York Capital Management Global Advisors LLC lowered its stake in shares of Alere Inc. (NYSE:ALR) by 32.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 308,204 shares of the medical research company’s stock after selling 150,973 shares during the period. York Capital Management Global Advisors LLC owned about 0.35% of Alere worth $12,245,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Numeric Investors LLC bought a new stake in shares of Alere during the fourth quarter worth approximately $1,146,000. Norges Bank bought a new stake in shares of Alere during the fourth quarter worth approximately $27,653,000. Empyrean Capital Partners LP boosted its stake in shares of 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 in the last quarter. Airain ltd boosted its stake in shares of Alere by 71.8% in the first quarter. Airain ltd now owns 28,828 shares of the medical research company’s stock worth $1,145,000 after buying an additional 12,050 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Alere during the fourth quarter worth approximately $2,962,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alere Inc. (NYSE ALR) traded up 0.04% during trading on Friday, reaching $50.20. 990,147 shares of the company were exchanged. The company’s 50-day moving average is $48.91 and its 200 day moving average is $42.31. Alere Inc. has a 1-year low of $31.47 and a 1-year high of $50.28. The firm’s market capitalization is $4.39 billion.
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A number of brokerages have recently commented on ALR. Canaccord Genuity cut Alere from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Tuesday, June 6th. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 price target on shares of Alere in a research report on Thursday, June 1st. BTIG Research reissued a “hold” rating on shares of Alere in a research report on Wednesday, May 24th. Craig Hallum cut Alere from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Zacks Investment Research cut Alere from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus 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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