Proxima Capital Management LLC lowered its holdings in Alere Inc. (NYSE:ALR) by 55.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,000 shares of the medical research company’s stock after selling 37,600 shares during the period. Alere makes up 0.8% of Proxima Capital Management LLC’s holdings, making the stock its 28th biggest holding. Proxima Capital Management LLC’s holdings in Alere were worth $1,506,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Airain ltd grew its holdings in shares of Alere by 97.7% in the second quarter. Airain ltd now owns 57,000 shares of the medical research company’s stock valued at $2,861,000 after purchasing an additional 28,172 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Alere in the second quarter valued at approximately $315,000. Vanguard Group Inc. grew its holdings in shares of Alere by 5.1% in the first quarter. Vanguard Group Inc. now owns 6,942,162 shares of the medical research company’s stock valued at $275,813,000 after purchasing an additional 334,936 shares in the last quarter. Cowen Inc. grew its holdings in shares of Alere by 1,232.5% in the second quarter. Cowen Inc. now owns 1,361,342 shares of the medical research company’s stock valued at $68,326,000 after purchasing an additional 1,259,181 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new position in shares of Alere in the second quarter valued at approximately $1,330,000. Hedge funds and other institutional investors own 89.33% of the company’s stock.
A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of Alere from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Canaccord Genuity reiterated a “hold” rating and issued a $51.00 price target on shares of Alere in a research note on Tuesday, September 19th. Finally, Zacks Investment Research downgraded shares of Alere from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.00.
Alere Inc is a provider of health information through diagnostic tests. The Company’s segments include professional diagnostics, consumer diagnostics, and corporate and other. 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.
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