34. The company has a market cap of $3.47 billion and a price-to-earnings ratio of 18.44.

Alere (NYSE:ALR) last announced its earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.86. The firm had revenue of $623 million for the quarter, compared to analyst estimates of $662.04 million. During the same quarter last year, the business posted $0.60 EPS. Analysts anticipate that Alere Inc. will post $2.39 earnings per share for the current fiscal year.

A number of institutional investors have bought and sold shares of ALR. Jennison Associates LLC raised 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 worth $39,476,000 after buying an additional 559,240 shares during the last quarter. Trexquant Investment LP acquired a new position in Alere during the fourth quarter worth $1,751,000. Marshall Wace LLP acquired a new position in Alere during the fourth quarter worth $4,585,000. Finally, GSA Capital Partners LLP raised 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 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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