Morgan Stanley Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $7.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective reduced by Morgan Stanley from $9.00 to $7.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “underweight” rating on the pharmacy operator’s stock. Morgan Stanley’s price objective would indicate a potential downside of 22.48% from the company’s current price.

A number of other equities analysts have also recently commented on WBA. UBS Group reduced their target price on Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Evercore ISI lowered their target price on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. TD Cowen reduced their target price on shares of Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Bank of America lowered their price target on shares of Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Barclays reduced their target price on shares of Walgreens Boots Alliance from $11.00 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.46.

Walgreens Boots Alliance Stock Performance

WBA opened at $9.03 on Friday. The company has a market cap of $7.80 billion, a price-to-earnings ratio of -1.34, a PEG ratio of 1.03 and a beta of 0.70. The firm’s fifty day simple moving average is $9.49 and its two-hundred day simple moving average is $13.58. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. Walgreens Boots Alliance has a 52-week low of $8.22 and a 52-week high of $27.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Atlas Brown Inc. lifted its position in shares of Walgreens Boots Alliance by 1.8% during the 1st quarter. Atlas Brown Inc. now owns 31,593 shares of the pharmacy operator’s stock worth $685,000 after buying an additional 550 shares during the last quarter. Shilanski & Associates Inc. lifted its position in Walgreens Boots Alliance by 5.3% in the first quarter. Shilanski & Associates Inc. now owns 11,821 shares of the pharmacy operator’s stock valued at $256,000 after acquiring an additional 591 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in Walgreens Boots Alliance by 1.9% in the first quarter. First Trust Direct Indexing L.P. now owns 32,085 shares of the pharmacy operator’s stock valued at $696,000 after acquiring an additional 597 shares in the last quarter. Buckley Wealth Management LLC grew its holdings in shares of Walgreens Boots Alliance by 2.1% during the first quarter. Buckley Wealth Management LLC now owns 37,335 shares of the pharmacy operator’s stock worth $810,000 after purchasing an additional 785 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in shares of Walgreens Boots Alliance by 60.4% during the first quarter. FinTrust Capital Advisors LLC now owns 2,130 shares of the pharmacy operator’s stock worth $46,000 after purchasing an additional 802 shares in the last quarter. 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.