Exchange Traded Concepts LLC Invests $795,000 in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Exchange Traded Concepts LLC purchased a new position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in the 3rd quarter, Holdings Channel reports. The firm purchased 88,773 shares of the pharmacy operator’s stock, valued at approximately $795,000.

Several other hedge funds have also recently modified their holdings of WBA. Iron Horse Wealth Management LLC grew its holdings in shares of Walgreens Boots Alliance by 162.5% in the second quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock worth $25,000 after acquiring an additional 1,300 shares during the period. Blue Trust Inc. grew its holdings in shares of Walgreens Boots Alliance by 87.0% in the second quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 1,081 shares during the period. Continuum Advisory LLC grew its holdings in shares of Walgreens Boots Alliance by 71.2% in the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 1,020 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Walgreens Boots Alliance in the second quarter worth $34,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of Walgreens Boots Alliance in the first quarter worth $35,000. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Walgreens Boots Alliance Stock Performance

NASDAQ WBA opened at $10.66 on Friday. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of -1.58, a price-to-earnings-growth ratio of 1.06 and a beta of 0.70. 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 $9.41 and a 200-day moving average price of $13.20. Walgreens Boots Alliance, Inc. has a twelve month low of $8.22 and a twelve month high of $27.05.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $37.50 billion during the quarter, compared to analyst estimates of $35.75 billion. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, equities research analysts predict that Walgreens Boots Alliance, Inc. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on WBA shares. TD Cowen cut their price objective on Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Barclays boosted their price target on Walgreens Boots Alliance from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday. Bank of America cut their price target on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating for the company in a report on Wednesday, September 4th. Morgan Stanley cut their price target on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, October 11th. Finally, 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 report on Friday, August 30th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.38.

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.