Alere Inc (NYSE:ALR) shares saw strong trading volume on Tuesday after Leerink Swann raised their price target on the stock from $50.00 to $56.00, Marketbeat reports. Leerink Swann currently has a market perform rating on the stock. 8,315,362 shares traded hands during trading, an increase of 129% from the previous session’s volume of 3,634,018 shares.The stock last traded at $53.92 and had previously closed at $54.11.

Several other analysts also recently issued reports on the stock. Goldman Sachs downgraded shares of Alere from a “buy” rating to a “neutral” rating and increased their price objective for the company from $47.00 to $56.00 in a research report on Monday. Canaccord Genuity reaffirmed a “hold” rating and issued a $56.00 price objective (up previously from $52.00) on shares of Alere in a research report on Monday. Zacks Investment Research downgraded shares of Alere from a “hold” rating to a “sell” rating in a research report on Monday, January 25th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Alere in a research report on Monday, January 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $53.63.

In other news, CFO James F. Hinrichs acquired 10,000 shares of Alere stock in a transaction that occurred on Thursday, November 12th. The shares were purchased at an average cost of $39.97 per share, for a total transaction of $399,700.00. Following the completion of the purchase, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $1,199,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert Bernard Hargadon acquired 1,000 shares of Alere stock in a transaction that occurred on Friday, November 13th. The shares were purchased at an average price of $38.99 per share, for a total transaction of $38,990.00. Following the completion of the purchase, the senior vice president now directly owns 8,843 shares of the company’s stock, valued at $344,788.57. The disclosure for this purchase can be found here.

A number of large investors recently bought and sold shares of the stock. Janus Capital Management boosted its stake in Alere by 1,642.7% in the third quarter. Janus Capital Management now owns 155,100 shares of the company’s stock worth $7,468,000 after buying an additional 146,200 shares during the last quarter. Manning & Napier Advisors boosted its stake in Alere by 178.9% in the fourth quarter. Manning & Napier Advisors now owns 1,481,660 shares of the company’s stock worth $57,916,000 after buying an additional 950,366 shares during the last quarter. Quantitative Systematic Strategies bought a new stake in Alere during the fourth quarter worth about $305,000. Fox Run Management bought a new stake in Alere during the fourth quarter worth about $274,000. Finally, USS Investment Management boosted its stake in Alere by 31.4% in the fourth quarter. USS Investment Management now owns 1,705,953 shares of the company’s stock worth $66,669,000 after buying an additional 408,094 shares during the last quarter.

The stock’s 50 day moving average price is $38.76 and its 200-day moving average price is $45.65. The company has a market cap of $4.66 billion and a P/E ratio of 14.260.

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).

12 Month Chart for NYSE:ALR

Receive News & Ratings for Alere Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alere Inc and related companies with MarketBeat.com's FREE daily email newsletter.