USS Investment Management Ltd maintained its position in Alere Inc (NYSE:ALR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,705,953 shares of the medical research company’s stock at the end of the first quarter. USS Investment Management Ltd’s holdings in Alere were worth $67,743,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of ALR. Numeric Investors LLC bought a new position in Alere during the fourth quarter worth approximately $1,146,000. Norges Bank bought a new position in Alere during the fourth quarter worth approximately $27,653,000. Empyrean Capital Partners LP increased its position in Alere by 26.2% in the fourth quarter. Empyrean Capital Partners LP now owns 315,587 shares of the medical research company’s stock worth $12,298,000 after buying an additional 65,587 shares during the period. Prudential PLC increased its position in Alere by 286.5% in the fourth quarter. Prudential PLC now owns 523,000 shares of the medical research company’s stock worth $20,381,000 after buying an additional 387,700 shares during the period. Finally, Everett Capital Advisors UK LLP bought a new position in Alere during the fourth quarter worth approximately $4,645,000. 91.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alere Inc (NYSE:ALR) traded up 0.21% on Friday, reaching $47.48. 471,645 shares of the company’s stock traded hands. The stock’s market capitalization is $4.13 billion. The company has a 50 day moving average of $46.71 and a 200-day moving average of $40.85. Alere Inc has a 52 week low of $31.47 and a 52 week high of $49.53.
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ALR has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Alere from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 19th. BTIG Research reissued a “neutral” rating on shares of Alere in a research report on Monday. Canaccord Genuity reissued a “buy” rating and set a $51.00 price objective (down from $52.00) on shares of Alere in a research report on Monday, April 17th. Craig Hallum downgraded shares of Alere from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Jefferies Group LLC lowered their price objective on shares of Alere from $56.00 to $51.00 and set a “hold” rating on the stock in a research report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Alere currently has an average rating of “Hold” and an average price target of $49.60.
Alere Company Profile
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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