TD Cowen Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $22.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target lowered by TD Cowen from $35.00 to $22.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the pharmacy operator’s stock. TD Cowen’s price objective would indicate a potential upside of 91.30% from the company’s current price.

A number of other research firms also recently commented on WBA. SVB Leerink reduced their target price 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. Raymond James reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a research note on Tuesday, March 26th. Morgan Stanley cut their price target on Walgreens Boots Alliance from $13.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday. Barclays cut their price target on Walgreens Boots Alliance from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Finally, Truist Financial dropped their price objective on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a research report on Friday. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.71.

Walgreens Boots Alliance Stock Performance

Shares of NASDAQ WBA traded down $0.60 during mid-day trading on Monday, hitting $11.50. 17,639,061 shares of the company were exchanged, compared to its average volume of 14,424,566. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $16.49 and a 200-day simple moving average of $20.14. Walgreens Boots Alliance has a 1-year low of $11.48 and a 1-year high of $31.32. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of -1.71, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.05). Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The company had revenue of $36.40 billion for the quarter, compared to analyst estimates of $35.94 billion. During the same period in the prior year, the business earned $1.00 earnings per share. Walgreens Boots Alliance’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Walgreens Boots Alliance will post 2.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Inderpal S. Bhandari purchased 3,000 shares of Walgreens Boots Alliance stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average cost of $18.05 per share, with a total value of $54,150.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $54,150. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Walgreens Boots Alliance news, CFO Manmohan Mahajan bought 6,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were bought at an average cost of $19.38 per share, with a total value of $116,280.00. Following the transaction, the chief financial officer now directly owns 166,969 shares in the company, valued at approximately $3,235,859.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Inderpal S. Bhandari purchased 3,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was purchased at an average price of $18.05 per share, with a total value of $54,150.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $54,150. The disclosure for this purchase can be found here. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of institutional investors have recently made changes to their positions in WBA. Quadrant Capital Group LLC grew its stake in shares of Walgreens Boots Alliance by 33.8% in the fourth quarter. Quadrant Capital Group LLC now owns 7,494 shares of the pharmacy operator’s stock worth $196,000 after purchasing an additional 1,893 shares in the last quarter. Syon Capital LLC bought a new position in shares of Walgreens Boots Alliance in the fourth quarter worth $333,000. New York Life Investment Management LLC grew its stake in shares of Walgreens Boots Alliance by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 115,196 shares of the pharmacy operator’s stock worth $3,008,000 after purchasing an additional 690 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter valued at $297,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of Walgreens Boots Alliance by 38.9% in the fourth quarter. Corient Private Wealth LLC now owns 280,545 shares of the pharmacy operator’s stock valued at $7,325,000 after buying an additional 78,523 shares during the period. 58.59% of the stock is currently owned by institutional investors.

Walgreens Boots Alliance Company Profile

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.