Evercore ISI Lowers Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $10.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target dropped by Evercore ISI from $17.00 to $10.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “in-line” rating on the pharmacy operator’s stock. Evercore ISI’s price target points to a potential downside of 17.32% from the company’s current price.

WBA has been the topic of a number of other research reports. Barclays cut their target price on shares of Walgreens Boots Alliance from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. TD Cowen dropped their price objective on shares of Walgreens Boots Alliance from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. UBS Group dropped their price objective on shares of Walgreens Boots Alliance from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 24th. Truist Financial reiterated a “hold” rating and set a $25.00 price objective on shares of Walgreens Boots Alliance in a research note on Monday, April 1st. Finally, Bank of America dropped their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.64.

Walgreens Boots Alliance Stock Performance

Shares of Walgreens Boots Alliance stock opened at $12.10 on Friday. The firm has a market cap of $10.43 billion, a PE ratio of -1.79, a price-to-earnings-growth ratio of 0.85 and a beta of 0.78. The firm’s 50-day simple moving average is $16.49 and its 200-day simple moving average is $20.17. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.32 and a current ratio of 0.65. Walgreens Boots Alliance has a 1 year low of $11.68 and a 1 year high of $31.32.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.04). The company had revenue of $36.40 billion during the quarter, compared to analyst estimates of $35.94 billion. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. Equities analysts forecast that Walgreens Boots Alliance will post 2.88 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Inderpal S. Bhandari acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was acquired at an average cost of $18.05 per share, for a total transaction of $54,150.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $54,150. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Walgreens Boots Alliance news, Director Inderpal S. Bhandari bought 3,000 shares of Walgreens Boots Alliance stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $18.05 per share, for a total transaction of $54,150.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, valued at approximately $54,150. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Manmohan Mahajan bought 6,000 shares of Walgreens Boots Alliance stock in a transaction that occurred on Tuesday, April 2nd. The shares were acquired at an average price of $19.38 per share, with a total value of $116,280.00. Following the completion of the acquisition, the chief financial officer now directly owns 166,969 shares of the company’s stock, valued at approximately $3,235,859.22. The disclosure for this purchase can be found here. Insiders own 17.40% of the company’s stock.

Institutional Trading of Walgreens Boots Alliance

Large investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its holdings in Walgreens Boots Alliance by 33.8% during the fourth quarter. Quadrant Capital Group LLC now owns 7,494 shares of the pharmacy operator’s stock worth $196,000 after buying an additional 1,893 shares in the last quarter. Syon Capital LLC purchased a new stake in shares of Walgreens Boots Alliance in the 4th quarter valued at approximately $333,000. New York Life Investment Management LLC lifted its position in shares of Walgreens Boots Alliance by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 115,196 shares of the pharmacy operator’s stock valued at $3,008,000 after acquiring an additional 690 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Walgreens Boots Alliance in the 4th quarter valued at approximately $297,000. Finally, Corient Private Wealth LLC lifted its position in shares of Walgreens Boots Alliance by 38.9% in the 4th quarter. Corient Private Wealth LLC now owns 280,545 shares of the pharmacy operator’s stock valued at $7,325,000 after acquiring an additional 78,523 shares in the last quarter. 58.59% of the stock is currently owned by institutional investors.

Walgreens Boots Alliance Company Profile

Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally. It operates through three segments: U.S. Retail Pharmacy, International, and U.S. Healthcare. The U.S. Retail Pharmacy segment engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.