Alere Inc (NYSE:ALR) was downgraded by Goldman Sachs from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports. They presently have a $56.00 target price on the stock, up from their previous target price of $47.00. Goldman Sachs’ target price would suggest a potential upside of 3.49% from the stock’s current price.

Shares of Alere (NYSE:ALR) traded up 45.46% during midday trading on Monday, reaching $54.11. The company’s stock had a trading volume of 32,045,244 shares. Alere has a 12 month low of $31.96 and a 12 month high of $55.99. The stock’s 50 day moving average is $38.76 and its 200 day moving average is $45.65. The stock has a market capitalization of $4.67 billion and a PE ratio of 14.30.

Alere (NYSE:ALR) last issued its earnings results on Wednesday, November 4th. The company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.07. The business earned $602 million during the quarter, compared to the consensus estimate of $646.29 million. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. On average, analysts forecast that Alere will post $2.22 EPS for the current fiscal year.

A number of other equities analysts also recently commented on ALR. BTIG Research restated a “buy” rating and issued a $65.00 target price on shares of Alere in a research note on Friday, October 23rd. Canaccord Genuity restated a “buy” rating and issued a $52.00 target price (down from $60.00) on shares of Alere in a research note on Monday, November 2nd. Leerink Swann lifted 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 lifted their price target on Alere from $46.00 to $50.00 and gave the company a “strong-buy” rating in a report on Monday, November 2nd. Finally, Wedbush lifted their price target on Alere from $38.00 to $41.00 in a report on Monday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $51.86.

Several hedge funds and institutional investors recently bought and sold shares of ALR. California State Teachers Retirement System boosted its position in Alere by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 159,535 shares of the company’s stock valued at $6,236,000 after buying an additional 2,480 shares in the last quarter. DIAM Co. Ltd. boosted its position in Alere by 13.3% in the fourth quarter. DIAM Co. Ltd. now owns 55,124 shares of the company’s stock valued at $2,187,000 after buying an additional 6,455 shares in the last quarter. USS Investment Management boosted its position in 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 in the last quarter. Fox Run Management bought a new position in Alere during the fourth quarter valued at about $274,000. Finally, Quantitative Systematic Strategies bought a new position in Alere during the fourth quarter valued at about $305,000.

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

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

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