Walgreens Boots Alliance, Inc. (NASDAQ:WBA)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Sunday.

A number of other equities research analysts also recently weighed in on the stock. Pivotal Research set a $85.00 price target on shares of Walgreens Boots Alliance and gave the company a “hold” rating in a report on Sunday, July 2nd. Zacks Investment Research downgraded shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $77.00 price target (down from $89.00) on shares of Walgreens Boots Alliance in a report on Wednesday, June 28th. Jefferies Group LLC cut their price target on shares of Walgreens Boots Alliance from $95.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $95.00 price target on shares of Walgreens Boots Alliance in a report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $91.81.

Shares of Walgreens Boots Alliance (NASDAQ WBA) opened at 81.39 on Friday. The firm has a market cap of $87.10 billion, a PE ratio of 20.55 and a beta of 1.26. Walgreens Boots Alliance has a 1-year low of $75.18 and a 1-year high of $89.69. The stock has a 50 day moving average of $80.80 and a 200 day moving average of $82.15.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.03. Walgreens Boots Alliance had a net margin of 3.69% and a return on equity of 17.34%. The company had revenue of $30.12 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same period in the prior year, the company earned $1.18 EPS. Walgreens Boots Alliance’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Walgreens Boots Alliance will post $5.00 earnings per share for the current fiscal year.

Walgreens Boots Alliance declared that its Board of Directors has approved a stock repurchase plan on Thursday, June 29th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $79.79, for a total transaction of $218,305.44. Following the transaction, the director now owns 19,151 shares in the company, valued at $1,528,058.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 13.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in shares of Walgreens Boots Alliance by 24.7% in the second quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock valued at $1,448,939,000 after acquiring an additional 3,662,302 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Walgreens Boots Alliance by 471.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,295,583 shares of the pharmacy operator’s stock valued at $258,077,000 after acquiring an additional 2,718,800 shares during the period. Vanguard Group Inc. boosted its position in shares of Walgreens Boots Alliance by 2.8% in the second quarter. Vanguard Group Inc. now owns 69,985,653 shares of the pharmacy operator’s stock valued at $5,480,577,000 after acquiring an additional 1,926,108 shares during the period. Nordea Investment Management AB boosted its position in shares of Walgreens Boots Alliance by 26.5% in the first quarter. Nordea Investment Management AB now owns 9,154,328 shares of the pharmacy operator’s stock valued at $760,267,000 after acquiring an additional 1,917,082 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Walgreens Boots Alliance by 5.9% in the first quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock valued at $2,727,932,000 after acquiring an additional 1,824,300 shares during the period. Institutional investors own 60.18% of the company’s stock.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc (Walgreens Boots Alliance) is a holding company. The Company is a global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance operates through three divisions, including Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. The Company’s products are marketed under a number of brands, which include No7, the Botanics range, Almus (generic medicines), Boots Pharmaceuticals and Soap & Glory (bathing and beauty brand).

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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