Airain Increased Alere Stake in Q2 Despite Stock Weakness

Airain Ltd boosted its holding in Alere (ALR) by 3186.8% as revealed in Q2 regulatory filing with the SEC. Airain Ltd purchased 0.37 million shares as the company’s stock dived about 17.61% while US stock markets rallied. Airain held 384,325 shares of the in the diagnostic substances company at the end of 2016Q2, valued at about $20 million. Airain Ltd who had been investing in Alere Inc Ordinary for a number of months, seems to be bullish on the $3.79B market cap company. The stock is down 0.71% or $0.31 hitting $43.36, despite the positive news. About 497,969 shares traded hands. Alere Inc (NYSE:ALR) has declined 18.27% since February 19, 2016 and is downtrending. It has underperformed by 31.79% the S&P500.

Airain Ltd, which manages about $1.45 billion US Long portfolio, decreased its stake in American International Group Ordinary (NYSE:AIG) by 73,378 shares to 102,478 shares, valued at $5.54M in 2016Q2, according to the filing. It also reduced its holding in Level 3 Comminications (NYSE:LVLT) by 89,181 shares in the quarter, leaving it with 47,079 shares, and cut its stake in Fidelity National Information (NYSE:FIS).

The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.01, from 0.9 in 2016Q1. The ratio fall, as 28 funds sold all ALR shares owned while 79 reduced positions. 24 funds bought stakes while 71 increased positions. They now own 73.65 million shares or 1.98% less from 75.14 million shares in 2016Q1. Cramer Rosenthal Mcglynn Ltd accumulated 0.34% or 508,385 shares. Moreover, Blackrock Invest Mgmt Llc has 0% invested in the company for 40,750 shares. Parametric Associate Ltd Limited Liability Company holds 68,714 shares or 0% of its portfolio. Moreover, Diam Company Ltd has 0.03% invested in the company for 53,188 shares. Comerica National Bank accumulated 0.01% or 37,585 shares. Archford Cap Strategies Limited Company holds 0% of its portfolio in ALR for 17 shares. The Tennessee-based Ftb Advsr has invested 0% in the stock. Tyrus Sam has invested 0.71% of its portfolio in the stock. State Street Corporation owns 1.09M shares or 0% of their US portfolio. Ubs Asset Mgmt Americas Inc accumulated 0% or 78,626 shares. Pub Employees Retirement Association Of Colorado reported 19,235 shares or 0.01% of all its holdings. State Board Of Administration Of Florida Retirement Sys accumulated 0.02% or 129,750 shares. Indexiq Advsr Ltd accumulated 0.23% or 93,935 shares. Stoneridge Investment Prtn Ltd Liability Com last reported 0.12% of its portfolio in the stock. Schafer Cullen Cap Mngmt Incorporated has invested 0.01% of its portfolio in the stock.

More notable recent Alere Inc (NYSE:ALR) news were published by: Bloomberg.com which released: “Abbott’s Deal for Alere Turns Nasty as Firms Brawl in Court” on August 31, 2016, also Bloomberg.com with their article: “Alere Sues Abbott to Force Completion of $5.8 Billion Deal” published on August 26, 2016, Chicagobusiness.com published: “Alere, Abbott to mediate $5.8 billion merger antitrust spat” on September 08, 2016. More interesting news about Alere Inc (NYSE:ALR) were released by: Bloomberg.com and their article: “Alere Gets on Court’s Fast Track in Suit Over Abbott Buyout” published on September 02, 2016 as well as Seekingalpha.com‘s news article titled: “Merger Arbitrage – Alere And Abbott” with publication date: September 06, 2016.

Out of 7 analysts covering Alere (NYSE:ALR), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Alere has been the topic of 12 analyst reports since August 4, 2015 according to StockzIntelligence Inc. TheStreet upgraded the stock on Friday, August 14 to “Hold” rating. Jefferies downgraded the firm’s rating on Tuesday, February 2. Jefferies has “Hold” rating and $56 price target. The firm has “Buy” rating by Canaccord Genuity given on Friday, July 15. BTIG Research downgraded the stock on Tuesday, March 15 to “Neutral” rating. As per Friday, April 29 the firm rating was upgraded by Craig Hallum. The stock has “Outperform” rating given by Leerink Swann on Thursday, April 28. Craig Hallum downgraded the firm’s rating on Tuesday, February 2. Craig Hallum has “Hold” rating and $56 price target. Canaccord Genuity maintained the shares of ALR in a report on Thursday, November 5 with “Buy” rating. Wedbush maintained the stock on Thursday, November 5 with “Neutral” rating. As per Tuesday, August 4 the firm rating was maintained by BTIG Research.

Alere Inc., incorporated on May 11, 2001, is a well-known provider of health information through diagnostic tests. The Company’s divisions 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. The consumer diagnostics segment consists primarily of manufacturing activities related to its role as the exclusive maker of products for SPD Swiss Precision Diagnostics (SPD), its joint venture with The Procter & Gamble Company (P&G).

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