TD Cowen Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $14.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective reduced by equities research analysts at TD Cowen from $16.00 to $14.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. TD Cowen’s price target indicates a potential upside of 33.97% from the company’s previous close.

WBA has been the topic of a number of other research reports. Bank of America dropped their price objective on shares of Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley decreased their target price on shares of Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, October 11th. Evercore ISI raised their target price on shares of Walgreens Boots Alliance from $7.50 to $10.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Truist Financial decreased their target price on shares of Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Walgreens Boots Alliance currently has a consensus rating of “Hold” and an average price target of $13.21.

Walgreens Boots Alliance Stock Performance

Shares of NASDAQ WBA opened at $10.45 on Tuesday. The firm’s 50-day moving average price is $9.41 and its 200-day moving average price is $13.00. The company has a quick ratio of 0.31, a current ratio of 0.68 and a debt-to-equity ratio of 0.67. The company has a market cap of $9.02 billion, a PE ratio of -1.55, a PEG ratio of 1.37 and a beta of 0.70. Walgreens Boots Alliance has a 52-week low of $8.22 and a 52-week high of $27.05.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $37.50 billion for the quarter, compared to the consensus estimate of $35.75 billion. Walgreens Boots Alliance had a negative net margin of 5.85% and a positive return on equity of 14.23%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 EPS. As a group, analysts anticipate that Walgreens Boots Alliance will post 1.57 EPS for the current year.

Institutional Investors Weigh In On Walgreens Boots Alliance

Several large investors have recently bought and sold shares of the business. Eastern Bank bought a new stake in Walgreens Boots Alliance in the third quarter worth $33,000. Sequoia Financial Advisors LLC increased its position in Walgreens Boots Alliance by 4.4% in the third quarter. Sequoia Financial Advisors LLC now owns 25,215 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 1,063 shares during the last quarter. Kessler Investment Group LLC increased its position in Walgreens Boots Alliance by 1.8% in the third quarter. Kessler Investment Group LLC now owns 82,891 shares of the pharmacy operator’s stock worth $743,000 after purchasing an additional 1,444 shares during the last quarter. Vest Financial LLC increased its position in Walgreens Boots Alliance by 27.6% in the third quarter. Vest Financial LLC now owns 133,338 shares of the pharmacy operator’s stock worth $1,195,000 after purchasing an additional 28,814 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in Walgreens Boots Alliance by 95.1% during the third quarter. V Square Quantitative Management LLC now owns 47,327 shares of the pharmacy operator’s stock worth $424,000 after buying an additional 23,071 shares during the period. Institutional investors own 58.59% of the company’s stock.

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.