Walgreens Boots Alliance (NASDAQ:WBA)‘s stock had its “hold” rating restated by equities research analysts at Cleveland Research in a report issued on Monday, TipRanks reports.

Other research analysts also recently issued research reports about the stock. Morgan Stanley reduced their price target on shares of Walgreens Boots Alliance from $61.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. BidaskClub raised shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. lowered their price objective on shares of Walgreens Boots Alliance from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Finally, Bank of America dropped their target price on shares of Walgreens Boots Alliance from $53.00 to $51.00 and set an “underperform” rating for the company in a research note on Monday, June 3rd. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Walgreens Boots Alliance has a consensus rating of “Hold” and an average price target of $63.65.

WBA traded up $1.18 during trading on Monday, hitting $58.06. The company’s stock had a trading volume of 5,844,276 shares, compared to its average volume of 5,866,319. The firm’s 50 day moving average price is $52.32 and its two-hundred day moving average price is $55.15. The company has a quick ratio of 0.37, a current ratio of 0.76 and a debt-to-equity ratio of 0.49. Walgreens Boots Alliance has a 12 month low of $49.03 and a 12 month high of $86.31. The stock has a market capitalization of $50.21 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 1.39 and a beta of 0.88.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Thursday, June 27th. The pharmacy operator reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. Walgreens Boots Alliance had a return on equity of 22.08% and a net margin of 3.53%. The company had revenue of $34.59 billion for the quarter, compared to analysts’ expectations of $34.52 billion. During the same quarter in the prior year, the business earned $1.53 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts forecast that Walgreens Boots Alliance will post 5.98 earnings per share for the current year.

In related news, CAO Marco Patrick Anthony Pagni sold 215,323 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $50.48, for a total transaction of $10,869,505.04. Following the completion of the sale, the chief accounting officer now directly owns 357,851 shares of the company’s stock, valued at $18,064,318.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.73% of the company’s stock.

Several hedge funds have recently bought and sold shares of WBA. The Manufacturers Life Insurance Company boosted its position in shares of Walgreens Boots Alliance by 263.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,306,439 shares of the pharmacy operator’s stock worth $209,198,000 after purchasing an additional 2,396,640 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Walgreens Boots Alliance by 216.5% in the second quarter. Nuveen Asset Management LLC now owns 2,281,316 shares of the pharmacy operator’s stock valued at $124,720,000 after buying an additional 1,560,622 shares during the period. Morgan Stanley lifted its stake in Walgreens Boots Alliance by 36.2% in the second quarter. Morgan Stanley now owns 4,913,030 shares of the pharmacy operator’s stock valued at $268,595,000 after buying an additional 1,304,949 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in Walgreens Boots Alliance by 11.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,837,465 shares of the pharmacy operator’s stock valued at $647,154,000 after buying an additional 1,169,600 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Walgreens Boots Alliance by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 11,529,136 shares of the pharmacy operator’s stock worth $786,522,000 after buying an additional 834,241 shares during the last quarter. 59.80% of the stock is currently owned by institutional investors.

About Walgreens Boots Alliance

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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