Alere Inc (ALR) : Westchester Capital Management reduced its stake in Alere Inc by 74.14% during the most recent quarter end. The investment management company now holds a total of 679,528 shares of Alere Inc which is valued at $27,486,908 after selling 1,947,778 shares in Alere Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Alere Inc makes up approximately 0.85% of Westchester Capital Management’s portfolio.
Other Hedge Funds, Including , Gardner Lewis Asset Management L P boosted its stake in ALR in the latest quarter, The investment management firm added 95,454 additional shares and now holds a total of 250,454 shares of Alere Inc which is valued at $10,130,864. Alere Inc makes up approx 1.45% of Gardner Lewis Asset Management L P’s portfolio. Jefferies Group added ALR to its portfolio by purchasing 15,218 company shares during the most recent quarter which is valued at $615,568. Alere Inc makes up approx 0.02% of Jefferies Group’s portfolio.Hightower Advisors boosted its stake in ALR in the latest quarter, The investment management firm added 1,215 additional shares and now holds a total of 31,385 shares of Alere Inc which is valued at $1,269,523. Alere Inc makes up approx 0.02% of Hightower Advisors’s portfolio. Trexquant Investment Lp added ALR to its portfolio by purchasing 48,900 company shares during the most recent quarter which is valued at $1,978,005. Alere Inc makes up approx 0.25% of Trexquant Investment Lp’s portfolio. Mcclain Value Management added ALR to its portfolio by purchasing 83,522 company shares during the most recent quarter which is valued at $3,347,562. Alere Inc makes up approx 2.68% of Mcclain Value Management’s portfolio.
Alere Inc closed down -0.69 points or -1.76% at $38.44 with 7,76,270 shares getting traded on Thursday. Post opening the session at $38.7, the shares hit an intraday low of $38.31 and an intraday high of $39.12 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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. 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).