Addison Capital Co Lowers stake in Alere Inc (ALR)

Alere Inc (ALR) : Addison Capital Co reduced its stake in Alere Inc by 4.66% during the most recent quarter end. The investment management company now holds a total of 54,213 shares of Alere Inc which is valued at $2,703,602 after selling 2,650 shares in Alere Inc , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Alere Inc makes up approximately 2.04% of Addison Capital Co’s portfolio.

Alere Inc closed down -0.26 points or -0.52% at $49.87 with 7,33,074 shares getting traded on Friday. Post opening the session at $50.18, the shares hit an intraday low of $49.86 and an intraday high of $50.22 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Creative Planning reduced its stake in ALR by selling 1,848 shares or 35.33% in the most recent quarter. The Hedge Fund company now holds 3,383 shares of ALR which is valued at $169,319. 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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