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

Walgreens Boots Alliance (NASDAQ:WBA)‘s stock had its “underperform” rating reaffirmed by stock analysts at Bank of America in a report released 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 target price indicates a potential downside of 12.84% from the company’s previous close.

A number of other research analysts also recently commented on the company. SVB Leerink reduced their target price on Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday, March 18th. Truist Financial reaffirmed a “hold” rating and set a $25.00 target price on shares of Walgreens Boots Alliance in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft reduced 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. UBS Group reduced their target price on Walgreens Boots Alliance from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Barclays dropped their price target on Walgreens Boots Alliance from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Monday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Walgreens Boots Alliance presently has an average rating of “Hold” and an average target price of $21.79.

Walgreens Boots Alliance Price Performance

Shares of NASDAQ:WBA traded up $0.43 on Friday, hitting $12.62. The company had a trading volume of 17,238,873 shares, compared to its average volume of 14,099,389. The company has a current ratio of 0.66, a quick ratio of 0.32 and a debt-to-equity ratio of 0.50. Walgreens Boots Alliance has a 52-week low of $11.68 and a 52-week high of $31.32. The business has a 50 day moving average of $16.72 and a 200 day moving average of $20.33. The company has a market cap of $10.89 billion, a PE ratio of -1.80, a PEG ratio of 0.98 and a beta of 0.78.

Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.04). The business had revenue of $36.40 billion during the quarter, compared to analyst estimates of $35.94 billion. Walgreens Boots Alliance had a negative net margin of 4.18% and a positive return on equity of 12.11%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. As a group, equities analysts anticipate that Walgreens Boots Alliance will post 3.21 earnings per share for the current fiscal year.

Insider Transactions at Walgreens Boots Alliance

In other news, Director Inderpal S. Bhandari acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were bought at an average price of $18.05 per share, with a total value of $54,150.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $54,150. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Manmohan Mahajan purchased 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were acquired at an average price of $19.38 per share, with a total value of $116,280.00. Following the purchase, the chief financial officer now directly owns 166,969 shares in the company, valued at $3,235,859.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Inderpal S. Bhandari acquired 3,000 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average price of $18.05 per share, with a total value of $54,150.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $54,150. The disclosure for this purchase can be found here. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Walgreens Boots Alliance

Several institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in shares of Walgreens Boots Alliance by 33.8% during the fourth quarter. Quadrant Capital Group LLC now owns 7,494 shares of the pharmacy operator’s stock worth $196,000 after acquiring an additional 1,893 shares during the last quarter. Syon Capital LLC bought a new stake in Walgreens Boots Alliance in the fourth quarter valued at about $333,000. New York Life Investment Management LLC increased its holdings in Walgreens Boots Alliance by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 115,196 shares of the pharmacy operator’s stock valued at $3,008,000 after purchasing an additional 690 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Walgreens Boots Alliance in the fourth quarter valued at about $297,000. Finally, Corient Private Wealth LLC increased its holdings in Walgreens Boots Alliance by 38.9% in the fourth quarter. Corient Private Wealth LLC now owns 280,545 shares of the pharmacy operator’s stock valued at $7,325,000 after purchasing an additional 78,523 shares during the last quarter. 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.