Walgreens Boots Alliance (NASDAQ:WBA) PT Lowered to $7.00 at Morgan Stanley

Walgreens Boots Alliance (NASDAQ:WBA) had its target price lowered by Morgan Stanley from $9.00 to $7.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an underweight rating on the pharmacy operator’s stock.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Walgreens Boots Alliance from $20.00 to $15.00 and set an overweight rating for the company in a research note on Friday, August 30th. UBS Group reduced their target price on shares of Walgreens Boots Alliance from $17.00 to $12.00 and set a neutral rating for the company in a research note on Wednesday, July 3rd. Bank of America dropped their price target on shares of Walgreens Boots Alliance from $11.00 to $7.50 and set an underperform rating on the stock in a research note on Wednesday, September 4th. Barclays reduced their price objective on shares of Walgreens Boots Alliance from $11.00 to $7.00 and set an underweight rating for the company in a research note on Tuesday, July 23rd. Finally, Truist Financial dropped their target price on Walgreens Boots Alliance from $13.00 to $10.00 and set a hold rating on the stock in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $13.46.

Walgreens Boots Alliance Price Performance

Walgreens Boots Alliance stock opened at $9.21 on Friday. The business’s 50 day simple moving average is $9.45 and its 200 day simple moving average is $13.40. Walgreens Boots Alliance has a 12 month low of $8.22 and a 12 month high of $27.05. The company has a market cap of $7.95 billion, a price-to-earnings ratio of -1.37, a PEG ratio of 1.04 and a beta of 0.70. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49.

Hedge Funds Weigh In On Walgreens Boots Alliance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC increased its holdings in shares of Walgreens Boots Alliance by 162.5% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock worth $25,000 after buying an additional 1,300 shares during the last quarter. Pineridge Advisors LLC bought a new position in Walgreens Boots Alliance in the fourth quarter valued at $26,000. Blue Trust Inc. raised its position in Walgreens Boots Alliance by 87.0% during the second quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 1,081 shares in the last quarter. Continuum Advisory LLC lifted its stake in Walgreens Boots Alliance by 71.2% during the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 1,020 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Walgreens Boots Alliance in the 2nd quarter worth about $34,000. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

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.