The stock of Alere Inc (NYSE:ALR) is a huge mover today! About 4.61M shares traded hands or 918.10% up from the average. Alere Inc (NYSE:ALR) has declined 16.57% since April 4, 2016 and is downtrending. It has underperformed by 17.66% the S&P500.
The move comes after 9 months negative chart setup for the $3.11 billion company. It was reported on Nov, 4 by Barchart.com. We have $33.39 PT which if reached, will make NYSE:ALR worth $248.80M less.
Alere Inc (NYSE:ALR) Ratings Coverage
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 13 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by BTIG Research on Tuesday, August 4. Canaccord Genuity maintained it with “Buy” rating and $53 target price in Thursday, September 29 report. The rating was upgraded by Leerink Swann on Thursday, April 28 to “Outperform”. The firm earned “Hold” rating on Tuesday, February 2 by Jefferies. The stock of Alere Inc (NYSE:ALR) has “Hold” rating given on Tuesday, February 2 by Canaccord Genuity. The rating was downgraded by Craig Hallum to “Hold” on Tuesday, February 2. The firm earned “Buy” rating on Thursday, November 5 by Canaccord Genuity. The company was upgraded on Friday, July 15 by Canaccord Genuity. Craig Hallum upgraded the stock to “Buy” rating in Friday, April 29 report. TheStreet upgraded the stock to “Hold” rating in Friday, August 14 report.
According to Zacks Investment Research, “Alere Inc., formerly known as Inverness Medical Innovations, Inc., provides products and services, which focus on infectious disease, cardiology, oncology, drugs of abuse and women’s health. Alere is headquartered in Waltham, Massachusetts.”
Insitutional Activity: The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.01, from 0.9 in 2016Q1. The ratio is negative, as 28 funds sold all Alere Inc 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.
Kennedy Capital Management Incorporated last reported 707,888 shares in the company. Allianz Asset Mngmt Ag last reported 486,026 shares in the company. Parallax Volatility Advisers L P holds 9,305 shares or 0% of its portfolio. Airain has 0.21% invested in the company for 87,489 shares. Renaissance Technology has 408,824 shares for 0.03% of their US portfolio. Metropolitan Life Ny reported 3,286 shares or 0% of all its holdings. Nomura Holding reported 21,835 shares or 0% of all its holdings. Vertex One Asset Incorporated has 0.27% invested in the company for 40,100 shares. Moreover, Citigroup has 0% invested in Alere Inc (NYSE:ALR) for 20,350 shares. Pacad Investment Ltd holds 0.07% or 12,702 shares in its portfolio. Tig Advisors Limited Company owns 1.79 million shares or 6.54% of their US portfolio. Henderson Group Public Limited Co accumulated 0.03% or 99,261 shares. Mycio Wealth Prtn Limited Liability Co accumulated 0% or 31 shares. The Texas-based Teacher Retirement Sys Of Texas has invested 0% in Alere Inc (NYSE:ALR). Dimensional Fund L P, a Texas-based fund reported 2.80 million shares.
More recent Alere Inc (NYSE:ALR) news were published by: Wsj.com which released: “Alere Shares Fall as a Unit Loses Medicare Access and Earnings Disappoint” on November 04, 2016. Also Streetinsider.com published the news titled: “Form 4 ALERE INC. For: Oct 31 Filed by: Nawana Namal” on November 02, 2016. Prnewswire.com‘s news article titled: “Alere Shareholders Approve Merger with Abbott” with publication date: October 21, 2016 was also an interesting one.
ALR Company Profile
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).
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.