Stonepine Capital Management LLC raised its position in Alere Inc. (NYSE:ALR) by 25.6% during the fourth quarter, Holdings Channel reports. The fund owned 360,000 shares of the company’s stock after buying an additional 73,349 shares during the period. Alere makes up 8.4% of Stonepine Capital Management LLC’s holdings, making the stock its 3rd largest position. Stonepine Capital Management LLC owned approximately 0.41% of Alere worth $14,029,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. CNH Partners LLC raised its stake in shares of Alere by 10.4% in the second quarter. CNH Partners LLC now owns 3,182,963 shares of the company’s stock valued at $132,666,000 after buying an additional 298,954 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Alere by 115.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,313,104 shares of the company’s stock valued at $100,019,000 after buying an additional 1,238,439 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Alere by 2.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,182,799 shares of the company’s stock valued at $94,384,000 after buying an additional 55,108 shares during the last quarter. First Eagle Investment Management LLC increased its position in Alere by 52.3% in the third quarter. First Eagle Investment Management LLC now owns 1,167,301 shares of the company’s stock valued at $50,474,000 after buying an additional 400,735 shares during the period. Finally, Jennison Associates LLC increased its position in Alere by 55.3% in the third quarter. Jennison Associates LLC now owns 1,084,445 shares of the company’s stock valued at $46,891,000 after buying an additional 386,374 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.
Shares of Alere Inc. (NYSE:ALR) traded up 2.14% during trading on Monday, hitting $40.11. The stock had a trading volume of 938,946 shares. The firm has a 50 day moving average price of $39.17 and a 200 day moving average price of $40.25. Alere Inc. has a 12-month low of $31.47 and a 12-month high of $54.13. The firm’s market cap is $3.49 billion.
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Several equities analysts recently weighed in on the company. Goldman Sachs Group, Inc. (The) lowered their target price on Alere from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, November 4th. Zacks Investment Research upgraded Alere from a “sell” rating to a “hold” rating in a research report on Tuesday, November 8th. Finally, Canaccord Genuity lowered their target price on Alere from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $49.50.
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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