Walgreens Boots Alliance (NASDAQ:WBA) Trading 0.2% Higher – Should You Buy?

Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) traded up 0.2% during trading on Wednesday . The stock traded as high as $9.17 and last traded at $9.10. 3,855,753 shares changed hands during trading, a decline of 76% from the average session volume of 16,354,463 shares. The stock had previously closed at $9.08.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Evercore ISI decreased their target price on Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. UBS Group cut their price target on Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. TD Cowen cut their price target on Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Royal Bank of Canada cut their price target on Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. Finally, Morgan Stanley cut their price target on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday. Four investment 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.46.

Walgreens Boots Alliance Stock Performance

The company has a market cap of $7.95 billion, a price-to-earnings ratio of -1.34, a price-to-earnings-growth ratio of 1.03 and a beta of 0.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.31. The stock has a 50-day moving average price of $9.49 and a 200 day moving average price of $13.58.

Institutional Investors Weigh In On Walgreens Boots Alliance

Hedge funds have recently modified their holdings of the business. Capital World Investors grew its holdings in shares of Walgreens Boots Alliance by 57.5% during the first quarter. Capital World Investors now owns 29,061,021 shares of the pharmacy operator’s stock worth $630,334,000 after buying an additional 10,612,373 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of Walgreens Boots Alliance by 98.8% during the second quarter. Thompson Siegel & Walmsley LLC now owns 6,021,126 shares of the pharmacy operator’s stock worth $72,826,000 after buying an additional 2,992,648 shares in the last quarter. Newport Trust Company LLC bought a new position in Walgreens Boots Alliance in the second quarter valued at approximately $31,028,000. Swedbank AB bought a new position in Walgreens Boots Alliance in the first quarter valued at approximately $16,365,000. Finally, Minneapolis Portfolio Management Group LLC bought a new position in Walgreens Boots Alliance in the first quarter valued at approximately $13,710,000. Institutional investors and hedge funds own 58.59% of the company’s stock.

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.