AQR Capital Management LLC maintained its position in Alere Inc. (NYSE:ALR) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 25,892 shares of the medical research company’s stock at the end of the first quarter. AQR Capital Management LLC’s holdings in Alere were worth $1,029,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ALR. Engineers Gate Manager LP acquired a new position in Alere during the first quarter valued at $265,000. Russell Investments Group Ltd. purchased a new stake in shares of Alere during the fourth quarter valued at approximately $312,000. Alambic Investment Management L.P. raised its stake 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 valued at $318,000 after buying an additional 2,600 shares during the last quarter. Pacer Advisors Inc. raised its stake 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 valued at $429,000 after buying an additional 319 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Alere during the first quarter valued at approximately $472,000. Institutional investors and hedge funds own 80.53% of the company’s stock.
Shares of Alere Inc. (ALR) traded up 0.45% during mid-day trading on Friday, reaching $49.55. The company’s stock had a trading volume of 862,573 shares. The stock’s market cap is $4.34 billion. Alere Inc. has a one year low of $34.41 and a one year high of $50.63. The stock has a 50 day moving average of $50.09 and a 200-day moving average of $45.76.
ALR has been the topic of several research analyst reports. Canaccord Genuity downgraded Alere from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Tuesday, June 6th. Zacks Investment Research upgraded Alere from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. BTIG Research reiterated a “hold” rating on shares of Alere in a research report on Wednesday, May 24th. BidaskClub downgraded Alere from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 target price on shares of Alere in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Alere has a consensus rating of “Hold” and a consensus price target of $48.00.
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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