Walgreens Boots Alliance (NASDAQ:WBA) PT Lowered to $15.00 at JPMorgan Chase & Co.

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $20.00 to $15.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the pharmacy operator’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 63.22% from the company’s previous close.

Several other research firms have also recently weighed in on WBA. Royal Bank of Canada cut their price target on shares of Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. TD Cowen decreased their target price on Walgreens Boots Alliance from $35.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Barclays decreased their target price on Walgreens Boots Alliance from $11.00 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday, July 23rd. Truist Financial decreased their target price on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Finally, Evercore ISI decreased their target price on Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.46.

Walgreens Boots Alliance Price Performance

WBA traded down $0.06 on Friday, reaching $9.19. The company had a trading volume of 10,095,592 shares, compared to its average volume of 15,756,172. The company has a market cap of $7.93 billion, a price-to-earnings ratio of -1.36, a P/E/G ratio of 0.72 and a beta of 0.72. Walgreens Boots Alliance has a 52-week low of $9.03 and a 52-week high of $27.05. The business has a 50 day simple moving average of $11.56 and a 200 day simple moving average of $16.23. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05). Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The firm had revenue of $36.40 billion during the quarter, compared to the consensus estimate of $35.94 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Walgreens Boots Alliance will post 2.87 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Atlas Brown Inc. grew its stake in shares of Walgreens Boots Alliance by 1.8% during the 1st quarter. Atlas Brown Inc. now owns 31,593 shares of the pharmacy operator’s stock valued at $685,000 after acquiring an additional 550 shares during the period. Westpac Banking Corp boosted its stake in Walgreens Boots Alliance by 10.1% in the 4th quarter. Westpac Banking Corp now owns 6,100 shares of the pharmacy operator’s stock worth $159,000 after purchasing an additional 560 shares during the period. Shilanski & Associates Inc. boosted its stake in Walgreens Boots Alliance by 5.3% in the 1st quarter. Shilanski & Associates Inc. now owns 11,821 shares of the pharmacy operator’s stock worth $256,000 after purchasing an additional 591 shares during the period. First Trust Direct Indexing L.P. boosted its stake in Walgreens Boots Alliance by 1.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 32,085 shares of the pharmacy operator’s stock worth $696,000 after purchasing an additional 597 shares during the period. Finally, NBC Securities Inc. boosted its stake in Walgreens Boots Alliance by 9.9% in the 4th quarter. NBC Securities Inc. now owns 6,757 shares of the pharmacy operator’s stock worth $176,000 after purchasing an additional 611 shares during the period. 58.59% of the stock is currently owned by institutional investors.

About Walgreens Boots Alliance

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.