Walgreens Boots Alliance (NASDAQ:WBA) Trading Down 4.6% – Here’s What Happened

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)’s stock price traded down 4.6% during trading on Thursday . The stock traded as low as $10.55 and last traded at $10.56. 8,547,298 shares were traded during trading, a decline of 50% from the average session volume of 17,013,254 shares. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WBA shares. Truist Financial dropped their price objective on shares of Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating on the stock in a report on Monday, October 7th. Morgan Stanley reduced their target price on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, October 11th. Barclays upped their target price on shares of Walgreens Boots Alliance from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Royal Bank of Canada dropped their price objective on Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.38.

Walgreens Boots Alliance Trading Down 5.4 %

The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. The stock has a market cap of $9.04 billion, a P/E ratio of -1.54, a price-to-earnings-growth ratio of 1.06 and a beta of 0.70. The business’s fifty day simple moving average is $9.41 and its 200 day simple moving average is $13.22.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. The firm had revenue of $37.50 billion for the quarter, compared to the consensus estimate of $35.75 billion. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. As a group, analysts expect that Walgreens Boots Alliance, Inc. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Walgreens Boots Alliance

Institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Walgreens Boots Alliance by 2.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 67,016 shares of the pharmacy operator’s stock valued at $600,000 after purchasing an additional 1,326 shares during the last quarter. B.O.S.S. Retirement Advisors LLC grew its position in shares of Walgreens Boots Alliance by 25.2% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 66,542 shares of the pharmacy operator’s stock worth $596,000 after buying an additional 13,383 shares during the period. Twelve Points Wealth Management LLC increased its stake in shares of Walgreens Boots Alliance by 159.8% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 35,254 shares of the pharmacy operator’s stock valued at $316,000 after acquiring an additional 21,684 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Walgreens Boots Alliance by 30.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 139,236 shares of the pharmacy operator’s stock valued at $1,248,000 after acquiring an additional 32,286 shares during the period. Finally, Applied Capital LLC FL boosted its stake in Walgreens Boots Alliance by 10.4% during the 3rd quarter. Applied Capital LLC FL now owns 30,807 shares of the pharmacy operator’s stock worth $276,000 after acquiring an additional 2,892 shares during the last quarter. 58.59% of the stock is owned by institutional investors.

Walgreens Boots Alliance Company Profile

Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally. It operates through three segments: U.S. Retail Pharmacy, International, and U.S. Healthcare. The U.S. Retail Pharmacy segment engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.