Walgreens Boots Alliance (NASDAQ:WBA) Stock Price Up 0.3% – Here’s What Happened

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)’s share price was up 0.3% during mid-day trading on Friday . The stock traded as high as $9.12 and last traded at $9.06. Approximately 4,690,716 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 16,365,404 shares. The stock had previously closed at $9.03.

Wall Street Analysts Forecast Growth

WBA has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Truist Financial decreased their price objective on Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating on the stock in a report on Monday, October 7th. Evercore ISI lowered their price objective on 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. UBS Group cut their target price on Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, Morgan Stanley lowered their price target on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Friday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.46.

Walgreens Boots Alliance Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65. The company’s 50 day moving average price is $9.45 and its 200 day moving average price is $13.45. The company has a market cap of $7.95 billion, a price-to-earnings ratio of -1.37, a P/E/G ratio of 1.04 and a beta of 0.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WBA. Syon Capital LLC acquired a new position in Walgreens Boots Alliance during the 4th quarter worth about $333,000. EP Wealth Advisors LLC acquired a new position in Walgreens Boots Alliance during the 4th quarter worth about $297,000. Pineridge Advisors LLC acquired a new position in Walgreens Boots Alliance during the 4th quarter worth about $26,000. Transcendent Capital Group LLC acquired a new position in Walgreens Boots Alliance during the 4th quarter worth about $81,000. Finally, Wellington Management Group LLP lifted its position in Walgreens Boots Alliance by 412.3% during the 4th quarter. Wellington Management Group LLP now owns 58,261 shares of the pharmacy operator’s stock worth $1,521,000 after buying an additional 46,889 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

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.