Two Sigma Investments LP Reduces Position in Alere Inc (ALR)

Two Sigma Investments LP reduced its position in Alere Inc (NYSE:ALR) by 49.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,115 shares of the medical research company’s stock after selling 25,537 shares during the period. Two Sigma Investments LP’s holdings in Alere were worth $1,018,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ALR. Acrospire Investment Management LLC purchased a new stake in shares of Alere during the third quarter worth about $125,000. BlackRock Japan Co. Ltd purchased a new stake in shares of Alere during the third quarter worth about $152,000. Fred Alger Management Inc. purchased a new stake in shares of Alere during the fourth quarter worth about $156,000. Glassman Wealth Services purchased a new stake in shares of Alere during the fourth quarter worth about $161,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Alere during the third quarter worth about $255,000. 91.82% of the stock is owned by institutional investors and hedge funds.

Shares of Alere Inc (NYSE:ALR) remained flat at $48.90 during mid-day trading on Friday. 1,685,172 shares of the company traded hands. The stock’s 50 day moving average price is $40.86 and its 200 day moving average price is $40.16. Alere Inc has a one year low of $31.47 and a one year high of $49.42. The company’s market cap is $4.25 billion.

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A number of equities research analysts have issued reports on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 price objective (down from $52.00) on shares of Alere in a research report on Monday, April 17th. Zacks Investment Research cut shares of Alere from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, Jefferies Group LLC dropped their target price on shares of Alere from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Monday, April 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Alere has an average rating of “Hold” and a consensus price target of $49.60.

About Alere

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.