Simplex Trading Lowers stake in Alere Inc (ALR)

Alere Inc (ALR) : Simplex Trading reduced its stake in Alere Inc by 41.86% during the most recent quarter end. The investment management company now holds a total of 11,511 shares of Alere Inc which is valued at $501,649 after selling 8,288 shares in Alere Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Alere Inc makes up approximately 0.07% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in ALR in the latest quarter, The investment management firm added 1,274 additional shares and now holds a total of 1,454 shares of Alere Inc which is valued at $63,511.

Alere Inc closed down -0.31 points or -0.71% at $43.58 with 3,49,549 shares getting traded on Friday. Post opening the session at $43.79, the shares hit an intraday low of $43.43 and an intraday high of $43.9 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Many Wall Street Analysts have commented on Alere Inc. 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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