Walgreens Boots Alliance’s (WBA) “Buy” Rating Reiterated at Jefferies Group LLC
Walgreens Boots Alliance, Inc. (NASDAQ:WBA)‘s stock had its “buy” rating restated by Jefferies Group LLC in a report issued on Wednesday. They currently have a $95.00 price target on the pharmacy operator’s stock. Jefferies Group LLC’s target price points to a potential upside of 20.50% from the stock’s previous close.
WBA has been the topic of a number of other research reports. Needham & Company LLC assumed coverage on Walgreens Boots Alliance in a research note on Tuesday, June 27th. They issued a “hold” rating on the stock. BidaskClub lowered Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Leerink Swann set a $86.00 target price on Walgreens Boots Alliance and gave the stock a “buy” rating in a research note on Friday, July 7th. Credit Suisse Group restated a “buy” rating and set a $97.00 price target on shares of Walgreens Boots Alliance in a research note on Thursday, July 13th. Finally, Pivotal Research set a $85.00 price target on Walgreens Boots Alliance and gave the company a “hold” rating in a research note on Sunday, July 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Walgreens Boots Alliance presently has an average rating of “Buy” and an average price target of $92.06.
Shares of Walgreens Boots Alliance (NASDAQ:WBA) traded down 2.92% on Wednesday, reaching $78.84. 9,230,895 shares of the company’s stock were exchanged. The stock has a market cap of $84.37 billion, a price-to-earnings ratio of 19.91 and a beta of 1.26. The company’s 50 day moving average is $81.36 and its 200-day moving average is $81.86. Walgreens Boots Alliance has a one year low of $75.18 and a one year high of $89.69.
Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. Walgreens Boots Alliance had a return on equity of 17.34% and a net margin of 3.69%. The business had revenue of $30.12 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same quarter last year, the firm posted $1.18 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Walgreens Boots Alliance will post $5.00 EPS for the current year.
Walgreens Boots Alliance announced that its Board of Directors has authorized a stock repurchase program on Thursday, June 29th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the pharmacy operator to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
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In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of the firm’s stock in a transaction dated 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 owns 19,151 shares of the company’s stock, valued at $1,528,058.29. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 13.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of WBA. Franklin Resources Inc. boosted its holdings in 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 worth $1,448,939,000 after acquiring an additional 3,662,302 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in 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 worth $258,077,000 after acquiring an additional 2,718,800 shares in the last quarter. Vanguard Group Inc. boosted its holdings in 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 worth $5,480,577,000 after acquiring an additional 1,926,108 shares in the last quarter. Nordea Investment Management AB boosted its holdings in 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 worth $760,267,000 after acquiring an additional 1,917,082 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings 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 acquiring an additional 1,824,300 shares in the last quarter. 60.16% of the stock is owned by institutional investors and hedge funds.
Walgreens Boots Alliance Company Profile
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).
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