Glazer Capital adds Alere Inc (ALR) to its portfolio

Alere Inc (ALR) : Glazer Capital added new position in Alere Inc during the most recent quarter end. The investment management firm now holds 769,922 shares of Alere Inc which is valued at $31,143,345 , the company said in a statement filed on Aug 15, 2016 with the SEC.Alere Inc makes up approximately 8.94% of Glazer Capital’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.Counsel Portfolio Services reduced its stake in ALR by selling 22,868 shares or 39.36% in the most recent quarter. The Hedge Fund company now holds 35,234 shares of ALR which is valued at $1,425,215. Alere Inc makes up approx 0.14% of Counsel Portfolio Services’s portfolio. K2 Principal Fund sold out all of its stake in ALR during the most recent quarter. The investment firm sold 198,523 shares of ALR which is valued $8,030,255.Tiaa Cref Investment Management reduced its stake in ALR by selling 12,831 shares or 4.98% in the most recent quarter. The Hedge Fund company now holds 245,001 shares of ALR which is valued at $9,910,290. Alere Inc makes up approx 0.01% of Tiaa Cref Investment 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).

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