Alere Inc. (NYSE:ALR) Receives Consensus Recommendation of “Hold” from Analysts

Alere Inc. (NYSE:ALR) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $48.00.

A number of research analysts have recently commented on ALR shares. BidaskClub lowered shares of Alere from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $51.00 price objective on shares of Alere in a research report on Monday, May 22nd. Zacks Investment Research lowered shares of Alere from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 19th. BTIG Research reaffirmed a “neutral” rating on shares of Alere in a research report on Monday, May 15th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price objective on shares of Alere in a research report on Thursday, June 1st.

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Alere (ALR) opened at 50.53 on Friday. Alere has a 1-year low of $34.41 and a 1-year high of $50.56. The firm’s market capitalization is $4.41 billion. The company has a 50-day moving average price of $50.27 and a 200-day moving average price of $44.70.

A number of hedge funds have recently bought and sold shares of ALR. Norges Bank acquired a new stake in Alere during the fourth quarter worth $27,653,000. Litespeed Management L.L.C. acquired a new stake in Alere during the first quarter worth $25,630,000. Renaissance Technologies LLC boosted its stake in Alere by 549.1% in the first quarter. Renaissance Technologies LLC now owns 493,324 shares of the medical research company’s stock worth $19,600,000 after buying an additional 417,324 shares during the last quarter. Vanguard Group Inc. boosted its stake in Alere by 5.1% in the first quarter. Vanguard Group Inc. now owns 6,942,162 shares of the medical research company’s stock worth $275,813,000 after buying an additional 334,936 shares during the last quarter. Finally, Laurion Capital Management LP boosted its stake in Alere by 106.1% in the first quarter. Laurion Capital Management LP now owns 12,100 shares of the medical research company’s stock worth $481,000 after buying an additional 212,100 shares during the last quarter. 90.40% of the stock is currently owned by institutional investors and hedge funds.

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.