Dimensional Fund Advisors LP cut its position in Alere Inc. (NYSE:ALR) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,747,134 shares of the medical research company’s stock after selling 11,146 shares during the period. Dimensional Fund Advisors LP’s holdings in Alere were worth $109,143,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ALR. Asset Management One Co. Ltd. increased its stake in Alere by 0.5% in the first quarter. Asset Management One Co. Ltd. now owns 15,940 shares of the medical research company’s stock worth $633,000 after buying an additional 79 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Alere by 3.0% in the first quarter. Pacer Advisors Inc. now owns 10,810 shares of the medical research company’s stock worth $429,000 after buying an additional 319 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Alere by 0.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 130,986 shares of the medical research company’s stock worth $5,105,000 after buying an additional 545 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Alere by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 391,002 shares of the medical research company’s stock worth $15,535,000 after buying an additional 2,583 shares during the period. Finally, Alambic Investment Management L.P. boosted its position in shares of Alere by 48.1% in the first quarter. Alambic Investment Management L.P. now owns 8,000 shares of the medical research company’s stock worth $318,000 after buying an additional 2,600 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alere Inc. (NYSE ALR) traded down 0.10% during trading on Friday, hitting $50.18. The stock had a trading volume of 398,859 shares. The firm’s 50-day moving average is $48.99 and its 200 day moving average is $42.58. Alere Inc. has a 52-week low of $31.47 and a 52-week high of $50.30. The firm’s market cap is $4.38 billion.
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A number of equities analysts have recently commented on the company. Jefferies Group LLC dropped their target price on Alere from $56.00 to $51.00 and set a “hold” rating for the company in a report on Monday, April 17th. Craig Hallum cut Alere from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Canaccord Genuity reiterated a “buy” rating and issued a $51.00 target price (down previously from $52.00) on shares of Alere in a report on Monday, April 17th. BTIG Research reiterated a “hold” rating on shares of Alere in a report on Wednesday, May 24th. Finally, Zacks Investment Research cut Alere from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $49.60.
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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