Walgreens Boots Alliance (NASDAQ:WBA) Shares Down 5.7% on Analyst Downgrade

Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBAGet Free Report) were down 5.7% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $21.00 to $20.00. Morgan Stanley currently has an underweight rating on the stock. Walgreens Boots Alliance traded as low as $20.42 and last traded at $20.46. Approximately 8,281,757 shares changed hands during trading, a decline of 40% from the average daily volume of 13,841,395 shares. The stock had previously closed at $21.69.

Several other brokerages have also recently issued reports on WBA. Raymond James reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a report on Tuesday, March 26th. TheStreet raised Walgreens Boots Alliance from a “d+” rating to a “c-” rating in a report on Monday, January 8th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a report on Monday, February 26th. 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 report on Monday, March 18th. Finally, Truist Financial reissued a “hold” rating and issued a $25.00 price target on shares of Walgreens Boots Alliance in a report on Monday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.92.

View Our Latest Research Report on WBA

Insider Activity

In other Walgreens Boots Alliance news, Director Valerie B. Jarrett acquired 4,456 shares of the stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $22.44 per share, with a total value of $99,992.64. Following the completion of the transaction, the director now directly owns 4,456 shares in the company, valued at $99,992.64. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Manmohan Mahajan purchased 6,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was purchased at an average price of $19.38 per share, with a total value of $116,280.00. Following the completion of the transaction, the chief financial officer now owns 166,969 shares in the company, valued at $3,235,859.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Valerie B. Jarrett purchased 4,456 shares of the stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $22.44 per share, with a total value of $99,992.64. Following the transaction, the director now owns 4,456 shares of the company’s stock, valued at approximately $99,992.64. The disclosure for this purchase can be found here. Insiders acquired a total of 20,456 shares of company stock valued at $458,473 over the last quarter. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Walgreens Boots Alliance

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Walgreens Boots Alliance by 14.5% during the third quarter. Vanguard Group Inc. now owns 86,675,198 shares of the pharmacy operator’s stock worth $1,927,656,000 after purchasing an additional 10,962,030 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Walgreens Boots Alliance by 4.6% during the first quarter. BlackRock Inc. now owns 63,406,129 shares of the pharmacy operator’s stock worth $2,192,584,000 after purchasing an additional 2,797,885 shares in the last quarter. Capital World Investors lifted its stake in shares of Walgreens Boots Alliance by 29.1% during the fourth quarter. Capital World Investors now owns 18,448,648 shares of the pharmacy operator’s stock worth $481,694,000 after purchasing an additional 4,163,317 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Walgreens Boots Alliance by 21.5% during the third quarter. Invesco Ltd. now owns 17,026,420 shares of the pharmacy operator’s stock worth $378,668,000 after purchasing an additional 3,013,807 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Walgreens Boots Alliance by 15.8% during the third quarter. Morgan Stanley now owns 12,584,371 shares of the pharmacy operator’s stock worth $279,876,000 after purchasing an additional 1,720,228 shares in the last quarter. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Walgreens Boots Alliance Stock Performance

The stock has a 50 day simple moving average of $21.65 and a 200 day simple moving average of $22.26. The company has a market cap of $16.14 billion, a price-to-earnings ratio of -2.67, a PEG ratio of 1.34 and a beta of 0.73. The company has a quick ratio of 0.32, a current ratio of 0.66 and a debt-to-equity ratio of 0.50.

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) last released its quarterly earnings results on Thursday, March 28th. The pharmacy operator reported $1.20 EPS 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 business had revenue of $37.05 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that Walgreens Boots Alliance, Inc. will post 3.25 EPS for the current year.

About Walgreens Boots Alliance

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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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