Leucadia National Corp continued to hold its stake in Alere Inc. (NYSE:ALR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the medical research company’s stock at the end of the first quarter. Leucadia National Corp’s holdings in Alere were worth $1,589,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Fred Alger Management Inc. bought a new stake in Alere during the fourth quarter valued at $156,000. Glassman Wealth Services acquired a new position in Alere during the fourth quarter valued at approximately $161,000. Soros Fund Management LLC acquired a new position in Alere during the fourth quarter valued at approximately $207,000. Engineers Gate Manager LP purchased a new stake in shares of Alere during the first quarter worth about $265,000. Finally, Callan Capital LLC purchased a new stake in shares of Alere during the third quarter worth about $307,000. Institutional investors and hedge funds own 90.67% of the company’s stock.
Alere Inc. (NYSE:ALR) traded up 0.08% during midday trading on Tuesday, reaching $50.19. 1,131,680 shares of the company were exchanged. Alere Inc. has a 52 week low of $31.47 and a 52 week high of $50.30. The stock’s market capitalization is $4.39 billion. The firm’s 50 day moving average price is $48.97 and its 200-day moving average price is $42.50.
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ALR has been the topic of a number of research reports. Jefferies Group LLC cut 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. Canaccord Genuity reissued a “buy” rating and set a $51.00 price target (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 report on Wednesday, April 19th. Craig Hallum cut shares of Alere from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Finally, BTIG Research reissued a “neutral” rating on shares of Alere in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus 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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