State of Wisconsin Investment Board Has $3,688,000 Stake in Alere Inc. (ALR)
State of Wisconsin Investment Board lowered its stake in shares of Alere Inc. (NYSE:ALR) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,286 shares of the company’s stock after selling 1,000 shares during the period. State of Wisconsin Investment Board’s holdings in Alere were worth $3,688,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALR. Lord Abbett & CO. LLC acquired a new stake in shares of Alere during the second quarter worth approximately $68,306,000. Marshall Wace LLP raised its position in Alere by 1,291.6% in the second quarter. Marshall Wace LLP now owns 912,050 shares of the company’s stock worth $38,015,000 after buying an additional 846,510 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in Alere during the second quarter worth $31,950,000. Iridian Asset Management LLC CT raised its position in Alere by 14.4% in the second quarter. Iridian Asset Management LLC CT now owns 3,383,943 shares of the company’s stock worth $141,043,000 after buying an additional 425,662 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in Alere during the second quarter worth $15,958,000. 90.87% of the stock is owned by hedge funds and other institutional investors.
Alere Inc. (NYSE:ALR) traded down 0.03% during trading on Tuesday, reaching $39.39. 227,225 shares of the company’s stock traded hands. Alere Inc. has a one year low of $31.47 and a one year high of $54.13. The company has a 50-day moving average price of $40.81 and a 200 day moving average price of $41.15. The firm’s market capitalization is $3.43 billion.
Alere (NYSE:ALR) last posted its quarterly earnings results on Friday, November 4th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by $0.35. Alere had a positive return on equity of 8.01% and a negative net margin of 1.64%. The business had revenue of $582 million for the quarter, compared to analysts’ expectations of $605.50 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that Alere Inc. will post $1.98 earnings per share for the current fiscal year.
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A number of research firms have weighed in on ALR. Canaccord Genuity dropped their price target on shares of Alere from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, September 29th. Zacks Investment Research lowered shares of Alere from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 19th. BTIG Research reiterated a “buy” rating and issued a $48.00 price target on shares of Alere in a research report on Thursday, August 18th. Jefferies Group reiterated a “hold” rating on shares of Alere in a research report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. dropped their target price on shares of Alere from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, November 4th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $51.33.
Alere Inc is a provider of health information through diagnostic tests. The Company’s segments include professional diagnostics, consumer diagnostics, and corporate and other. 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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