TD Cowen Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $22.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target lowered by investment analysts at TD Cowen from $35.00 to $22.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the pharmacy operator’s stock. TD Cowen’s price target points to a potential upside of 91.30% from the company’s current price.

Several other analysts also recently issued reports on the company. SVB Leerink cut 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. UBS Group cut their price target on Walgreens Boots Alliance from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, April 3rd. Morgan Stanley reduced their price objective on Walgreens Boots Alliance from $13.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Bank of America reissued an “underperform” rating and set a $11.00 price objective (down from $22.00) on shares of Walgreens Boots Alliance in a research note on Friday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.71.

Walgreens Boots Alliance Stock Down 5.0 %

Shares of WBA stock traded down $0.60 during trading hours on Monday, reaching $11.50. The company had a trading volume of 17,639,061 shares, compared to its average volume of 14,424,566. 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 twelve month low of $11.48 and a twelve month high of $31.32. The company has a market capitalization of $9.93 billion, a P/E ratio of -1.71, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72. The stock’s fifty day simple moving average is $16.49 and its 200 day simple moving average is $20.14.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The company 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 3.99% and a positive return on equity of 12.63%. Walgreens Boots Alliance’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. As a group, sell-side analysts expect that Walgreens Boots Alliance will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Walgreens Boots Alliance

In related news, Director Inderpal S. Bhandari purchased 3,000 shares of Walgreens Boots Alliance stock in a transaction on Thursday, April 11th. The stock was bought at an average price of $18.05 per share, with a total value of $54,150.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $54,150. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Manmohan Mahajan acquired 6,000 shares of the stock in a transaction dated 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 purchase, the chief financial officer now owns 166,969 shares in the company, valued at approximately $3,235,859.22. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Inderpal S. Bhandari acquired 3,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of $18.05 per share, for a total transaction of $54,150.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at approximately $54,150. The disclosure for this purchase can be found here. Corporate insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Highlander Capital Management LLC acquired a new position in shares of Walgreens Boots Alliance in the 4th quarter valued at $26,000. Pineridge Advisors LLC bought a new position in Walgreens Boots Alliance during the 4th quarter worth about $26,000. Venturi Wealth Management LLC grew its holdings in shares of Walgreens Boots Alliance by 1,241.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 981 shares in the last quarter. Rocky Mountain Advisers LLC bought a new position in shares of Walgreens Boots Alliance in the 4th quarter valued at about $30,000. Finally, Quest Partners LLC bought a new position in Walgreens Boots Alliance during the fourth quarter worth about $30,000. Institutional investors and hedge funds 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.