Jefferies Group LLC Reiterates “Buy” Rating for Walgreens Boots Alliance, Inc. (WBA)

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a note issued to investors on Wednesday. They currently have a $95.00 price objective on the pharmacy operator’s stock. Jefferies Group LLC’s target price points to a potential upside of 20.50% from the stock’s current price.

Other equities analysts have also issued reports about the company. Needham & Company LLC set a $94.00 price objective on Walgreens Boots Alliance and gave the company a “buy” rating in a research report on Monday, July 17th. Credit Suisse Group reiterated a “buy” rating and issued a $97.00 price objective on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. Leerink Swann set a $86.00 price objective on Walgreens Boots Alliance and gave the company a “buy” rating in a research report on Friday, July 7th. Citigroup Inc. reiterated a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Finally, Guggenheim reiterated a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Walgreens Boots Alliance presently has an average rating of “Buy” and a consensus target price of $92.06.

Walgreens Boots Alliance (NASDAQ:WBA) traded down 2.92% during mid-day trading on Wednesday, hitting $78.84. 9,230,895 shares of the stock were exchanged. The stock has a market capitalization of $84.37 billion, a P/E ratio of 19.91 and a beta of 1.26. Walgreens Boots Alliance has a 12-month low of $75.18 and a 12-month high of $89.69. The firm has a 50-day moving average price of $81.36 and a 200-day moving average price of $81.86.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings data on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. Walgreens Boots Alliance had a return on equity of 17.34% and a net margin of 3.69%. The business had revenue of $30.12 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same period in the previous year, the firm earned $1.18 EPS. Walgreens Boots Alliance’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Walgreens Boots Alliance will post $5.00 earnings per share for the current fiscal year.

Walgreens Boots Alliance announced that its board has authorized a share repurchase plan on Thursday, June 29th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the pharmacy operator to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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In related news, Director William C. Foote sold 2,736 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $79.79, for a total value of $218,305.44. Following the sale, the director now owns 19,151 shares in the company, valued at approximately $1,528,058.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IBM Retirement Fund increased its position in Walgreens Boots Alliance by 88.1% during the 2nd quarter. IBM Retirement Fund now owns 22,903 shares of the pharmacy operator’s stock worth $2,004,000 after buying an additional 10,729 shares during the period. Russell Investments Group Ltd. increased its position in Walgreens Boots Alliance by 72.9% during the 1st quarter. Russell Investments Group Ltd. now owns 482,962 shares of the pharmacy operator’s stock worth $40,115,000 after buying an additional 203,635 shares during the period. Wellington Management Group LLP increased its position in Walgreens Boots Alliance by 5.9% during the 1st quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock worth $2,727,932,000 after buying an additional 1,824,300 shares during the period. Montecito Bank & Trust increased its position in Walgreens Boots Alliance by 3.6% during the 2nd quarter. Montecito Bank & Trust now owns 6,661 shares of the pharmacy operator’s stock worth $522,000 after buying an additional 230 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in Walgreens Boots Alliance by 9.3% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 75,821 shares of the pharmacy operator’s stock worth $6,296,000 after buying an additional 6,462 shares during the period. Institutional investors and hedge funds own 60.16% of the company’s stock.

Walgreens Boots Alliance Company Profile

Walgreens Boots Alliance, Inc (Walgreens Boots Alliance) is a holding company. The Company is a global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance operates through three divisions, including Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. The Company’s products are marketed under a number of brands, which include No7, the Botanics range, Almus (generic medicines), Boots Pharmaceuticals and Soap & Glory (bathing and beauty brand).

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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