Alere Inc Receives a New Rating from Top Analyst

By Ryan Adsit

Jefferies analyst Brandon Couillard reiterated a Hold rating on Alere Inc (NYSE: ALR) yesterday and set a price target of $51. The company’s shares closed yesterday at $48.51, close to its 52-week high of $49.53.

According to TipRanks.com, Couillard is a top 25 analyst with an average return of 23.4% and a 79.3% success rate. Couillard covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, Orasure Technologies, and DENTSPLY SIRONA Inc.

Currently, the analyst consensus on Alere Inc is Moderate Buy and the average price target is $51, representing a 5.1% upside.

In a report issued on May 22, BTIG also reiterated a Hold rating on the stock.

Based on Alere Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $597 million and GAAP net loss of $117 million. In comparison, last year the company earned revenue of $578 million and had a GAAP net loss of $10.08 million.

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Alere, Inc. engages in developing, manufacturing, and marketing consumer and professional medical diagnostic products. It operates through the following segments: Professional Diagnostics, Consumer Diagnostics, and Corporate and Others. The Professional Diagnostics segment includes an array of diagnostic test products and other in vitro diagnostic tests. The Consumer Diagnostics segment consists manufacturing operations. The company was founded by Ronald Zwanziger on May 11, 2001 and is headquartered in Waltham, MA.