Investment analysts at Evercore ISI initiated coverage on shares of Walgreens Boots Alliance (NASDAQ:WBA) in a report issued on Thursday, The Fly reports. The firm set an “outperform” rating on the pharmacy operator’s stock.
Several other research firms have also weighed in on WBA. Royal Bank of Canada assumed coverage on Walgreens Boots Alliance in a research report on Tuesday, September 19th. They set an “outperform” rating and a $96.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $94.00 price target on shares of Walgreens Boots Alliance in a research report on Saturday, September 16th. BidaskClub lowered Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Jefferies Group reissued a “buy” rating and set a $95.00 price target on shares of Walgreens Boots Alliance in a research report on Thursday, September 7th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $86.60.
Shares of Walgreens Boots Alliance (NASDAQ WBA) traded up $0.56 during trading on Thursday, hitting $75.51. The stock had a trading volume of 7,145,300 shares, compared to its average volume of 6,875,149. The firm has a market capitalization of $71,920.00, a price-to-earnings ratio of 19.98, a PEG ratio of 1.34 and a beta of 1.22. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. Walgreens Boots Alliance has a 12 month low of $63.82 and a 12 month high of $88.00.
Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Thursday, January 4th. The pharmacy operator reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The company had revenue of $30.74 billion for the quarter, compared to analyst estimates of $30.39 billion. Walgreens Boots Alliance had a return on equity of 18.36% and a net margin of 3.45%. Walgreens Boots Alliance’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 earnings per share. equities analysts anticipate that Walgreens Boots Alliance will post 5.54 earnings per share for the current fiscal year.
Walgreens Boots Alliance declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the pharmacy operator to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total transaction of $184,324.32. Following the completion of the sale, the director now owns 16,415 shares in the company, valued at approximately $1,105,878.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Anthony Lederer purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were bought at an average price of $67.00 per share, with a total value of $1,340,000.00. Following the purchase, the director now owns 50,000 shares in the company, valued at approximately $3,350,000. The disclosure for this purchase can be found here. Corporate insiders own 14.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atlantic Trust Group LLC raised its holdings in Walgreens Boots Alliance by 300.1% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,046,190 shares of the pharmacy operator’s stock valued at $80,787,000 after acquiring an additional 784,677 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in Walgreens Boots Alliance by 6.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,821,794 shares of the pharmacy operator’s stock valued at $140,679,000 after acquiring an additional 110,811 shares in the last quarter. AXA raised its holdings in Walgreens Boots Alliance by 12.4% in the 3rd quarter. AXA now owns 320,262 shares of the pharmacy operator’s stock valued at $24,731,000 after acquiring an additional 35,267 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in Walgreens Boots Alliance by 0.6% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 5,475,196 shares of the pharmacy operator’s stock valued at $422,795,000 after acquiring an additional 33,889 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Walgreens Boots Alliance in the 3rd quarter valued at approximately $492,000. Institutional investors own 61.18% of the company’s stock.
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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).