Walgreens Boots Alliance (NASDAQ:WBA) Cut to “Equal Weight” at Wells Fargo & Co

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Walgreens Boots Alliance (NASDAQ:WBA) was downgraded by analysts at Wells Fargo & Co from an “overweight” rating to an “equal weight” rating in a research report issued on Wednesday, Benzinga reports.

A number of other research firms have also recently issued reports on WBA. Cleveland Research reiterated a “hold” rating on shares of Walgreens Boots Alliance in a research note on Monday, September 9th. BidaskClub upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Pivotal Research reduced their target price on shares of Walgreens Boots Alliance from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut shares of Walgreens Boots Alliance from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $73.00 to $63.00 in a research note on Wednesday, October 23rd. Finally, Morgan Stanley reduced their price objective on shares of Walgreens Boots Alliance from $61.00 to $58.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $61.12.

NASDAQ WBA traded down $0.62 during trading on Wednesday, reaching $57.79. The company’s stock had a trading volume of 735,699 shares, compared to its average volume of 5,825,308. The company has a current ratio of 0.73, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $52.33 billion, a PE ratio of 9.65, a PEG ratio of 1.46 and a beta of 0.88. The business has a 50-day moving average price of $58.91 and a 200-day moving average price of $54.63. Walgreens Boots Alliance has a 1-year low of $49.03 and a 1-year high of $83.33.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Monday, October 28th. The pharmacy operator reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.02. The firm had revenue of $33.95 billion during the quarter, compared to analysts’ expectations of $33.88 billion. Walgreens Boots Alliance had a net margin of 2.91% and a return on equity of 21.99%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.48 earnings per share. As a group, analysts expect that Walgreens Boots Alliance will post 5.93 earnings per share for the current year.

In related news, CAO Marco Patrick Anthony Pagni sold 234,355 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $63.16, for a total transaction of $14,801,861.80. Following the completion of the transaction, the chief accounting officer now directly owns 13,844 shares in the company, valued at approximately $874,387.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.73% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in WBA. Nuveen Asset Management LLC raised its stake in Walgreens Boots Alliance by 216.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,281,316 shares of the pharmacy operator’s stock valued at $124,720,000 after purchasing an additional 1,560,622 shares during the last quarter. Morgan Stanley raised its stake in Walgreens Boots Alliance by 36.2% during the 2nd quarter. Morgan Stanley now owns 4,913,030 shares of the pharmacy operator’s stock valued at $268,595,000 after purchasing an additional 1,304,949 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Walgreens Boots Alliance by 11.0% during the 2nd 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 purchasing an additional 1,169,600 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Walgreens Boots Alliance by 1,518.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 611,724 shares of the pharmacy operator’s stock valued at $33,834,000 after purchasing an additional 573,924 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Walgreens Boots Alliance by 23.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,893,195 shares of the pharmacy operator’s stock valued at $158,171,000 after purchasing an additional 549,575 shares during the last quarter. Hedge funds and other institutional investors own 60.09% 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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