TD Cowen Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $35.00

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) had its price target lowered by stock analysts at TD Cowen from $37.00 to $35.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. TD Cowen’s target price points to a potential upside of 86.97% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Raymond James reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a report on Tuesday, March 26th. SVB Leerink decreased their price target 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. HSBC reissued a “reduce” rating and set a $20.00 price objective (down from $27.00) on shares of Walgreens Boots Alliance in a report on Tuesday, February 20th. Barclays initiated coverage on shares of Walgreens Boots Alliance in a research note on Wednesday, January 3rd. They issued an “underweight” rating and a $21.00 target price on the stock. Finally, Bank of America cut their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.71.

View Our Latest Research Report on Walgreens Boots Alliance

Walgreens Boots Alliance Price Performance

Shares of WBA remained flat at $18.72 during trading hours on Wednesday. 8,419,180 shares of the stock traded hands, compared to its average volume of 14,439,095. The stock has a market capitalization of $16.14 billion, a PE ratio of -2.68, a price-to-earnings-growth ratio of 1.20 and a beta of 0.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.66 and a quick ratio of 0.32. The company’s 50 day moving average price is $21.57 and its two-hundred day moving average price is $22.23. Walgreens Boots Alliance has a fifty-two week low of $18.58 and a fifty-two week high of $36.58.

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) last issued its quarterly earnings data on Thursday, March 28th. The pharmacy operator reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.38. The firm had revenue of $37.05 billion for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. Equities analysts predict that Walgreens Boots Alliance will post 3.24 EPS for the current fiscal year.

Insider Buying and Selling at Walgreens Boots Alliance

In other Walgreens Boots Alliance news, CFO Manmohan Mahajan purchased 6,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average cost 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 of the company’s stock, valued at $3,235,859.22. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Valerie B. Jarrett purchased 4,456 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $22.44 per share, for a total transaction of $99,992.64. Following the completion of the purchase, the director now directly owns 4,456 shares in the company, valued at $99,992.64. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Manmohan Mahajan purchased 6,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were bought at an average cost of $19.38 per share, for a total transaction of $116,280.00. Following the transaction, the chief financial officer now directly owns 166,969 shares in the company, valued at $3,235,859.22. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 20,456 shares of company stock worth $458,473. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Walgreens Boots Alliance

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Walgreens Boots Alliance by 14.5% in the 3rd quarter. Vanguard Group Inc. now owns 86,675,198 shares of the pharmacy operator’s stock valued at $1,927,656,000 after purchasing an additional 10,962,030 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Walgreens Boots Alliance by 84,503.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,325,830 shares of the pharmacy operator’s stock valued at $311,053,000 after buying an additional 8,315,989 shares during the period. Capital World Investors lifted its position in shares of Walgreens Boots Alliance by 29.1% in the fourth quarter. Capital World Investors now owns 18,448,648 shares of the pharmacy operator’s stock valued at $481,694,000 after buying an additional 4,163,317 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Walgreens Boots Alliance by 21.5% during the 3rd quarter. Invesco Ltd. now owns 17,026,420 shares of the pharmacy operator’s stock worth $378,668,000 after acquiring an additional 3,013,807 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Walgreens Boots Alliance by 4.6% during the 1st quarter. BlackRock Inc. now owns 63,406,129 shares of the pharmacy operator’s stock worth $2,192,584,000 after acquiring an additional 2,797,885 shares during the last quarter. 58.59% of the stock is owned by institutional investors.

About Walgreens Boots Alliance

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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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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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