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Walgreens (WBA) to Offer COVID-19 Vaccine Booster Shots
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Walgreens Boots Alliance, Inc.’s (WBA - Free Report) United States business wing Walgreens, recently announced that individuals over the age of 18 can now receive a Pfizer, Moderna or Johnson & Johnson COVID-19 vaccine booster in stores nationwide. This announcement comes after the FDA’s recent decision to extend Emergency Use Authorization for Pfizer and Moderna booster vaccines to people aged 18 and above, in addition to the new guidance issued by the Centers for Disease Control and Prevention (“CDC”).
Per the latest CDC guidance, adults aged 18 and older who took their Pfizer or Moderna primary vaccine series at least six months ago, or received a Johnson & Johnson dose at least two months ago are recommended to get a Pfizer, Moderna or J&J COVID-19 vaccine booster shot.
More on the News
Individuals are strongly advised to schedule vaccination appointments in advance through the Walgreens application or by visiting Walgreens.com/ScheduleVaccine in order to to ensure the optimum experience. Appointments can also be made by calling 1-800-WALGREENS. Individuals will be asked to verify eligibility and provide the manufacturer and date of their last COVID-19 vaccine when making an appointment.
Image Source: Zacks Investment Research
Per management, the eligibility expansion for booster doses offers another tool to limit the spread of COVID-19, particularly at a time when many people are gathering for the holidays.
Industry Prospects
Per a report published in Fortune Business Insights, the global vaccines market is expected to see a CAGR of 10.7% during 2020-2027. Enormous investments toward vaccine development owing to increasing prevalence of infectious diseases, growing pipeline of potential vaccine candidates to combat the COVID-19 pandemic, among other factors, are expected to drive the market.
Given the substantial market prospects, the recent availability of Pfizer, Moderna or Johnson & Johnson COVID-19 vaccine booster shots in Walgreens stores seems well-timed.
Notable Developments
In November 2021, Walgreens and VillageMD announced plans to open 20 new Village Medical (medical clinics) at Walgreens’ primary care practices in the Tampa, FL area over the next year. Both companies have teamed up to offer a coordinated care model that provides comprehensive primary care along with convenient pharmacy services. This coordinated care team model is likely to benefit Tampa residents, especially those living with chronic conditions, who require continuing care.
In October 2021, Walgreens expanded its Mental Health First Aid training for more than 27,000 Walgreens pharmacists. The company also collaborated with LifeWorks, Mental Health America to support initiatives that promote a mentally healthy workplace. Meanwhile, the Boots business introduced new services through its Health Hub and Online Doctor Platforms to help meet the growing need for mental health services in communities across Europe and the U.K..
In the same month, the company announced an additional investment of $5.2 billion in VillageMD to strengthen its strategic position in the delivery of value-based primary care. This investment is expected to bolster the opening of at least 600 Village Medical at Walgreens primary care practices in more than 30 U.S. markets by 2025, and 1,000 by 2027, with more than half of those practices situated in medically underserved communities.
Share Price Performance
The stock has underperformed its industry over the past year. It has rallied 23.7% against the industry’s 32.9% rise.
Zacks Rank and Key Picks
Currently, Walgreens Boots carries a Zacks Rank #4 (Sell).
AMN Healthcare, carrying a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in all of the trailing four quarters, delivering an average surprise of 19.5%.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 91.1% compared with the industry’s 47.5% fall.
Omnicell, carrying a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 16%. The company surpassed earnings estimates in all of the trailing four quarters, delivering a surprise of 17.4%, on average.
Omnicell has outperformed its industry over the past year. OMCL has gained 71.3% against the 35% industry decline.
NextGen, sporting a Zacks Rank #2, has a long-term earnings growth rate of 8.5%. The company surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 16%.
NextGen has outperformed the industry it belongs to in the past year. NXGN has declined 0.3% versus the industry’s 35% fall.
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Walgreens (WBA) to Offer COVID-19 Vaccine Booster Shots
Walgreens Boots Alliance, Inc.’s (WBA - Free Report) United States business wing Walgreens, recently announced that individuals over the age of 18 can now receive a Pfizer, Moderna or Johnson & Johnson COVID-19 vaccine booster in stores nationwide. This announcement comes after the FDA’s recent decision to extend Emergency Use Authorization for Pfizer and Moderna booster vaccines to people aged 18 and above, in addition to the new guidance issued by the Centers for Disease Control and Prevention (“CDC”).
Per the latest CDC guidance, adults aged 18 and older who took their Pfizer or Moderna primary vaccine series at least six months ago, or received a Johnson & Johnson dose at least two months ago are recommended to get a Pfizer, Moderna or J&J COVID-19 vaccine booster shot.
More on the News
Individuals are strongly advised to schedule vaccination appointments in advance through the Walgreens application or by visiting Walgreens.com/ScheduleVaccine in order to to ensure the optimum experience. Appointments can also be made by calling 1-800-WALGREENS. Individuals will be asked to verify eligibility and provide the manufacturer and date of their last COVID-19 vaccine when making an appointment.
Image Source: Zacks Investment Research
Per management, the eligibility expansion for booster doses offers another tool to limit the spread of COVID-19, particularly at a time when many people are gathering for the holidays.
Industry Prospects
Per a report published in Fortune Business Insights, the global vaccines market is expected to see a CAGR of 10.7% during 2020-2027. Enormous investments toward vaccine development owing to increasing prevalence of infectious diseases, growing pipeline of potential vaccine candidates to combat the COVID-19 pandemic, among other factors, are expected to drive the market.
Given the substantial market prospects, the recent availability of Pfizer, Moderna or Johnson & Johnson COVID-19 vaccine booster shots in Walgreens stores seems well-timed.
Notable Developments
In November 2021, Walgreens and VillageMD announced plans to open 20 new Village Medical (medical clinics) at Walgreens’ primary care practices in the Tampa, FL area over the next year. Both companies have teamed up to offer a coordinated care model that provides comprehensive primary care along with convenient pharmacy services. This coordinated care team model is likely to benefit Tampa residents, especially those living with chronic conditions, who require continuing care.
In October 2021, Walgreens expanded its Mental Health First Aid training for more than 27,000 Walgreens pharmacists. The company also collaborated with LifeWorks, Mental Health America to support initiatives that promote a mentally healthy workplace. Meanwhile, the Boots business introduced new services through its Health Hub and Online Doctor Platforms to help meet the growing need for mental health services in communities across Europe and the U.K..
In the same month, the company announced an additional investment of $5.2 billion in VillageMD to strengthen its strategic position in the delivery of value-based primary care. This investment is expected to bolster the opening of at least 600 Village Medical at Walgreens primary care practices in more than 30 U.S. markets by 2025, and 1,000 by 2027, with more than half of those practices situated in medically underserved communities.
Share Price Performance
The stock has underperformed its industry over the past year. It has rallied 23.7% against the industry’s 32.9% rise.
Zacks Rank and Key Picks
Currently, Walgreens Boots carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Omnicell, Inc. (OMCL - Free Report) and NextGen Healthcare, Inc. . You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare, carrying a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in all of the trailing four quarters, delivering an average surprise of 19.5%.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 91.1% compared with the industry’s 47.5% fall.
Omnicell, carrying a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 16%. The company surpassed earnings estimates in all of the trailing four quarters, delivering a surprise of 17.4%, on average.
Omnicell has outperformed its industry over the past year. OMCL has gained 71.3% against the 35% industry decline.
NextGen, sporting a Zacks Rank #2, has a long-term earnings growth rate of 8.5%. The company surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 16%.
NextGen has outperformed the industry it belongs to in the past year. NXGN has declined 0.3% versus the industry’s 35% fall.