Walgreens Boots Alliance (NASDAQ:WBA) PT Lowered to $49.00

Walgreens Boots Alliance (NASDAQ:WBAGet Rating) had its price target cut by equities researchers at Cowen to $49.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. Cowen’s target price would suggest a potential upside of 17.45% from the company’s previous close.

WBA has been the topic of several other reports. TheStreet cut Walgreens Boots Alliance from a “b-” rating to a “c+” rating in a research report on Monday, May 2nd. Robert W. Baird cut Walgreens Boots Alliance from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $51.00 in a research report on Friday, April 1st. Morgan Stanley dropped their price objective on Walgreens Boots Alliance from $50.00 to $43.00 and set an “underweight” rating on the stock in a research report on Thursday, June 2nd. Barclays dropped their price objective on Walgreens Boots Alliance from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, April 1st. Finally, Cowen dropped their price objective on Walgreens Boots Alliance from $55.00 to $50.00 in a research report on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.21.

Shares of NASDAQ:WBA traded down $0.88 on Thursday, hitting $41.72. 5,170,464 shares of the company traded hands, compared to its average volume of 7,000,280. Walgreens Boots Alliance has a 52 week low of $39.72 and a 52 week high of $55.82. The company has a quick ratio of 0.35, a current ratio of 0.74 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $43.80 and a 200-day simple moving average of $47.23. The company has a market cap of $36.04 billion, a PE ratio of 5.75, a PEG ratio of 2.34 and a beta of 0.55.

Walgreens Boots Alliance (NASDAQ:WBAGet Rating) last issued its quarterly earnings results on Thursday, March 31st. The pharmacy operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.20. Walgreens Boots Alliance had a return on equity of 19.15% and a net margin of 4.62%. The firm had revenue of $33.76 billion during the quarter, compared to the consensus estimate of $33.33 billion. During the same period last year, the company earned $1.40 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Walgreens Boots Alliance will post 5.05 earnings per share for the current year.

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 6,000,000 shares of Walgreens Boots Alliance stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $150.00, for a total transaction of $900,000,000.00. Following the transaction, the insider now directly owns 52,854,867 shares of the company’s stock, valued at approximately $7,928,230,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of WBA. Rise Advisors LLC bought a new stake in Walgreens Boots Alliance during the 4th quarter valued at approximately $27,000. Iron Horse Wealth Management LLC raised its stake in Walgreens Boots Alliance by 56.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 635 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 228 shares during the period. City State Bank bought a new stake in Walgreens Boots Alliance during the 4th quarter valued at approximately $30,000. Outfitter Financial LLC bought a new stake in Walgreens Boots Alliance during the 4th quarter valued at approximately $31,000. Finally, West Bancorporation Inc. bought a new stake in Walgreens Boots Alliance during the 4th quarter valued at approximately $34,000. 57.02% of the stock is currently owned by institutional investors.

Walgreens Boots Alliance Company Profile (Get Rating)

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and beauty retail company. It operates through two segments, the United States and International. The United States segment sells prescription drugs and an assortment of retail products, including health, wellness, beauty, personal care, consumable, and general merchandise products through its retail drugstores.

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