Kellner Capital adds Alere Inc (ALR) to its portfolio

Alere Inc (ALR) : Kellner Capital added new position in Alere Inc during the most recent quarter end. The investment management firm now holds 259,800 shares of Alere Inc which is valued at $10.4 Million , the company said in a statement filed on May 12, 2016 with the SEC.Alere Inc makes up approximately 7.27% of Kellner Capital’s portfolio.

Other Hedge Funds, Including , Mosaic Family Wealth sold out all of its stake in ALR during the most recent quarter. The investment firm sold 8 shares of ALR which is valued $319.Ibm Retirement Fund reduced its stake in ALR by selling 11,095 shares or 56.41% in the most recent quarter. The Hedge Fund company now holds 8,575 shares of ALR which is valued at $341,885. Alere Inc makes up approx 0.01% of Ibm Retirement Fund’s portfolio.Tiaa Cref Investment Management reduced its stake in ALR by selling 1,662 shares or 0.5% in the most recent quarter. The Hedge Fund company now holds 327,657 shares of ALR which is valued at $12.9 Million. Alere Inc makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio.Gryphon International Investment Corp boosted its stake in ALR in the latest quarter, The investment management firm added 36,974 additional shares and now holds a total of 541,078 shares of Alere Inc which is valued at $21.4 Million. Alere Inc makes up approx 4.66% of Gryphon International Investment Corp’s portfolio.California Public Employees Retirement System reduced its stake in ALR by selling 700 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 147,844 shares of ALR which is valued at $5.8 Million. Alere Inc makes up approx 0.01% of California Public Employees Retirement System’s portfolio.

Alere Inc opened for trading at $40.42 and hit $40.84 on the upside on Friday, eventually ending the session at $40.67, with a gain of 0.72% or 0.29 points. The heightened volatility saw the trading volume jump to 6,37,143 shares. Company has a market cap of $3,508 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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