Walgreens Boots Alliance (NASDAQ:WBA) Rating Reiterated by Bank of America

Walgreens Boots Alliance (NASDAQ:WBA)‘s stock had its “underperform” rating reissued by investment analysts at Bank of America in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $11.00 target price on the pharmacy operator’s stock, down from their previous target price of $22.00. Bank of America‘s price target indicates a potential downside of 9.05% from the company’s previous close.

Several other research analysts have also recently issued reports on WBA. Truist Financial reissued a “hold” rating and issued a $25.00 target price on shares of Walgreens Boots Alliance in a research report on Monday, April 1st. Morgan Stanley dropped their target price on Walgreens Boots Alliance from $16.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. UBS Group dropped their target price on Walgreens Boots Alliance from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, June 24th. SVB Leerink decreased their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Monday, March 18th. Finally, TD Cowen decreased their price objective on 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. Four equities 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 company’s stock. According to MarketBeat.com, Walgreens Boots Alliance has an average rating of “Hold” and a consensus price target of $20.64.

Walgreens Boots Alliance Trading Down 0.8 %

Walgreens Boots Alliance stock opened at $12.10 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.32. Walgreens Boots Alliance has a one year low of $11.68 and a one year high of $31.32. The stock has a market capitalization 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 business’s fifty day moving average is $16.49 and its 200 day moving average is $20.17.

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

Insiders Place Their Bets

In related news, CFO Manmohan Mahajan bought 6,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was purchased at an average price of $19.38 per share, for a total transaction of $116,280.00. Following the acquisition, the chief financial officer now owns 166,969 shares in the company, valued at $3,235,859.22. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 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 purchased at an average price of $18.05 per share, for a total transaction of $54,150.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at $54,150. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Manmohan Mahajan bought 6,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average price of $19.38 per share, with a total value of $116,280.00. Following the acquisition, the chief financial officer now owns 166,969 shares in the company, valued at approximately $3,235,859.22. The disclosure for this purchase can be found here. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Walgreens Boots Alliance

Large investors have recently bought and sold shares of the business. Fulton Bank N.A. raised its position in Walgreens Boots Alliance by 0.5% during the 4th quarter. Fulton Bank N.A. now owns 107,071 shares of the pharmacy operator’s stock valued at $2,796,000 after purchasing an additional 523 shares in the last quarter. Insight Folios Inc raised its position in Walgreens Boots Alliance by 5.8% during the 4th quarter. Insight Folios Inc now owns 9,640 shares of the pharmacy operator’s stock valued at $252,000 after purchasing an additional 525 shares in the last quarter. Atlas Brown Inc. raised its position in Walgreens Boots Alliance by 1.8% during the 1st quarter. Atlas Brown Inc. now owns 31,593 shares of the pharmacy operator’s stock valued at $685,000 after purchasing an additional 550 shares in the last quarter. Pinnacle Financial Partners Inc raised its position in Walgreens Boots Alliance by 4.9% during the 4th quarter. Pinnacle Financial Partners Inc now owns 11,866 shares of the pharmacy operator’s stock valued at $310,000 after purchasing an additional 555 shares in the last quarter. Finally, Westpac Banking Corp raised its position in Walgreens Boots Alliance by 10.1% during the 4th quarter. Westpac Banking Corp now owns 6,100 shares of the pharmacy operator’s stock valued at $159,000 after purchasing an additional 560 shares in the last quarter. Hedge funds and other institutional investors own 58.59% of the company’s stock.

About Walgreens Boots Alliance

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.