Alere Inc. (ALR) Given Consensus Recommendation of “Hold” by Brokerages

Alere Inc. (NYSE:ALR) has been given an average rating of “Hold” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $48.00.

ALR has been the subject of a number of research reports. BidaskClub cut shares of Alere from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Canaccord Genuity reissued a “hold” rating and set a $51.00 target price on shares of Alere in a research note on Tuesday, September 19th. Finally, Zacks Investment Research cut shares of Alere from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in 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 worth $130,000 after acquiring an additional 179 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alere by 11.6% during the second 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 last quarter. Jane Street Group LLC boosted its position in Alere by 104.6% during the first 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 last quarter. Prudential Financial Inc. boosted its position in Alere by 5.8% during the second 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 last quarter. Finally, Howard Hughes Medical Institute acquired a new position in Alere during the second quarter worth about $315,000. Hedge funds and other institutional investors own 89.33% of the company’s stock.

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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