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

Shares of Alere Inc (NYSE:ALR) have been assigned an average rating of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $51.00.

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

Shares of Alere (NYSE:ALR) opened at $50.99 on Monday. Alere has a fifty-two week low of $34.41 and a fifty-two week high of $51.00. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.54 and a current ratio of 2.04.

Several institutional investors and hedge funds have recently made changes to their positions in ALR. Alliancebernstein L.P. lifted its stake in shares of Alere by 33.9% during the first quarter. Alliancebernstein L.P. now owns 52,377 shares of the medical research company’s stock valued at $2,081,000 after buying an additional 13,250 shares during the period. Wellington Management Group LLP lifted its stake in shares of Alere by 47.6% during the first quarter. Wellington Management Group LLP now owns 69,884 shares of the medical research company’s stock valued at $2,776,000 after buying an additional 22,550 shares during the period. Teachers Advisors LLC lifted its stake in shares of Alere by 13.2% during the first quarter. Teachers Advisors LLC now owns 131,108 shares of the medical research company’s stock valued at $5,209,000 after buying an additional 15,245 shares during the period. California Public Employees Retirement System increased its position in Alere by 9.6% during the first quarter. California Public Employees Retirement System now owns 103,200 shares of the medical research company’s stock worth $4,100,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Alere by 67.7% during the first quarter. Legal & General Group Plc now owns 49,951 shares of the medical research company’s stock worth $1,985,000 after purchasing an additional 20,169 shares during the last quarter. 89.33% of the stock is currently owned by institutional investors and hedge funds.

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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.

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