Walgreens Boots Alliance (NASDAQ:WBA) PT Lowered to $7.00 at Morgan Stanley

Walgreens Boots Alliance (NASDAQ:WBA) had its price target cut by Morgan Stanley from $9.00 to $7.00 in a research note released on Friday, Benzinga reports. They currently have an underweight rating on the pharmacy operator’s stock.

WBA has been the topic of a number of other research reports. Bank of America reduced their price target on Walgreens Boots Alliance from $11.00 to $7.50 and set an underperform rating on the stock in a report on Wednesday, September 4th. TD Cowen cut their price objective on Walgreens Boots Alliance from $22.00 to $16.00 and set a buy rating on the stock in a research report on Thursday, September 12th. Royal Bank of Canada cut their price objective on Walgreens Boots Alliance from $22.00 to $13.00 and set a sector perform rating on the stock in a research report on Tuesday, July 2nd. Evercore ISI cut their price objective on Walgreens Boots Alliance from $17.00 to $10.00 and set an in-line rating on the stock in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. cut their price objective on Walgreens Boots Alliance from $20.00 to $15.00 and set an overweight rating on the stock in a research report on Friday, August 30th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $13.46.

Walgreens Boots Alliance Stock Down 2.3 %

Shares of NASDAQ:WBA opened at $9.00 on Friday. Walgreens Boots Alliance has a 1 year low of $8.22 and a 1 year high of $27.05. The company has a market cap of $7.77 billion, a PE ratio of -1.34, a P/E/G ratio of 1.04 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’s 50-day moving average is $9.41 and its 200 day moving average is $13.31.

Hedge Funds Weigh In On Walgreens Boots Alliance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WBA. Iron Horse Wealth Management LLC lifted its position in Walgreens Boots Alliance by 162.5% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock valued at $25,000 after acquiring an additional 1,300 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in Walgreens Boots Alliance during the 4th quarter valued at $26,000. Blue Trust Inc. raised its stake in Walgreens Boots Alliance by 87.0% during the 2nd quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 1,081 shares during the last quarter. Continuum Advisory LLC raised its stake in Walgreens Boots Alliance by 71.2% during the 2nd quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 1,020 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Walgreens Boots Alliance during the 2nd quarter valued at $34,000. 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.