Alere Inc. (ALR) Position Boosted by Gabelli Funds LLC
Gabelli Funds LLC increased its position in shares of Alere Inc. (NYSE:ALR) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 1,068,238 shares of the medical research company’s stock after buying an additional 13,865 shares during the period. Gabelli Funds LLC’s holdings in Alere were worth $53,615,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in shares of Alere by 3.0% in the first quarter. Pacer Advisors Inc. now owns 10,810 shares of the medical research company’s stock worth $429,000 after buying an additional 319 shares during the period. Alambic Investment Management L.P. boosted its stake in shares of Alere by 48.1% in the first quarter. Alambic Investment Management L.P. now owns 8,000 shares of the medical research company’s stock worth $318,000 after buying an additional 2,600 shares during the period. Airain ltd boosted its stake in shares of Alere by 71.8% in the first quarter. Airain ltd now owns 28,828 shares of the medical research company’s stock worth $1,145,000 after buying an additional 12,050 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Alere by 7.5% in the first quarter. Parametric Portfolio Associates LLC now owns 85,861 shares of the medical research company’s stock worth $3,411,000 after buying an additional 6,002 shares during the period. Finally, Engineers Gate Manager LP bought a new stake in shares of Alere during the first quarter worth approximately $265,000. 80.53% of the stock is owned by institutional investors.
Alere Inc. (ALR) opened at 49.33 on Friday. The company has a 50 day moving average price of $50.10 and a 200 day moving average price of $45.67. The firm’s market capitalization is $4.32 billion. Alere Inc. has a 12 month low of $34.41 and a 12 month high of $50.63.
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A number of analysts have recently commented on the company. BidaskClub cut Alere from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Zacks Investment Research raised Alere from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. BTIG Research reaffirmed a “hold” rating on shares of Alere in a research note on Wednesday, May 24th. Canaccord Genuity cut Alere from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Tuesday, June 6th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 price target on shares of Alere in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $48.00.
Alere Company Profile
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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