Walgreens Boots Alliance (NASDAQ:WBA) Trading Down 0.7% – What’s Next?

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) shares dropped 0.7% on Wednesday . The stock traded as low as $10.25 and last traded at $10.35. Approximately 8,636,598 shares were traded during trading, a decline of 49% from the average daily volume of 16,849,744 shares. The stock had previously closed at $10.42.

Wall Street Analyst Weigh In

WBA has been the subject of a number of recent research reports. Truist Financial decreased 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. Barclays lifted their price objective on Walgreens Boots Alliance from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday. TD Cowen cut their target price on shares of Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. UBS Group lifted their price target on shares of Walgreens Boots Alliance from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Evercore ISI boosted their price target on shares of Walgreens Boots Alliance from $7.50 to $10.00 and gave the stock an “in-line” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.38.

Walgreens Boots Alliance Trading Up 1.2 %

The company has a fifty day moving average of $9.41 and a two-hundred day moving average of $13.20. 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 market capitalization of $9.31 billion, a price-to-earnings ratio of -1.56, a P/E/G ratio of 1.06 and a beta of 0.70.

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

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of hedge funds and other institutional investors have recently modified their holdings of WBA. V Square Quantitative Management LLC increased its position in shares of Walgreens Boots Alliance by 95.1% in the third quarter. V Square Quantitative Management LLC now owns 47,327 shares of the pharmacy operator’s stock valued at $424,000 after buying an additional 23,071 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Walgreens Boots Alliance by 2.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 67,016 shares of the pharmacy operator’s stock valued at $600,000 after acquiring an additional 1,326 shares in the last quarter. B.O.S.S. Retirement Advisors LLC increased its holdings in Walgreens Boots Alliance by 25.2% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 66,542 shares of the pharmacy operator’s stock valued at $596,000 after acquiring an additional 13,383 shares in the last quarter. Twelve Points Wealth Management LLC raised its position in Walgreens Boots Alliance by 159.8% during the third quarter. Twelve Points Wealth Management LLC now owns 35,254 shares of the pharmacy operator’s stock worth $316,000 after acquiring an additional 21,684 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Walgreens Boots Alliance by 30.2% in the third quarter. Vontobel Holding Ltd. now owns 139,236 shares of the pharmacy operator’s stock valued at $1,248,000 after purchasing an additional 32,286 shares during the last quarter. 58.59% of the stock is currently 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.