Canaccord Genuity Reaffirms Hold Rating for Alere Inc. (ALR)
Canaccord Genuity reaffirmed their hold rating on shares of Alere Inc. (NYSE:ALR) in a report published on Tuesday morning. They currently have a $51.00 price target on the medical research company’s stock.
Several other analysts have also issued reports on ALR. BidaskClub lowered Alere from a hold rating to a sell rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered Alere from a hold rating to a sell rating in a research note on Thursday, August 17th. Jefferies Group LLC restated a hold rating and issued a $51.00 price objective on shares of Alere in a research note on Thursday, June 1st. Finally, BTIG Research restated a hold rating on shares of Alere in a research note on Wednesday, May 24th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock currently has an average rating of Hold and an average price target of $48.00.
Alere (ALR) opened at 50.35 on Tuesday. Alere has a 12 month low of $34.41 and a 12 month high of $50.63. The company’s market capitalization is $4.41 billion. The firm has a 50-day moving average price of $49.61 and a 200 day moving average price of $47.44.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in shares of Alere by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,585 shares of the medical research company’s stock worth $130,000 after purchasing an additional 179 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Alere by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the medical research company’s stock worth $155,000 after purchasing an additional 321 shares during the period. Jane Street Group LLC increased its stake in shares of Alere by 104.6% during the first quarter. Jane Street Group LLC now owns 5,090 shares of the medical research company’s stock worth $202,000 after purchasing an additional 115,090 shares during the period. Engineers Gate Manager LP bought a new position in shares of Alere during the first quarter worth approximately $265,000. Finally, Prudential Financial Inc. increased its stake in shares of Alere by 5.8% during the second quarter. Prudential Financial Inc. now owns 5,515 shares of the medical research company’s stock worth $277,000 after purchasing an additional 300 shares during the period. Institutional investors own 88.76% of the company’s stock.
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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