Walgreens Boots Alliance (NASDAQ:WBA) Price Target Cut to $7.00

Walgreens Boots Alliance (NASDAQ:WBA) had its target price dropped by stock analysts at Morgan Stanley from $9.00 to $7.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the pharmacy operator’s stock. Morgan Stanley’s price target would suggest a potential downside of 24.00% from the company’s previous close.

Other research analysts have also issued research reports about the company. Truist Financial reduced their price target on Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Monday, October 7th. Bank of America reduced their price target on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada cut their price objective on Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. TD Cowen cut their price objective on Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, UBS Group cut their price objective on Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Walgreens Boots Alliance presently has an average rating of “Hold” and a consensus target price of $13.46.

Walgreens Boots Alliance Trading Up 2.0 %

Shares of WBA stock opened at $9.21 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65. Walgreens Boots Alliance has a 1 year low of $8.22 and a 1 year high of $27.05. The stock has a fifty day moving average of $9.45 and a two-hundred day moving average of $13.45. The firm has a market capitalization of $7.95 billion, a PE ratio of -1.37, a price-to-earnings-growth ratio of 1.04 and a beta of 0.70.

Institutional Investors Weigh In On Walgreens Boots Alliance

Several hedge funds have recently modified their holdings of the stock. WNY Asset Management LLC raised its position in Walgreens Boots Alliance by 5.1% during the fourth quarter. WNY Asset Management LLC now owns 150,974 shares of the pharmacy operator’s stock valued at $3,942,000 after buying an additional 7,273 shares during the period. Neo Ivy Capital Management acquired a new position in Walgreens Boots Alliance during the fourth quarter valued at $200,000. Syon Capital LLC acquired a new position in Walgreens Boots Alliance during the fourth quarter valued at $333,000. EP Wealth Advisors LLC acquired a new position in Walgreens Boots Alliance during the fourth quarter valued at $297,000. Finally, Pineridge Advisors LLC acquired a new position in Walgreens Boots Alliance during the fourth quarter valued at $26,000. 58.59% of the stock is owned by hedge funds and other institutional investors.

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.