Alere Inc. (ALR) Given Hold Rating at Canaccord Genuity

Canaccord Genuity reiterated their hold rating on shares of Alere Inc. (NYSE:ALR) in a research note published on Tuesday morning. They currently have a $51.00 target price on the medical research company’s stock.

A number of other analysts also recently commented on ALR. BTIG Research restated a hold rating on shares of Alere in a research note on Wednesday, May 24th. Jefferies Group LLC restated a hold rating and issued a $51.00 target price on shares of Alere in a research note on Thursday, June 1st. Zacks Investment Research upgraded Alere from a sell rating to a hold rating in a research note on Tuesday, June 27th. Finally, BidaskClub downgraded Alere from a buy rating to a hold rating in a research note on Sunday, July 16th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $48.00.

Alere (NYSE ALR) traded down 0.08% on Tuesday, hitting $50.46. The stock had a trading volume of 578,200 shares. Alere has a 12 month low of $34.41 and a 12 month high of $50.64. The company’s 50 day moving average is $49.61 and its 200-day moving average is $47.44. The stock’s market cap is $4.42 billion.

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Several institutional investors have recently made changes to their positions in the business. Banco BTG Pactual S.A. acquired a new position in shares of Alere during the second quarter valued at approximately $4,999,000. The Manufacturers Life Insurance Company raised its holdings 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 valued at $130,000 after acquiring an additional 179 shares during the last quarter. Alpine Global Management LLC acquired a new position in shares of Alere during the second quarter valued at approximately $5,019,000. CNH Partners LLC raised its holdings in shares of Alere by 6.3% during the second quarter. CNH Partners LLC now owns 2,120,458 shares of the medical research company’s stock valued at $106,426,000 after acquiring an additional 125,121 shares during the last quarter. Finally, York Capital Management Global Advisors LLC raised its holdings in shares of Alere by 469.6% during the second quarter. York Capital Management Global Advisors LLC now owns 1,755,511 shares of the medical research company’s stock valued at $88,109,000 after acquiring an additional 1,447,307 shares during the last quarter. 88.76% of the stock is 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.

Analyst Recommendations for Alere (NYSE:ALR)

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