BidaskClub Downgrades Walgreens Boots Alliance (NASDAQ:WBA) to Strong Sell

BidaskClub cut shares of Walgreens Boots Alliance (NASDAQ:WBA) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday, BidAskClub reports.

Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Walgreens Boots Alliance from a hold rating to a strong sell rating and set a $42.00 price target for the company. in a research report on Friday, July 17th. Raymond James reissued a hold rating on shares of Walgreens Boots Alliance in a research report on Monday, September 7th. Bank of America reissued a sell rating and issued a $37.00 price target on shares of Walgreens Boots Alliance in a research report on Wednesday, October 7th. Barclays lowered their price target on Walgreens Boots Alliance from $45.00 to $40.00 and set an equal weight rating for the company in a research report on Thursday, October 8th. Finally, Morgan Stanley lowered their price target on Walgreens Boots Alliance from $45.00 to $40.00 and set an equal weight rating for the company in a research report on Thursday, September 3rd. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $43.19.

Shares of WBA opened at $37.41 on Wednesday. Walgreens Boots Alliance has a 12-month low of $33.88 and a 12-month high of $64.50. The business’s fifty day moving average is $36.42 and its 200 day moving average is $40.52. The company has a quick ratio of 0.33, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. The stock has a market cap of $32.42 billion, a P/E ratio of 45.62, a P/E/G ratio of 1.35 and a beta of 0.43.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Thursday, October 15th. The pharmacy operator reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. The company had revenue of $34.75 billion for the quarter, compared to analysts’ expectations of $34.36 billion. Walgreens Boots Alliance had a return on equity of 19.43% and a net margin of 0.55%. Walgreens Boots Alliance’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $1.43 EPS. On average, analysts expect that Walgreens Boots Alliance will post 4.68 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. increased its holdings in Walgreens Boots Alliance by 24.1% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 143,769 shares of the pharmacy operator’s stock worth $6,095,000 after acquiring an additional 27,922 shares during the last quarter. Citizens Financial Group Inc RI boosted its stake in Walgreens Boots Alliance by 42.7% in the 2nd quarter. Citizens Financial Group Inc RI now owns 3,226 shares of the pharmacy operator’s stock worth $137,000 after purchasing an additional 966 shares during the period. Principal Financial Group Inc. boosted its stake in Walgreens Boots Alliance by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 1,159,751 shares of the pharmacy operator’s stock worth $49,162,000 after purchasing an additional 15,732 shares during the period. FDx Advisors Inc. boosted its stake in Walgreens Boots Alliance by 44.7% in the 1st quarter. FDx Advisors Inc. now owns 15,959 shares of the pharmacy operator’s stock worth $730,000 after purchasing an additional 4,928 shares during the period. Finally, Trust Co. of Toledo NA OH boosted its stake in Walgreens Boots Alliance by 5.0% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 6,198 shares of the pharmacy operator’s stock worth $223,000 after purchasing an additional 295 shares during the period. 55.96% of the stock is owned by institutional investors.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.

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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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