Walgreens Boots Alliance (NASDAQ:WBA) Price Target Cut to $13.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective decreased by stock analysts at Royal Bank of Canada from $22.00 to $13.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the pharmacy operator’s stock. Royal Bank of Canada’s price target points to a potential upside of 13.14% from the company’s current price.

A number of other research analysts also recently issued reports on the company. UBS Group decreased their price target on Walgreens Boots Alliance from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, June 24th. Barclays cut their price objective on Walgreens Boots Alliance from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. JPMorgan Chase & Co. cut their price objective on Walgreens Boots Alliance from $30.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday. Evercore ISI cut their price objective on Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating for the company in a research report on Friday. Finally, TD Cowen cut their price objective on Walgreens Boots Alliance from $35.00 to $22.00 and set a “buy” rating for the company 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 issued a buy rating to the company. According to data from MarketBeat.com, Walgreens Boots Alliance currently has a consensus rating of “Hold” and an average price target of $18.07.

Walgreens Boots Alliance Stock Performance

Shares of Walgreens Boots Alliance stock traded down $0.09 on Tuesday, reaching $11.49. 2,922,131 shares of the stock were exchanged, compared to its average volume of 14,473,870. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. Walgreens Boots Alliance has a twelve month low of $11.40 and a twelve month high of $31.32. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of -1.71, a PEG ratio of 0.82 and a beta of 0.72. The business has a 50 day moving average price of $16.49 and a two-hundred day moving average price of $20.14.

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 analysts’ consensus estimates of $0.68 by ($0.05). Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The firm had revenue of $36.40 billion for the quarter, compared to analyst estimates of $35.94 billion. During the same period last year, the firm earned $1.00 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts anticipate that Walgreens Boots Alliance will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Inderpal S. Bhandari bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average price of $18.05 per share, with a total value of $54,150.00. Following the purchase, the director now owns 3,000 shares in the company, valued at $54,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Walgreens Boots Alliance

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased 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 acquiring an additional 10,962,030 shares during the last quarter. Capital World Investors increased its holdings in shares of Walgreens Boots Alliance by 57.5% in the 1st quarter. Capital World Investors now owns 29,061,021 shares of the pharmacy operator’s stock valued at $630,334,000 after acquiring an additional 10,612,373 shares during the last quarter. Morgan Stanley grew its stake in Walgreens Boots Alliance by 15.8% during the 3rd quarter. Morgan Stanley now owns 12,584,371 shares of the pharmacy operator’s stock worth $279,876,000 after buying an additional 1,720,228 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Walgreens Boots Alliance by 10.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,519,845 shares of the pharmacy operator’s stock worth $170,233,000 after buying an additional 613,847 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Walgreens Boots Alliance by 12.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,077,336 shares of the pharmacy operator’s stock worth $80,349,000 after buying an additional 339,143 shares during the last quarter. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Walgreens Boots Alliance Company Profile

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.