Walgreens Boots Alliance (NASDAQ:WBA) Price Target Lowered to $22.00 at UBS Group

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) had its target price reduced by research analysts at UBS Group from $25.00 to $22.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the pharmacy operator’s stock. UBS Group’s price target suggests a potential upside of 17.52% from the stock’s current price.

A number of other brokerages also recently commented on WBA. Bank of America lowered their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, March 26th. Raymond James reissued a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Tuesday, March 26th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Monday, February 26th. Barclays assumed coverage on shares of Walgreens Boots Alliance in a report on Wednesday, January 3rd. They issued an “underweight” rating and a $21.00 price target on the stock. Finally, TheStreet raised shares of Walgreens Boots Alliance from a “d+” rating to a “c-” rating in a research note on Monday, January 8th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.92.

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Walgreens Boots Alliance Stock Performance

NASDAQ:WBA opened at $18.72 on Wednesday. Walgreens Boots Alliance has a twelve month low of $18.67 and a twelve month high of $36.58. The company has a market capitalization of $16.14 billion, a P/E ratio of -2.67, a price-to-earnings-growth ratio of 1.20 and a beta of 0.73. The company has a current ratio of 0.66, a quick ratio of 0.32 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $21.65 and a two-hundred day moving average price of $22.26.

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) last announced its earnings results on Thursday, March 28th. The pharmacy operator reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.38. The firm had revenue of $37.05 billion during the quarter, compared to the consensus estimate of $35.86 billion. Walgreens Boots Alliance had a negative net margin of 4.18% and a positive return on equity of 12.11%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, research analysts expect that Walgreens Boots Alliance will post 3.24 earnings per share for the current fiscal year.

Insider Transactions at Walgreens Boots Alliance

In related news, CEO Timothy C. Wentworth bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were acquired at an average cost of $24.22 per share, for a total transaction of $242,200.00. Following the acquisition, the chief executive officer now owns 585,122 shares in the company, valued at approximately $14,171,654.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Valerie B. Jarrett acquired 4,456 shares of the business’s stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $22.44 per share, for a total transaction of $99,992.64. Following the acquisition, the director now directly owns 4,456 shares of the company’s stock, valued at approximately $99,992.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy C. Wentworth acquired 10,000 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was purchased at an average cost of $24.22 per share, with a total value of $242,200.00. Following the completion of the transaction, the chief executive officer now owns 585,122 shares in the company, valued at $14,171,654.84. The disclosure for this purchase can be found here. Insiders purchased 20,456 shares of company stock valued at $458,473 over the last quarter. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WBA. HighPoint Advisor Group LLC acquired a new stake in Walgreens Boots Alliance during the 4th quarter valued at approximately $2,094,000. Quadrature Capital Ltd acquired a new position in shares of Walgreens Boots Alliance in the 4th quarter valued at approximately $837,000. Hennessy Advisors Inc. boosted its stake in shares of Walgreens Boots Alliance by 30.8% during the 4th quarter. Hennessy Advisors Inc. now owns 162,500 shares of the pharmacy operator’s stock valued at $4,243,000 after buying an additional 38,250 shares during the last quarter. PVG Asset Management Corp acquired a new stake in shares of Walgreens Boots Alliance during the fourth quarter worth approximately $372,000. Finally, Wahed Invest LLC grew its position in shares of Walgreens Boots Alliance by 9.4% during the fourth quarter. Wahed Invest LLC now owns 12,229 shares of the pharmacy operator’s stock worth $319,000 after buying an additional 1,049 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

Walgreens Boots Alliance Company Profile

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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.

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