NEW YORK (TheStreet) -- Alere (ALR) shares are up 12.6% to $41.22 on Monday after it was reported that the company's former CEO is working with shareholders to buy the company and take it private for $46 per share.
Former CEO Ron Zwanziger reported a 4.68% stake in the company as of September 12 and has been in contact with at least one company executive, according to a security filing, Bloomberg reports.
Zwanziger resigned from his position of CEO in July.
A $46 per share deal values the point-of-care health services provider at $3.82 billion.
TheStreet Ratings team rates ALERE INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ALERE INC (ALR) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: