Truist Financial Lowers Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $13.00

Walgreens Boots Alliance (NASDAQ:WBA) had its target price cut by equities research analysts at Truist Financial from $20.00 to $13.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the pharmacy operator’s stock. Truist Financial’s target price would suggest a potential upside of 7.48% from the company’s current price.

Other research analysts have also issued research reports about the company. Raymond James reissued a “market perform” rating on shares of Walgreens Boots Alliance in a report on Tuesday, March 26th. Barclays lowered their price objective on Walgreens Boots Alliance from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Bank of America restated an “underperform” rating and set a $11.00 target price (down previously from $22.00) on shares of Walgreens Boots Alliance in a research note on Friday. Morgan Stanley decreased their target price on Walgreens Boots Alliance from $16.00 to $13.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Finally, SVB Leerink decreased their target price on Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, March 18th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.64.

Walgreens Boots Alliance Stock Down 0.8 %

NASDAQ:WBA opened at $12.10 on Friday. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of -1.79, a PEG ratio of 0.85 and a beta of 0.78. Walgreens Boots Alliance has a 1-year low of $11.68 and a 1-year high of $31.32. The company has a current ratio of 0.65, a quick ratio of 0.32 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average price is $16.49 and its 200 day moving average price is $20.17.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Walgreens Boots Alliance

Hedge funds and other institutional investors have recently made changes to their positions in the company. Highlander Capital Management LLC acquired a new stake in shares of Walgreens Boots Alliance in the 4th quarter valued at $26,000. Pineridge Advisors LLC bought a new position in shares of Walgreens Boots Alliance in the 4th quarter worth $26,000. Venturi Wealth Management LLC boosted its position in shares of Walgreens Boots Alliance by 1,241.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 981 shares during the last quarter. Rocky Mountain Advisers LLC bought a new position in shares of Walgreens Boots Alliance in the 4th quarter worth $30,000. Finally, Quest Partners LLC bought a new position in shares of Walgreens Boots Alliance in the 4th quarter worth $30,000. 58.59% of the stock is owned by institutional investors and hedge funds.

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.