10 Oversold NASDAQ Stocks To Invest In Now

4. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)  

Number of Hedge Fund Investors: 35  

Forward P/E Ratio as of October 23: 5.46  

YTD Performance as of October 23: -62.73%  

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is a global pharmacy and healthcare company with retail pharmacy chains in the U.S. and Europe. The company has been working to diversify its offerings, including expanding into healthcare services.

For the fiscal ended August 31, Walgreens Boots Alliance, Inc.’s (NASDAQ:WBA) sales grew by 6.2% to $147.7 billion. The U.S. Healthcare segment achieved an adjusted EBITDA increase of $442 million. The company exceeded its fiscal 2024 targets, including $1 billion in cost savings, a $600 million reduction in capital expenditures, and $500 million in working capital initiatives. Additionally, the company’s net debt was reduced by $1.9 billion, and lease obligations were lowered by $1.2 billion.

The company announced a footprint optimization program aimed at closing approximately 1,200 locations over the next three years, including around 500 closures in fiscal 2025. These actions are expected to be immediately accretive to adjusted EPS and free cash flow.

For fiscal 2025, Walgreens Boots Alliance, Inc. (NASDAQ:WBA) anticipates adjusted EPS in the range of $1.40 to $1.80. While growth is expected in the U.S. Healthcare and International segments, this will be more than offset by a decline in the U.S. Retail Pharmacy, a higher adjusted effective tax rate, and reduced contributions from sale-leaseback transactions and Cencora earnings.