Alere Inc (NYSE:ALR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, Market Beat.com reports.

According to Zacks, “Alere Inc., formerly known as Inverness Medical Innovations, Inc., provides products and services, which focus on infectious disease, cardiology, oncology, drugs of abuse and women’s health. Alere is headquartered in Waltham, Massachusetts. “

Shares of Alere (NYSE:ALR) opened at 39.30 on Monday. The stock has a market cap of $3.39 billion and a PE ratio of 10.38. Alere has a 52 week low of $31.96 and a 52 week high of $55.99. The firm has a 50-day moving average price of $38.55 and a 200-day moving average price of $45.96.

Alere (NYSE:ALR) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.07. The firm earned $602 million during the quarter, compared to the consensus estimate of $646.29 million. Alere’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. On average, analysts forecast that Alere will post $2.23 earnings per share for the current fiscal year.

Several hedge funds and institutional investors have recently modified their holdings of the company. Fox Run Management purchased a new position in shares of Alere during the fourth quarter valued at approximately $274,000. Quantitative Systematic Strategies purchased a new position in shares of Alere during the fourth quarter valued at approximately $305,000. Janus Capital Management raised its position in shares of Alere by 1,642.7% in the third quarter. Janus Capital Management now owns 155,100 shares of the company’s stock valued at $7,468,000 after buying an additional 146,200 shares during the last quarter. USS Investment Management raised its position in shares of Alere by 31.4% in the fourth quarter. USS Investment Management now owns 1,705,953 shares of the company’s stock valued at $66,669,000 after buying an additional 408,094 shares during the last quarter. Finally, Jennison Associates purchased a new position in shares of Alere during the third quarter valued at approximately $21,698,000.

In other news, CFO James F. Hinrichs bought 10,000 shares of the firm’s stock in a transaction dated Thursday, November 12th. The stock was bought at an average price of $39.97 per share, for a total transaction of $399,700.00. Following the transaction, the chief financial officer now owns 30,000 shares in the company, valued at $1,199,100. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert Bernard Hargadon bought 1,000 shares of the firm’s stock in a transaction dated Friday, November 13th. The stock was purchased at an average price of $38.99 per share, with a total value of $38,990.00. Following the transaction, the senior vice president now owns 8,843 shares in the company, valued at approximately $344,788.57. The disclosure for this purchase can be found here.

ALR has been the subject of a number of other research reports. BTIG Research reiterated a “buy” rating and issued a $65.00 target price on shares of Alere in a research note on Friday, October 23rd. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 target price (down previously from $60.00) on shares of Alere in a research note on Monday, November 2nd. Leerink Swann increased their target price on Alere from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Monday, November 2nd. Raymond James increased their target price on Alere from $46.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Monday, November 2nd. Finally, Wedbush increased their target price on Alere from $38.00 to $41.00 in a research note on Monday, November 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $51.00.

Alere Inc. is a provider of health information through diagnostic tests. The Company operates through professional diagnostics, patient self-testing, consumer diagnostics and, corporate and other segments. 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. The patient-self testing segment provides services designed to provide physicians with actionable data that allow them to make decisions in real time, deliver care, and put the individuals they treat on a pathway to better health. The consumer diagnostics segment consists primarily of manufacturing operations related to its role as the exclusive manufacturer of products for SPD Swiss Precision Diagnostics (NYSE:ALR), its 50/50 joint venture with The Procter & Gamble Company (P&G).

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