JPMorgan Chase & Co. Lowers Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $20.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $30.00 to $20.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the pharmacy operator’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 72.86% from the company’s current price.

WBA has been the topic of a number of other reports. Bank of America reiterated an “underperform” rating and issued a $11.00 target price (down from $22.00) on shares of Walgreens Boots Alliance in a research report on Friday, June 28th. Evercore ISI decreased their price objective on Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Barclays decreased their price objective on Walgreens Boots Alliance from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Finally, TD Cowen decreased their price objective on Walgreens Boots Alliance from $35.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.07.

Walgreens Boots Alliance Stock Performance

NASDAQ WBA opened at $11.57 on Monday. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of -1.72, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $16.36 and a 200-day moving average price of $20.05. Walgreens Boots Alliance has a twelve month low of $11.40 and a twelve month high of $31.32.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The business had revenue of $36.40 billion during the quarter, compared to the consensus estimate of $35.94 billion. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $1.00 EPS. As a group, equities research analysts predict that Walgreens Boots Alliance will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling at Walgreens Boots Alliance

In related news, Director Inderpal S. Bhandari bought 3,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were 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 of the company’s stock, valued at $54,150. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 17.40% of the company’s stock.

Institutional Trading of Walgreens Boots Alliance

Hedge funds and other institutional investors have recently made changes to their positions in the business. Highlander Capital Management LLC purchased a new stake in shares of Walgreens Boots Alliance during the 4th quarter valued at $26,000. Pineridge Advisors LLC purchased a new stake in shares of Walgreens Boots Alliance during the 4th quarter valued at $26,000. Venturi Wealth Management LLC lifted its holdings in shares of Walgreens Boots Alliance by 1,241.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 981 shares during the last quarter. Rocky Mountain Advisers LLC purchased a new stake in shares of Walgreens Boots Alliance during the 4th quarter valued at $30,000. Finally, Quest Partners LLC purchased a new stake in shares of Walgreens Boots Alliance during the 4th quarter valued at $30,000. Hedge funds and other 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.