Walgreens gets regulator's nod to buy Rite Aid stores

Justin Sullivan

The target implies a 41.3% spike from where the shares are now trading.

Burney Co. decreased its stake in Walgreens Boots Alliance, Inc. Loop Capital initiated coverage on Walgreens Boots Alliance in a research note on Thursday, August 24th. They issued a buy rating and a $95.00 price objective for the company. Finally, Guggenheim reissued a "buy" rating on shares of Walgreens Boots Alliance in a report on Monday, July 3rd. Wall Street is only getting more bullish on the stock, with 19 of analysts who cover WBA having a buy-equivalent rating. The company P/S (price to Sales) ratio is 0.75, P/B (price to Book) ratio is 2.9, while its P/C (price to Cash) ratio stands at 7.16. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25* countries and employ more than 400,000* people. The transaction has been approved by the boards of directors of Rite Aid and Walgreens Boots Alliance and is still subject to other customary closing conditions. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. The firm's 50-day moving average is $81.26 and its 200 day moving average is $81.99.

(NASDAQ:WBA), maintained return on investment for the last twelve months at -, higher than what Reuters data shows regarding industry's average. Hudock Capital Group LLC now owns 1,300 shares of the pharmacy operator's stock worth $108,000 after purchasing an additional 5 shares in the last quarter. The company had revenue of $30.12 billion during the quarter, compared to analyst estimates of $29.72 billion.

Quarterly Revenue Growth on year-over-year basis stands at 2.1 percent.

On a similar note, analysts expect EPS of $1.22 in August 2017 quarter and $1.28 in November 2017 quarter, representing 14.02% and 16.36% growth, respectively. On average, equities analysts forecast that Walgreens Boots Alliance, Inc. will post $5.00 EPS for the current year. "(NASDAQ:WBA)" was posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and global copyright & trademark law. The original version of this piece of content can be read at https://www.truebluetribune.com/2017/09/19/needham-company-llc-reiterates-buy-rating-for-walgreens-boots-alliance-inc-wba.html. This buyback authorization permits the pharmacy operator to buy up to 5.9% of its shares through open market purchases.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. This is a positive change from Walgreens Boots Alliance's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 16th. Walgreens Boots Alliance's dividend payout ratio is presently 40.30%. The shares were sold at an average price of $79.79, for a total value of $218,305.44. The analysts estimated EPS for the higher end at 1.32 and lower end at 1.22 while the year ago reported earnings per share was 0. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.50% of the company's stock. Walgreens Boots Alliance, Inc. LLC boosted its position in Walgreens Boots Alliance by 424.5% in the second quarter. Burgundy Asset Management Ltd. lifted its holdings in Walgreens Boots Alliance by 5.0% during the 2nd quarter. The fund owned 10,560 shares of the pharmacy operator's stock after selling 1,874 shares during the period. Finally, M Holdings Securities Inc. bought a new position in Walgreens Boots Alliance during the 2nd quarter worth approximately $219,000. UBS Asset Management Americas Inc. now owns 4,912,489 shares of the pharmacy operator's stock worth $407,982,000 after acquiring an additional 914,888 shares during the period. Modera Wealth Management LLC lifted its holdings in shares of Walgreens Boots Alliance by 0.4% during the first quarter.

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