Guggenheim Upgrades Walgreens Boots Alliance (NASDAQ:WBA) to “Buy”

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Guggenheim upgraded shares of Walgreens Boots Alliance (NASDAQ:WBA) from a neutral rating to a buy rating in a research note released on Monday, The Fly reports. They currently have $55.00 price target on the pharmacy operator’s stock.

A number of other equities research analysts have also recently weighed in on WBA. Bank of America reissued a sell rating and issued a $37.00 price target on shares of Walgreens Boots Alliance in a research report on Wednesday, October 7th. Credit Suisse Group began coverage on Walgreens Boots Alliance in a report on Thursday, January 7th. They issued a neutral rating and a $42.00 target price for the company. Truist raised their price target on Walgreens Boots Alliance from $44.00 to $48.00 in a research note on Friday, January 8th. BidaskClub cut Walgreens Boots Alliance from a hold rating to a sell rating in a research note on Friday, December 18th. Finally, The Goldman Sachs Group cut their target price on shares of Walgreens Boots Alliance from $37.00 to $33.00 and set a sell rating on the stock in a report on Tuesday, October 6th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. Walgreens Boots Alliance presently has a consensus rating of Hold and a consensus price target of $44.22.

Shares of NASDAQ WBA opened at $48.94 on Monday. The stock’s 50-day simple moving average is $41.34 and its 200-day simple moving average is $39.34. The firm has a market capitalization of $42.29 billion, a PE ratio of 97.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.44. Walgreens Boots Alliance has a fifty-two week low of $33.36 and a fifty-two week high of $54.79. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.32 and a current ratio of 0.67.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings results on Wednesday, January 6th. The pharmacy operator reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.19. The company had revenue of $36.31 billion for the quarter, compared to analyst estimates of $35.01 billion. Walgreens Boots Alliance had a net margin of 0.33% and a return on equity of 18.33%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 earnings per share. On average, sell-side analysts forecast that Walgreens Boots Alliance will post 4.84 earnings per share for the current fiscal year.

In related news, CAO Marco Patrick Anthony Pagni sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $41.55, for a total value of $207,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.91% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC lifted its stake in shares of Walgreens Boots Alliance by 855.1% in the second quarter. Cubist Systematic Strategies LLC now owns 83,128 shares of the pharmacy operator’s stock valued at $3,524,000 after purchasing an additional 74,424 shares during the period. Sei Investments Co. lifted its position in shares of Walgreens Boots Alliance by 8.5% during the 2nd quarter. Sei Investments Co. now owns 362,915 shares of the pharmacy operator’s stock valued at $15,454,000 after acquiring an additional 28,560 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Walgreens Boots Alliance during the 2nd quarter worth approximately $1,651,000. Wealthsource Partners LLC grew its holdings in shares of Walgreens Boots Alliance by 14.8% in the 2nd quarter. Wealthsource Partners LLC now owns 7,357 shares of the pharmacy operator’s stock worth $312,000 after acquiring an additional 951 shares during the period. Finally, Zebra Capital Management LLC purchased a new position in Walgreens Boots Alliance in the 2nd quarter valued at approximately $211,000. 55.96% of the stock is currently owned by hedge funds and other institutional investors.

Walgreens Boots Alliance Company Profile

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and beauty retail 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, wellness, beauty, personal care, consumable, and general merchandise products through its retail drugstores.

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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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