Walgreens Boots Alliance (NASDAQ:WBA) has been assigned a $90.00 target price by investment analysts at Loop Capital in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. Loop Capital’s target price suggests a potential upside of 31.79% from the stock’s previous close.
Several other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Walgreens Boots Alliance from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho set a $87.00 target price on shares of Walgreens Boots Alliance and gave the company a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research downgraded shares of Walgreens Boots Alliance from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. BidaskClub upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $88.00 target price (up from $86.00) on shares of Walgreens Boots Alliance in a research note on Wednesday, January 10th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Walgreens Boots Alliance presently has an average rating of “Buy” and an average price target of $85.53.
Shares of Walgreens Boots Alliance (NASDAQ:WBA) traded down $0.17 during midday trading on Tuesday, hitting $68.29. The stock had a trading volume of 6,783,717 shares, compared to its average volume of 5,980,000. The company has a market cap of $67,650.00, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.47. Walgreens Boots Alliance has a 12 month low of $63.82 and a 12 month high of $88.00.
Walgreens Boots Alliance announced that its board has authorized a share repurchase plan on Wednesday, October 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the pharmacy operator to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other Walgreens Boots Alliance news, insider Stefano Pessina purchased 98,858 shares of the company’s stock in a transaction dated Monday, January 15th. The stock was bought at an average cost of $76.07 per share, for a total transaction of $7,520,128.06. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 14.80% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Hudock Capital Group LLC increased its stake in Walgreens Boots Alliance by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock valued at $102,000 after acquiring an additional 6 shares during the last quarter. Westside Investment Management Inc. increased its stake in Walgreens Boots Alliance by 10.4% in the second quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock valued at $102,000 after acquiring an additional 125 shares during the last quarter. Zions Bancorporation increased its stake in Walgreens Boots Alliance by 983.3% in the third quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,239 shares during the last quarter. IHT Wealth Management LLC increased its stake in Walgreens Boots Alliance by 46.3% in the second quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock valued at $135,000 after acquiring an additional 2,199 shares during the last quarter. Finally, Bristlecone Advisors LLC bought a new position in Walgreens Boots Alliance in the third quarter valued at approximately $135,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.
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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).
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