Redwood Capital Management adds Alere Inc (ALR) to its portfolio

Alere Inc (ALR) : Redwood Capital Management added new position in Alere Inc during the most recent quarter end. The investment management firm now holds 50,000 shares of Alere Inc which is valued at $1,762,000 , the company said in a statement filed on Nov 14, 2016 with the SEC.Alere Inc makes up approximately 0.24% of Redwood Capital Management’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank sold out all of its stake in ALR during the most recent quarter. The investment firm sold 11,068 shares of ALR which is valued $390,036. Atlantic Trust Group added ALR to its portfolio by purchasing 11,570 company shares during the most recent quarter which is valued at $406,454.New York State Common Retirement Fund boosted its stake in ALR in the latest quarter, The investment management firm added 11,764 additional shares and now holds a total of 359,580 shares of Alere Inc which is valued at $12,851,389. Alere Inc makes up approx 0.02% of New York State Common Retirement Fund’s portfolio.Great West Life Assurance Co Can boosted its stake in ALR in the latest quarter, The investment management firm added 2,431 additional shares and now holds a total of 11,181 shares of Alere Inc which is valued at $497,890. Ota Financial Group sold out all of its stake in ALR during the most recent quarter. The investment firm sold 22,800 shares of ALR which is valued $1,015,284.

Alere Inc closed down -0.01 points or -0.03% at $38.95 with 5,15,771 shares getting traded on Monday. Post opening the session at $38.95, the shares hit an intraday low of $38.75 and an intraday high of $39.21 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Alere Inc reported $0.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.31 based on the information available during the earnings call on Nov 4, 2016. Analyst had a consensus of $0.50. The company had revenue of $582.40 million for the quarter, compared to analysts expectations of $605.50 million. The company’s revenue was down -3.5 % compared to the same quarter last year.

Many Wall Street Analysts have commented on Alere Inc. Shares were Reiterated by Canaccord Genuity on Nov 7, 2016 to “Buy” and Lowered the Price Target to $ 50 from a previous price target of $53 .Shares were Reiterated by Canaccord Genuity on Sep 29, 2016 to “Buy” and Lowered the Price Target to $ 53 from a previous price target of $56 .

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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