Truist Financial Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $12.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective trimmed by Truist Financial from $13.00 to $12.00 in a report published on Friday morning,Benzinga reports. The firm currently has a hold rating on the pharmacy operator’s stock.

A number of other equities research analysts also recently weighed in on the stock. Bank of America upped their price target on shares of Walgreens Boots Alliance from $7.50 to $8.50 and gave the company an “underperform” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price target on shares of Walgreens Boots Alliance from $9.00 to $12.00 and gave the company a “sector perform” rating in a report on Wednesday, January 15th. Jefferies Financial Group cut their price target on shares of Walgreens Boots Alliance from $19.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Evercore ISI upped their price target on shares of Walgreens Boots Alliance from $9.00 to $12.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Finally, Morgan Stanley cut their price target on shares of Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, October 11th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.19.

Walgreens Boots Alliance Stock Down 10.3 %

Walgreens Boots Alliance stock opened at $10.28 on Friday. The company has a 50-day simple moving average of $10.12 and a 200-day simple moving average of $9.85. The firm has a market capitalization of $8.88 billion, a P/E ratio of -1.00, a P/E/G ratio of 1.41 and a beta of 0.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.30 and a current ratio of 0.64. Walgreens Boots Alliance has a one year low of $8.08 and a one year high of $23.76.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings results on Friday, January 10th. The pharmacy operator reported $0.51 EPS for the quarter, topping the consensus estimate of $0.38 by $0.13. The business had revenue of $39.50 billion during the quarter, compared to analyst estimates of $37.40 billion. Walgreens Boots Alliance had a negative net margin of 5.87% and a positive return on equity of 17.61%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. As a group, equities analysts expect that Walgreens Boots Alliance will post 1.6 earnings per share for the current year.

Institutional Trading of Walgreens Boots Alliance

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Walgreens Boots Alliance by 18.0% in the third quarter. State Street Corp now owns 42,997,580 shares of the pharmacy operator’s stock worth $385,258,000 after purchasing an additional 6,569,223 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Walgreens Boots Alliance by 43.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,969,188 shares of the pharmacy operator’s stock worth $98,284,000 after buying an additional 3,329,857 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Walgreens Boots Alliance by 12.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,594,475 shares of the pharmacy operator’s stock worth $68,046,000 after buying an additional 817,762 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Walgreens Boots Alliance by 15.5% in the third quarter. Thompson Siegel & Walmsley LLC now owns 6,955,880 shares of the pharmacy operator’s stock worth $62,325,000 after buying an additional 934,754 shares during the last quarter. Finally, FMR LLC increased its holdings in Walgreens Boots Alliance by 2.5% in the third quarter. FMR LLC now owns 3,258,919 shares of the pharmacy operator’s stock worth $29,200,000 after buying an additional 80,525 shares during the last quarter. 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.