Morgan Stanley Lowers Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $20.00

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) had its price target cut by stock analysts at Morgan Stanley from $21.00 to $20.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the pharmacy operator’s stock. Morgan Stanley’s price target would indicate a potential upside of 6.84% from the stock’s current price.

A number of other research firms have also recently issued reports on WBA. Bank of America cut their price target on Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. HSBC restated a “reduce” rating and set a $20.00 price target (down from $27.00) on shares of Walgreens Boots Alliance in a report on Tuesday, February 20th. SVB Leerink cut their price target on Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday, March 18th. Raymond James restated a “market perform” rating on shares of Walgreens Boots Alliance in a report on Tuesday, March 26th. Finally, TheStreet upgraded Walgreens Boots Alliance from a “d+” rating to a “c-” rating in a report on Monday, January 8th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.92.

View Our Latest Report on Walgreens Boots Alliance

Walgreens Boots Alliance Stock Performance

NASDAQ:WBA opened at $18.72 on Monday. The stock has a market cap of $16.14 billion, a P/E ratio of -2.67, a price-to-earnings-growth ratio of 1.34 and a beta of 0.73. The company has a current ratio of 0.66, a quick ratio of 0.32 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average is $21.65 and its 200-day moving average is $22.26. Walgreens Boots Alliance has a 1-year low of $18.67 and a 1-year high of $36.58.

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) last released its quarterly earnings results on Thursday, March 28th. The pharmacy operator reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.38. Walgreens Boots Alliance had a positive return on equity of 12.11% and a negative net margin of 4.18%. The company had revenue of $37.05 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the previous year, the business posted $1.16 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Walgreens Boots Alliance will post 3.25 earnings per share for the current year.

Insider Buying and Selling at Walgreens Boots Alliance

In related news, CEO Timothy C. Wentworth acquired 10,000 shares of the company’s stock in a transaction on Friday, January 5th. The shares were acquired at an average cost of $24.22 per share, for a total transaction of $242,200.00. Following the purchase, the chief executive officer now owns 585,122 shares in the company, valued at $14,171,654.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Manmohan Mahajan acquired 6,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were acquired at an average cost of $19.38 per share, for a total transaction of $116,280.00. Following the purchase, the chief financial officer now owns 166,969 shares in the company, valued at $3,235,859.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy C. Wentworth acquired 10,000 shares of the company’s stock in a transaction on Friday, January 5th. The shares were bought at an average price of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the purchase, the chief executive officer now owns 585,122 shares in the company, valued at approximately $14,171,654.84. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 20,456 shares of company stock worth $458,473. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of hedge funds have recently made changes to their positions in the business. HighPoint Advisor Group LLC bought a new stake in shares of Walgreens Boots Alliance during the 4th quarter worth $2,094,000. Quadrature Capital Ltd bought a new stake in shares of Walgreens Boots Alliance during the 4th quarter worth $837,000. Hennessy Advisors Inc. raised its stake in shares of Walgreens Boots Alliance by 30.8% during the 4th quarter. Hennessy Advisors Inc. now owns 162,500 shares of the pharmacy operator’s stock worth $4,243,000 after purchasing an additional 38,250 shares during the period. PVG Asset Management Corp bought a new stake in shares of Walgreens Boots Alliance during the 4th quarter worth $372,000. Finally, Wahed Invest LLC raised its stake in shares of Walgreens Boots Alliance by 9.4% during the 4th quarter. Wahed Invest LLC now owns 12,229 shares of the pharmacy operator’s stock worth $319,000 after purchasing an additional 1,049 shares during the period. 58.59% of the stock is currently owned by institutional investors.

Walgreens Boots Alliance Company Profile

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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.

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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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