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

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

Wall Street Analyst Weigh In

A number of research firms recently commented on WBA. JPMorgan Chase & Co. reduced their price target on Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Evercore ISI lifted their target price on Walgreens Boots Alliance from $7.50 to $10.00 and gave the stock an “in-line” rating in a report on Wednesday. Truist Financial cut their target price on Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Monday, October 7th. Royal Bank of Canada cut 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 research report on Tuesday, July 2nd. Finally, Barclays reduced their price objective 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Walgreens Boots Alliance currently has a consensus rating of “Hold” and an average price target of $13.46.

Walgreens Boots Alliance Price Performance

The stock has a market cap of $9.45 billion, a PE ratio of -1.58, a P/E/G ratio of 1.06 and a beta of 0.70. The business has a fifty day simple moving average of $9.40 and a two-hundred day simple moving average of $13.23. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Tuesday, October 15th. The pharmacy operator reported $0.39 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 business had revenue of $37.50 billion for the quarter, compared to analyst estimates of $35.75 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Walgreens Boots Alliance’s quarterly revenue was up 5.9% on a year-over-year basis. Research analysts forecast that Walgreens Boots Alliance, Inc. will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Walgreens Boots Alliance

A number of institutional investors and hedge funds have recently made changes to their positions in WBA. New Covenant Trust Company N.A. bought a new stake in Walgreens Boots Alliance during the first quarter valued at about $35,000. Iron Horse Wealth Management LLC raised its stake in Walgreens Boots Alliance by 162.5% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock worth $25,000 after acquiring an additional 1,300 shares during the period. FinTrust Capital Advisors LLC lifted its holdings in 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 valued at $46,000 after purchasing an additional 802 shares in the last quarter. Blue Trust Inc. boosted 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 worth $28,000 after purchasing an additional 1,081 shares during the period. Finally, Continuum Advisory LLC lifted its stake in shares of Walgreens Boots Alliance by 71.2% during the 2nd quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 58.59% of the company’s stock.

About Walgreens Boots Alliance

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.