Alere Inc. (NYSE:ALR)’s share price dropped 1% during 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 research analyst reports. Leerink Swann upgraded Alere from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 27th. BTIG Research restated a “hold” rating and set a $60.00 target price on shares of Alere in a research report on Thursday, July 28th. Canaccord Genuity set a $56.00 target price on Alere and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Jefferies Group restated a “hold” rating on shares of Alere in a research report on Thursday, April 21st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Alere currently has a consensus rating of “Hold” and a consensus price target of $52.13.

The stock has a 50 day moving average price of $40.04 and a 200 day moving average price of $45.37. The firm has a market cap of $3.53 billion and a P/E ratio of 18.80.

Alere (NYSE:ALR) last announced its quarterly earnings results on Wednesday, August 17th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.74. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company had revenue of $578 million for the quarter. The firm’s revenue was down 5.7% compared to the same quarter last year. Analysts expect that Alere Inc. will post $2.39 EPS for the current fiscal year.

Other large investors have recently made changes to their positions in the company. 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 valued at $1,009,000 after buying an additional 18,409 shares during the period. Marshall Wace LLP purchased a new stake in shares of Alere during the fourth quarter valued at $4,585,000. Trexquant Investment LP purchased a new stake in shares of Alere during the fourth quarter valued at $1,751,000. Finally, 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 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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