Walgreens Boots Alliance (WBA) Price Target Raised to $77.00 at Morgan Stanley

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective raised by equities researchers at Morgan Stanley from $55.00 to $77.00 in a research note issued to investors on Monday. The brokerage presently has an “equal weight” rating on the pharmacy operator’s stock. Morgan Stanley’s target price points to a potential downside of 7.03% from the company’s current price.

Other research analysts have also recently issued reports about the company. TheStreet upgraded Walgreens Boots Alliance from a “c+” rating to a “b” rating in a report on Wednesday, September 12th. ValuEngine upgraded Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. BidaskClub upgraded Walgreens Boots Alliance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 21st. Citigroup boosted their target price on Walgreens Boots Alliance from $69.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, October 12th. Finally, Pivotal Research boosted their target price on Walgreens Boots Alliance from $60.00 to $72.00 and gave the stock a “hold” rating in a report on Monday, October 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $78.89.

Shares of Walgreens Boots Alliance stock opened at $82.82 on Monday. The company has a market cap of $80.37 billion, a PE ratio of 13.76, a P/E/G ratio of 1.32 and a beta of 0.76. Walgreens Boots Alliance has a 1-year low of $59.07 and a 1-year high of $86.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.82.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Thursday, October 11th. The pharmacy operator reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The business had revenue of $33.44 billion for the quarter, compared to analysts’ expectations of $33.64 billion. Walgreens Boots Alliance had a return on equity of 21.75% and a net margin of 3.82%. As a group, analysts expect that Walgreens Boots Alliance will post 6.54 earnings per share for the current fiscal year.

In related news, SVP Kimberly R. Scardino sold 11,970 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $79.79, for a total value of $955,086.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $79.48, for a total value of $217,457.28. Following the completion of the transaction, the director now owns 8,207 shares in the company, valued at $652,292.36. The disclosure for this sale can be found here. Insiders sold 73,756 shares of company stock worth $5,824,194 over the last quarter. 14.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. raised its position in Walgreens Boots Alliance by 404.5% in the third quarter. HM Payson & Co. now owns 181,377 shares of the pharmacy operator’s stock valued at $13,222,000 after purchasing an additional 145,422 shares during the period. Carnegie Capital Asset Management LLC raised its position in Walgreens Boots Alliance by 73.7% in the third quarter. Carnegie Capital Asset Management LLC now owns 39,970 shares of the pharmacy operator’s stock valued at $3,301,000 after purchasing an additional 16,956 shares during the period. Belpointe Asset Management LLC purchased a new stake in Walgreens Boots Alliance in the third quarter valued at approximately $291,000. Vanguard Group Inc. raised its position in Walgreens Boots Alliance by 0.6% in the third quarter. Vanguard Group Inc. now owns 70,634,071 shares of the pharmacy operator’s stock valued at $5,149,224,000 after purchasing an additional 448,045 shares during the period. Finally, WealthPLAN Partners LLC purchased a new stake in Walgreens Boots Alliance in the third quarter valued at approximately $242,000. Hedge funds and other institutional investors own 62.59% of the company’s stock.

Walgreens Boots Alliance Company Profile

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.

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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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