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

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective cut by TD Cowen from $35.00 to $22.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. TD Cowen’s price target indicates a potential upside of 90.15% from the company’s previous close.

Several other equities research analysts have also issued reports on WBA. Truist Financial decreased their price target on shares of Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Evercore ISI decreased their price target on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Barclays cut their price objective on shares of Walgreens Boots Alliance from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Monday, June 24th. SVB Leerink cut their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Monday, March 18th. Finally, UBS Group cut their price objective on shares of Walgreens Boots Alliance from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, June 24th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.07.

Walgreens Boots Alliance Trading Down 0.1 %

NASDAQ:WBA opened at $11.57 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65. 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. Walgreens Boots Alliance has a 52 week low of $11.40 and a 52 week high of $31.32. The firm has a 50-day moving average price of $16.36 and a two-hundred day moving average price of $20.05.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $36.40 billion for the quarter, compared to analysts’ expectations of $35.94 billion. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts expect that Walgreens Boots Alliance will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Inderpal S. Bhandari acquired 3,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $18.05 per share, for a total transaction of $54,150.00. Following the completion of 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 can be accessed through the SEC website. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of large investors have recently modified their holdings of WBA. Quadrant Capital Group LLC boosted its stake in Walgreens Boots Alliance by 33.8% during the fourth quarter. Quadrant Capital Group LLC now owns 7,494 shares of the pharmacy operator’s stock worth $196,000 after acquiring an additional 1,893 shares in the last quarter. Syon Capital LLC bought a new stake in Walgreens Boots Alliance during the fourth quarter worth about $333,000. New York Life Investment Management LLC boosted its stake in Walgreens Boots Alliance by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 115,196 shares of the pharmacy operator’s stock worth $3,008,000 after acquiring an additional 690 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Walgreens Boots Alliance during the fourth quarter worth about $297,000. Finally, Corient Private Wealth LLC boosted its stake in Walgreens Boots Alliance by 38.9% during the fourth quarter. Corient Private Wealth LLC now owns 280,545 shares of the pharmacy operator’s stock worth $7,325,000 after acquiring an additional 78,523 shares in the last quarter. 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.