Several other analysts have also recently commented on the stock. Analysts at Capstone Investments downgraded shares of Alere from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They now have a $32.00 price target on the stock. Separately, analysts at Wedbush cut their price target on shares of Alere to $23.00 in a research note to investors on Monday, May 14th. They now have a “neutral” rating on the stock. Finally, analysts at Leerink Swann downgraded shares of Alere from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, May 11st.
Alere traded up 1.23% on Wednesday, hitting $18.545. Alere has a 52-week low of $17.82 and a 52-week high of $40.23. The company’s market cap is $1.490 billion.
Alere last posted its quarterly earnings results on Monday, April 30th. The company reported $0.77 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.67 by $0.10. Alere’s revenue was up 15.4% compared to the same quarter last year. Analysts expect that Alere will post $0.59 EPS next quarter.
Alere Inc., formerly Inverness Medical Innovations, Inc., provides diagnostics and health management solutions.