UBS Group Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $12.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective reduced by equities research analysts at UBS Group from $17.00 to $12.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the pharmacy operator’s stock. UBS Group’s target price suggests a potential upside of 8.11% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Bank of America reaffirmed an “underperform” rating and set a $11.00 target price (down previously from $22.00) on shares of Walgreens Boots Alliance in a research report on Friday, June 28th. SVB Leerink reduced their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday, March 18th. Raymond James reissued a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Tuesday, March 26th. 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 report on Wednesday, April 3rd. Finally, TD Cowen reduced 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 assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.71.

Walgreens Boots Alliance Trading Down 4.1 %

NASDAQ:WBA opened at $11.10 on Wednesday. The stock’s 50 day moving average price is $16.10 and its 200 day moving average price is $19.89. Walgreens Boots Alliance has a 52 week low of $11.10 and a 52 week high of $31.32. The company has a market capitalization of $9.58 billion, a P/E ratio of -1.65, a P/E/G ratio of 0.81 and a beta of 0.72. 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 (NASDAQ:WBA) last announced 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 for 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 firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 EPS. On average, research analysts forecast that Walgreens Boots Alliance will post 2.87 EPS for the current fiscal year.

Insider Activity at Walgreens Boots Alliance

In related news, Director Inderpal S. Bhandari acquired 3,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was purchased at an average cost of $18.05 per share, for a total transaction of $54,150.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $54,150. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WBA. Highlander Capital Management LLC acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter valued at $26,000. Pineridge Advisors LLC acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter valued at $26,000. Venturi Wealth Management LLC increased its stake in shares of Walgreens Boots Alliance by 1,241.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 981 shares in the last quarter. Rocky Mountain Advisers LLC acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter valued at $30,000. Finally, Quest Partners LLC acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter valued at $30,000. 58.59% of the stock is currently owned by institutional investors and hedge funds.

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.