27,700 Shares in Alere Inc. (ALR) Acquired by Seven Eight Capital LP
Seven Eight Capital LP bought a new position in shares of Alere Inc. (NYSE:ALR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 27,700 shares of the medical research company’s stock, valued at approximately $1,390,000.
Several other institutional investors also recently bought and sold shares of the stock. Cowen Inc. raised its position in Alere by 1,232.5% in the 2nd quarter. Cowen Inc. now owns 1,361,342 shares of the medical research company’s stock valued at $68,326,000 after purchasing an additional 1,259,181 shares during the last quarter. Omni Partners LLP bought a new position in Alere in the 2nd quarter valued at $51,703,000. Litespeed Management L.L.C. bought a new position in Alere in the 1st quarter valued at $25,630,000. Renaissance Technologies LLC raised its position in Alere by 549.1% in the 1st quarter. Renaissance Technologies LLC now owns 493,324 shares of the medical research company’s stock valued at $19,600,000 after purchasing an additional 417,324 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Alere by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 6,942,162 shares of the medical research company’s stock valued at $275,813,000 after purchasing an additional 334,936 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Alere from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub raised Alere from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. BTIG Research reissued 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 target price for the company. in a research note on Tuesday, June 6th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $51.00 target price on shares of Alere in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $48.00.
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Shares of Alere Inc. (ALR) opened at 50.15 on Friday. The stock has a 50 day moving average price of $49.63 and a 200 day moving average price of $47.06. Alere Inc. has a 1-year low of $34.41 and a 1-year high of $50.63. The firm’s market capitalization is $4.39 billion.
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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