Monashee Investment Management adds Alere Inc (ALR) to its portfolio

Alere Inc (ALR) : Monashee Investment Management added new position in Alere Inc during the most recent quarter end. The investment management firm now holds 10,000 shares of Alere Inc which is valued at $372,400 , the company said in a statement filed on Aug 2, 2016 with the SEC.Alere Inc makes up approximately 0.57% of Monashee Investment Management’s portfolio.

Other Hedge Funds, Including , Dupont Capital Management Corp sold out all of its stake in ALR during the most recent quarter. The investment firm sold 7,400 shares of ALR which is valued $275,576. Pitcairn Co sold out all of its stake in ALR during the most recent quarter. The investment firm sold 4,476 shares of ALR which is valued $140,860.Simplex Trading reduced its stake in ALR by selling 2,413 shares or 10.86% in the most recent quarter. The Hedge Fund company now holds 19,799 shares of ALR which is valued at $875,908. Alere Inc makes up approx 0.11% of Simplex Trading’s portfolio.

Alere Inc opened for trading at $40.6 and hit $40.68 on the upside on Monday, eventually ending the session at $38.5, with a gain of 2.78% or 1.04 points. The heightened volatility saw the trading volume jump to 30,11,755 shares. Company has a market cap of $3,321 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.

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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