Gabelli Funds LLC raised its stake in shares of Alere Inc (NYSE:ALR) by 46.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,564,733 shares of the medical research company’s stock after acquiring an additional 496,495 shares during the quarter. Gabelli Funds LLC owned approximately 1.79% of Alere worth $79,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in Alere by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,585 shares of the medical research company’s stock valued at $130,000 after acquiring an additional 179 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alere by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the medical research company’s stock valued at $155,000 after acquiring an additional 321 shares in the last quarter. Jane Street Group LLC boosted its position in Alere by 104.6% during the 1st quarter. Jane Street Group LLC now owns 5,090 shares of the medical research company’s stock valued at $202,000 after acquiring an additional 115,090 shares in the last quarter. Prudential Financial Inc. boosted its position in Alere by 5.8% during the 2nd quarter. Prudential Financial Inc. now owns 5,515 shares of the medical research company’s stock valued at $277,000 after acquiring an additional 300 shares in the last quarter. Finally, Howard Hughes Medical Institute bought a new stake in Alere during the 2nd quarter valued at $315,000. 89.33% of the stock is currently owned by institutional investors and hedge funds.

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A number of research firms have recently weighed in on ALR. BidaskClub raised Alere from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Canaccord Genuity reissued a “hold” rating and issued a $51.00 price objective on shares of Alere in a research report on Tuesday, September 19th. Finally, Zacks Investment Research cut Alere from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company has an average rating of “Hold” and an average target price of $51.00.

Alere Inc (NYSE:ALR) remained flat at $$50.99 during trading on Monday. The company has a quick ratio of 1.54, a current ratio of 2.04 and a debt-to-equity ratio of 2.43. Alere Inc has a 1-year low of $34.41 and a 1-year high of $51.00.

About Alere

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.

Institutional Ownership by Quarter for Alere (NYSE:ALR)

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