Walgreens Boots Alliance (NASDAQ:WBA) Trading Down 4.6% – Here’s What Happened

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)’s share price dropped 4.6% during trading on Thursday . The stock traded as low as $10.55 and last traded at $10.56. Approximately 8,547,298 shares traded hands during trading, a decline of 50% from the average daily volume of 17,013,254 shares. The stock had previously closed at $11.07.

Analyst Ratings Changes

WBA has been the subject of a number of research analyst reports. Evercore ISI boosted their target price on Walgreens Boots Alliance from $7.50 to $10.00 and gave the company an “in-line” rating in a research note on Wednesday. UBS Group boosted their price objective on Walgreens Boots Alliance from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley dropped 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 report on Friday, October 11th. Bank of America reduced their target price on shares of Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. Finally, Truist Financial lowered their target price on Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating for the company in a report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.38.

Walgreens Boots Alliance Trading Down 5.4 %

The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $9.41 and a 200-day moving average price of $13.22. The company has a market cap of $9.04 billion, a P/E ratio of -1.54, a PEG ratio of 1.06 and a beta of 0.70.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $37.50 billion during the quarter, compared to analysts’ expectations of $35.75 billion. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. Analysts forecast that Walgreens Boots Alliance, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Iron Horse Wealth Management LLC grew its stake in Walgreens Boots Alliance by 162.5% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock valued at $25,000 after buying an additional 1,300 shares during the last quarter. Blue Trust Inc. grew its position in shares of Walgreens Boots Alliance by 87.0% in the second quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 1,081 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Walgreens Boots Alliance by 71.2% during the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 1,020 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Walgreens Boots Alliance during the 2nd quarter worth approximately $34,000. Finally, New Covenant Trust Company N.A. bought a new stake in Walgreens Boots Alliance in the 1st quarter valued at $35,000. 58.59% of the stock is owned by institutional investors and hedge funds.

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.