Alliancebernstein L.P. Sells 4,519 Shares of Alere Inc. (ALR)
Alliancebernstein L.P. cut its holdings in Alere Inc. (NYSE:ALR) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,858 shares of the medical research company’s stock after selling 4,519 shares during the period. Alliancebernstein L.P. owned approximately 0.05% of Alere worth $2,402,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ALR. Omni Partners LLP bought a new stake in Alere in the second quarter worth $51,703,000. Litespeed Management L.L.C. bought a new stake in Alere in the first quarter worth $25,630,000. Renaissance Technologies LLC boosted its holdings in Alere by 549.1% in the first quarter. Renaissance Technologies LLC now owns 493,324 shares of the medical research company’s stock worth $19,600,000 after purchasing an additional 417,324 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Alere by 5.1% in the first quarter. Vanguard Group Inc. now owns 6,942,162 shares of the medical research company’s stock worth $275,813,000 after purchasing an additional 334,936 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Alere in the second quarter worth $16,317,000. Hedge funds and other institutional investors own 89.33% of the company’s stock.
A number of brokerages recently issued reports on ALR. BidaskClub cut shares of Alere from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research cut shares of Alere from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $51.00 price objective on shares of Alere in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price 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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