Cheyne Capital Management (uk) Llp adds Alere Inc (ALR) to its portfolio

Alere Inc (ALR) : Cheyne Capital Management (uk) Llp added new position in Alere Inc during the most recent quarter end. The investment management firm now holds 761,856 shares of Alere Inc which is valued at $33,034,076 , the company said in a statement filed on Apr 18, 2016 with the SEC.Alere Inc makes up approximately 15.27% of Cheyne Capital Management (uk) Llp’s portfolio.

Alere Inc opened for trading at $43.37 and hit $43.7 on the upside on Friday, eventually ending the session at $43.36, with a gain of 0.37% or 0.16 points. The heightened volatility saw the trading volume jump to 33,35,850 shares. Company has a market cap of $3,740 M.

Other Hedge Funds, Including , Fox Run Management L.l.c. sold out all of its stake in ALR during the most recent quarter. The investment firm sold 7,000 shares of ALR which is valued $303,520. Manning Napier Advisors sold out all of its stake in ALR during the most recent quarter. The investment firm sold 1,481,660 shares of ALR which is valued $73,890,384.Addison Capital Co reduced its stake in ALR by selling 2,650 shares or 4.66% in the most recent quarter. The Hedge Fund company now holds 54,213 shares of ALR which is valued at $2,703,602. Alere Inc makes up approx 2.04% of Addison Capital Co’s portfolio. Proficio Capital Partners added ALR to its portfolio by purchasing 8 company shares during the most recent quarter which is valued at $400.

On the company’s financial health, Alere Inc reported $0.54 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Nov 4, 2015. Analyst had a consensus of $0.60. The company had revenue of $602.00 million for the quarter, compared to analysts expectations of $646.29 million. The company’s revenue was down -7.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Alere Inc. Alere Inc was Downgraded by Goldman to ” Neutral” on Feb 2, 2016. Alere Inc was Downgraded by Jefferies to ” Hold” on Feb 2, 2016. Alere Inc was Downgraded by Raymond James to ” Mkt Perform” on Feb 2, 2016.

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 (SPD) its 50/50 joint venture with The Procter & Gamble Company (P&G).

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