Is Selling Alere Inc Here a Winning Strategy? Option Traders Hate The Stock

 Is Selling Alere Inc Here a Winning Strategy? Option Traders Hate The Stock

In today’s session Alere Inc (ALR) recorded an unusually high (3,006) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious ALR decrease. With 3,006 contracts traded and 93584 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: ALR161118P00035000 closed last at: $1.35 or 71.9% down. About 414,027 shares traded hands. Alere Inc (NYSE:ALR) has declined 28.49% since April 5, 2016 and is downtrending. It has underperformed by 30.44% the S&P500.

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 14 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Wedbush maintained Alere Inc (NYSE:ALR) rating on Thursday, November 5. Wedbush has “Neutral” rating and $39 price target. The stock of Alere Inc (NYSE:ALR) earned “Neutral” rating by BTIG Research on Tuesday, March 15. The stock of Alere Inc (NYSE:ALR) has “Hold” rating given on Tuesday, February 2 by Craig Hallum. As per Tuesday, August 4, the company rating was maintained by BTIG Research. The company was upgraded on Friday, July 15 by Canaccord Genuity. Canaccord Genuity maintained the stock with “Buy” rating in Thursday, September 29 report. On Tuesday, February 2 the stock rating was downgraded by Jefferies to “Hold”. The stock of Alere Inc (NYSE:ALR) has “Buy” rating given on Monday, November 7 by Canaccord Genuity. The rating was downgraded by Canaccord Genuity on Tuesday, February 2 to “Hold”. As per Friday, April 29, the company rating was upgraded by Craig Hallum.

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 2016 Q2. Its down 0.01, from 0.9 in 2016Q1. The ratio dropped, 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.
Cramer Rosenthal Mcglynn Llc reported 508,385 shares or 0.34% of all its holdings. Counsel Ser reported 35,234 shares or 0.15% of all its holdings. State Of Wisconsin Board reported 86,286 shares or 0.01% of all its holdings. The United Kingdom-based Marshall Wace Llp has invested 0.32% in Alere Inc (NYSE:ALR). The Illinois-based Equitec Proprietary Markets Ltd Liability Company has invested 0.04% in Alere Inc (NYSE:ALR). Fmr Limited Liability Corporation owns 6.10M shares or 0.03% of their US portfolio. Private Cap Ltd Limited Liability Company, a Florida-based fund reported 849,998 shares. State Of Alaska Department Of Revenue, a Alaska-based fund reported 3,016 shares. Diamond Hill Capital holds 0.28% or 1.07 million shares in its portfolio. Westchester Cap Management, a New York-based fund reported 679,528 shares. Marco Mngmt Limited Liability has 0.27% invested in the company for 35,050 shares. Signaturefd Ltd Liability holds 3,400 shares or 0.02% of its portfolio. Highland Capital Mngmt Limited Partnership last reported 100,600 shares in the company. Millennium Mngmt Ltd accumulated 88,363 shares or 0.01% of the stock. New York State Common Retirement Fund, a New York-based fund reported 347,816 shares.

Alere Inc. is a provider of health information through diagnostic tests. The company has a market cap of $3.10 billion. The Company’s divisions include professional diagnostics, consumer diagnostics, and corporate and other. It currently has negative earnings. 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.

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).

More notable recent Alere Inc (NYSE:ALR) news were published by: Fool.com which released: “Alere Inc. Has Been Left for Dead, With Its Shares Down 13%” on November 04, 2016, also Businesswire.com with their article: “IMPORTANT INVESTOR ALERT: Lundin Law PC Announces an Investigation of Alere …” published on November 07, 2016, Prnewswire.com published: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” on November 07, 2016. More interesting news about Alere Inc (NYSE:ALR) were released by: Prnewswire.com and their article: “EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims …” published on November 04, 2016 as well as Prnewswire.com‘s news article titled: “Alere Reports Third Quarter 2016 Financial Results” with publication date: November 04, 2016.

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