Alere Inc. (ALR) saw a big move last session, as the company’s shares fell nearly 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $35.67 to $33.99 in the past one-month time frame.
The diagnostic and medical services provider has seen a flat track record when it comes to current year estimate revisions over the past few weeks. The consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
ALR currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the healthcare sector include Baxter International Inc. (BAX),BioLife Solutions, Inc. (BLFSD) and Covidien plc (COV).All these stocks carry a Zacks Rank #2 (Buy).
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