Walgreens Boots Alliance’s (WBA) Buy Rating Reiterated at Needham & Company LLC
Walgreens Boots Alliance, Inc. (NASDAQ:WBA)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Saturday. They currently have a $94.00 price target 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.
Other analysts have also recently issued reports about the company. BidaskClub cut Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Leerink Swann set a $86.00 price target on Walgreens Boots Alliance and gave the stock a “buy” rating in a research report on Friday, July 7th. Credit Suisse Group reiterated a “buy” rating and set a $97.00 price target on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. Pivotal Research set a $85.00 price target on Walgreens Boots Alliance and gave the stock a “hold” rating in a research report on Sunday, July 2nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $77.00 price target (down from $89.00) on shares of Walgreens Boots Alliance in a research report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $91.81.
Shares of Walgreens Boots Alliance (NASDAQ:WBA) opened at 82.50 on Friday. The stock has a market capitalization of $88.28 billion, a price-to-earnings ratio of 20.83 and a beta of 1.26. The firm’s 50-day moving average is $81.26 and its 200-day moving average is $81.99. 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 announced its quarterly earnings results 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 return on equity of 17.34% and a net margin of 3.69%. The company had revenue of $30.12 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same period in the previous year, the company posted $1.18 earnings per share. Walgreens Boots Alliance’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Walgreens Boots Alliance will post $5.00 EPS for the current year.
Walgreens Boots Alliance declared that its board has approved a share repurchase plan on Thursday, June 29th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the pharmacy operator to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
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In other news, Director William C. Foote sold 2,736 shares of the 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 transaction, the director now owns 19,151 shares in the company, valued at approximately $1,528,058.29. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in WBA. Hudock Capital Group LLC grew its stake in Walgreens Boots Alliance by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock worth $102,000 after buying an additional 6 shares during the last quarter. Westside Investment Management Inc. grew its stake in Walgreens Boots Alliance by 10.4% during the 2nd quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock worth $102,000 after buying an additional 125 shares during the last quarter. Reilly Financial Advisors LLC grew its stake in Walgreens Boots Alliance by 7.9% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,367 shares of the pharmacy operator’s stock worth $107,000 after buying an additional 100 shares during the last quarter. Tarbox Group Inc. grew its stake in Walgreens Boots Alliance by 288.3% during the 1st quarter. Tarbox Group Inc. now owns 1,355 shares of the pharmacy operator’s stock worth $113,000 after buying an additional 1,006 shares during the last quarter. Finally, Webster Bank N. A. grew its stake in Walgreens Boots Alliance by 18.4% during the 1st quarter. Webster Bank N. A. now owns 1,509 shares of the pharmacy operator’s stock worth $125,000 after buying an additional 235 shares during the last quarter. Hedge funds and other 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).
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