Investors Buy Alere Inc. (ALR) on Weakness

Investors bought shares of Alere Inc. (NYSE:ALR) on weakness during trading on Thursday. $31.49 million flowed into the stock on the tick-up and $6.68 million flowed out of the stock on the tick-down, for a money net flow of $24.81 million into the stock. Of all companies tracked, Alere had the 27th highest net in-flow for the day. Alere traded down ($0.04) for the day and closed at $50.11

A number of research firms have issued reports on ALR. Canaccord Genuity restated a “buy” rating and issued a $51.00 target price on shares of Alere in a report on Monday, May 22nd. BidaskClub upgraded shares of Alere from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price objective on shares of Alere in a report on Thursday, June 1st. Zacks Investment Research lowered shares of Alere from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Finally, BTIG Research reiterated a “hold” rating on shares of Alere in a report on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $48.00.

The firm has a 50-day moving average of $49.61 and a 200 day moving average of $47.13. The company’s market cap is $4.36 billion.

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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 worth $130,000 after acquiring an additional 179 shares during the period. 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 worth $155,000 after acquiring an additional 321 shares during the period. 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 worth $202,000 after acquiring an additional 115,090 shares during the period. 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 worth $277,000 after acquiring an additional 300 shares during the period. Finally, Howard Hughes Medical Institute acquired a new stake in Alere during the 2nd quarter worth about $315,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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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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