Alere Inc (NYSE:ALR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.
According to Zacks, “Alere Inc., formerly known as Inverness Medical Innovations, Inc., provides products and services, which focus on infectious disease, cardiology, oncology, drugs of abuse and women’s health. Alere is headquartered in Waltham, Massachusetts. “
Other equities analysts have also issued research reports about the company. Jefferies Group LLC lowered their target price on Alere from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Monday. Canaccord Genuity reiterated a “buy” rating and set a $51.00 target price (down previously from $52.00) on shares of Alere in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $49.60.
Alere (NYSE:ALR) opened at 48.90 on Wednesday. The company’s market capitalization is $4.25 billion. The company has a 50 day moving average price of $40.55 and a 200-day moving average price of $40.12. Alere has a 52 week low of $31.47 and a 52 week high of $49.42.
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A number of institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in Alere by 349.8% in the third quarter. State of Alaska Department of Revenue now owns 13,566 shares of the medical research company’s stock worth $586,000 after buying an additional 10,550 shares during the period. Spot Trading L.L.C bought a new position in Alere during the third quarter worth approximately $504,000. TT International bought a new position in Alere during the third quarter worth approximately $1,081,000. Aperio Group LLC raised its position in Alere by 4.0% in the third quarter. Aperio Group LLC now owns 9,049 shares of the medical research company’s stock worth $391,000 after buying an additional 345 shares during the period. Finally, Monashee Investment Management LLC raised its position in Alere by 15.5% in the third quarter. Monashee Investment Management LLC now owns 11,552 shares of the medical research company’s stock worth $500,000 after buying an additional 1,552 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.
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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