Deimos Asset Management adds Alere Inc (ALR) to its portfolio

Alere Inc (ALR) : Deimos Asset Management added new position in Alere Inc during the most recent quarter end. The investment management firm now holds 80,000 shares of Alere Inc which is valued at $3.2 Million , the company said in a statement filed on May 13, 2016 with the SEC.Alere Inc makes up approximately 2.69% of Deimos Asset Management’s portfolio.

Other Hedge Funds, Including , Carlson Capital L P boosted its stake in ALR in the latest quarter, The investment management firm added 1,294,954 additional shares and now holds a total of 1,734,000 shares of Alere Inc which is valued at $69.1 Million. Alere Inc makes up approx 0.88% of Carlson Capital L P’s portfolio.Raymond James Associates reduced its stake in ALR by selling 41,804 shares or 82.28% in the most recent quarter. The Hedge Fund company now holds 9,002 shares of ALR which is valued at $358,910.Ubs Asset Management Americas Inc reduced its stake in ALR by selling 4,081 shares or 5.74% in the most recent quarter. The Hedge Fund company now holds 67,034 shares of ALR which is valued at $2.7 Million.Counsel Portfolio Services reduced its stake in ALR by selling 7,685 shares or 11.68% in the most recent quarter. The Hedge Fund company now holds 58,102 shares of ALR which is valued at $2.3 Million. Alere Inc makes up approx 0.23% of Counsel Portfolio Services’s portfolio. Oppenheimerfunds added ALR to its portfolio by purchasing 13,339 company shares during the most recent quarter which is valued at $531,826.

Alere Inc opened for trading at $40.9 and hit $41.29 on the upside on Wednesday, eventually ending the session at $41, with a gain of 0.59% or 0.24 points. The heightened volatility saw the trading volume jump to 5,65,637 shares. Company has a market cap of $3,537 M.

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 Upgraded by Craig Hallum to ” Buy” on Apr 29, 2016. Alere Inc was Upgraded by Leerink Partners to ” Outperform” on Apr 28, 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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