TD Cowen Lowers Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $22.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective dropped by equities research analysts at TD Cowen from $35.00 to $22.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the pharmacy operator’s stock. TD Cowen’s price target would indicate a potential upside of 90.15% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. Raymond James restated a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft dropped their target price on Walgreens Boots Alliance from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. Truist Financial dropped their price objective on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, June 28th. 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 report on Monday, March 18th. Finally, Bank of America restated an “underperform” rating and set a $11.00 price objective (down previously from $22.00) on shares of Walgreens Boots Alliance in a research report on Friday, June 28th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.07.

Walgreens Boots Alliance Stock Down 0.1 %

Shares of NASDAQ:WBA opened at $11.57 on Monday. The firm’s 50 day moving average price is $16.36 and its 200 day moving average price is $20.05. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of -1.72, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72. Walgreens Boots Alliance has a fifty-two week low of $11.40 and a fifty-two week high of $31.32.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.05). Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. 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 posted $1.00 earnings per share. Walgreens Boots Alliance’s revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Walgreens Boots Alliance will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Inderpal S. Bhandari bought 3,000 shares of the stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $18.05 per share, for a total transaction of $54,150.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $54,150. The purchase was disclosed in a filing with the SEC, which is available through this link. 17.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Walgreens Boots Alliance

Several large investors have recently made changes to their positions in WBA. Highlander Capital Management LLC acquired a new position in Walgreens Boots Alliance in the 4th quarter valued at approximately $26,000. Pineridge Advisors LLC bought a new stake in Walgreens Boots Alliance during the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC boosted its position in 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 valued at $28,000 after buying an additional 981 shares during the last quarter. Rocky Mountain Advisers LLC bought a new position in Walgreens Boots Alliance in the 4th quarter valued at $30,000. Finally, Quest Partners LLC acquired a new position in shares of Walgreens Boots Alliance in the 4th quarter valued at $30,000. 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.