Addison Capital Co Lowers stake in Alere Inc (ALR)

Alere Inc (ALR) : Addison Capital Co reduced its stake in Alere Inc by 0.83% during the most recent quarter end. The investment management company now holds a total of 53,763 shares of Alere Inc which is valued at $2,363,421 after selling 450 shares in Alere Inc , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Alere Inc makes up approximately 2.05% of Addison Capital Co’s portfolio.

Other Hedge Funds, Including , Creative Planning reduced its stake in ALR by selling 619 shares or 18.3% in the most recent quarter. The Hedge Fund company now holds 2,764 shares of ALR which is valued at $108,819.Cutler Group Lp boosted its stake in ALR in the latest quarter, The investment management firm added 5,816 additional shares and now holds a total of 65,400 shares of Alere Inc which is valued at $2,574,798. Alere Inc makes up approx 0.17% of Cutler Group Lp’s portfolio. Next Financial Group Inc added ALR to its portfolio by purchasing 300 company shares during the most recent quarter which is valued at $11,934.Bnp Paribas Arbitrage Sa reduced its stake in ALR by selling 1,319 shares or 87.99% in the most recent quarter. The Hedge Fund company now holds 180 shares of ALR which is valued at $7,160.

Alere Inc opened for trading at $42.65 and hit $44.47 on the upside on Wednesday, eventually ending the session at $44.24, with a gain of 1.44% or 0.63 points. The heightened volatility saw the trading volume jump to 15,22,000 shares. Company has a market cap of $3,816 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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