Alere Inc (ALR) is Reiterated by Canaccord Genuity to Buy, Lowers Price Target to $ 53

Alere Inc (ALR) was Reiterated by Canaccord Genuity to “Buy” while Lowering the Price Target of the company shares to $ 53 from a previous price target of $56 . Canaccord Genuity advised their investors in a research report released on Sep 29, 2016.

On the company’s financial health, Alere Inc reported $-0.46 EPS for the quarter, missing the analyst consensus estimate by $ -1.04 based on the information available during the earnings call on Sep 6, 2016. Analyst had a consensus of $0.58. The company had revenue of $611.10 million for the quarter, compared to analysts expectations of $607.44 million. The company’s revenue was down -2.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.

Alere Inc opened for trading at $43.06 and hit $43.75 on the upside on Tuesday, eventually ending the session at $43.58, with a gain of 1.00% or 0.43 points. The heightened volatility saw the trading volume jump to 6,59,522 shares. Company has a market cap of $3,780 M.

In a different news, on Apr 27, 2016, Carla Flakne (VP, Chief Accounting Officer) sold 10,000 shares at $42.44 per share price. According to the SEC, on Apr 12, 2016, Carol R Goldberg (director) sold 110 shares at $39.46 per share price. On Feb 3, 2016, Melissa Guerdan (SVP, Global Quality & Reg.) sold 2,500 shares at $54.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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).

Alere Inc

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