Walgreens Boots Alliance, Inc. (NASDAQ:WBA)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Saturday. They currently have a $94.00 price objective on the pharmacy operator’s stock. Needham & Company LLC’s price target would indicate a potential upside of 13.94% from the company’s previous close.

A number of other brokerages have also recently issued reports on WBA. Morgan Stanley reiterated an “overweight” rating and issued a $95.00 price target on shares of Walgreens Boots Alliance in a research note on Monday, July 3rd. BidaskClub raised Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Citigroup Inc. reaffirmed a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Loop Capital started coverage on shares of Walgreens Boots Alliance in a research report on Thursday, August 24th. They set a “buy” rating and a $95.00 price target for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $91.81.

Walgreens Boots Alliance (NASDAQ:WBA) opened at 82.50 on Friday. Walgreens Boots Alliance has a 52 week low of $75.18 and a 52 week high of $89.69. The company’s 50-day moving average is $81.26 and its 200 day moving average is $81.99. The company has a market capitalization of $88.28 billion, a price-to-earnings ratio of 20.83 and a beta of 1.26.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings data on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share (EPS) 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 business had revenue of $30.12 billion for the quarter, compared to the consensus estimate of $29.72 billion. During the same period in the previous year, the firm earned $1.18 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that Walgreens Boots Alliance will post $5.00 EPS for the current fiscal year.

Walgreens Boots Alliance announced that its Board of Directors has initiated a share repurchase program on Thursday, June 29th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the pharmacy operator to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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In related news, Director William C. Foote sold 2,736 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $79.79, for a total value of $218,305.44. Following the completion of the sale, the director now directly owns 19,151 shares in the company, valued at $1,528,058.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 13.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in Walgreens Boots Alliance by 72.9% in the first quarter. Russell Investments Group Ltd. now owns 482,962 shares of the pharmacy operator’s stock worth $40,115,000 after buying an additional 203,635 shares during the last quarter. Wellington Management Group LLP lifted its position in 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 worth $2,727,932,000 after buying an additional 1,824,300 shares during the last quarter. Montecito Bank & Trust lifted its position in Walgreens Boots Alliance by 3.6% in the second quarter. Montecito Bank & Trust now owns 6,661 shares of the pharmacy operator’s stock worth $522,000 after buying an additional 230 shares during the last quarter. IBM Retirement Fund lifted its position in Walgreens Boots Alliance by 88.1% in the second quarter. IBM Retirement Fund now owns 22,903 shares of the pharmacy operator’s stock worth $2,004,000 after buying an additional 10,729 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its position in Walgreens Boots Alliance by 9.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 75,821 shares of the pharmacy operator’s stock worth $6,296,000 after buying an additional 6,462 shares during the last quarter. 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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