Walgreen Company (NYSE: WAG) director, Stefano Pessina, recently bought 83,299 shares of WAG common stock at $48.62 per share, according to a SEC filing. Pessina made a total investment of $4.05 million.
WAG shares are gaining in trading today, extending their gains from previous trading sessions. The stock is currently up 0.93% to $49.81 on volume of 3.09 million. WAG shares have gained more than 2.30% in the last three trading sessions.
WAG shares have gained more than 34.70%, year-to-date, outperforming the S&P 500.
The purchase from Pessina came exactly a month after Walgreen reported its financial results for the second quarter of fiscal year 2013.
For the quarter ended February 28, 2013, the Deerfield, Illinois-based company reported net earnings of $756 million, or $0.79 per share, compared to $683 million, or $0.78 per share reported for the same period in the previous year. Adjusted net earnings for the second quarter stood at $915 million, or $0.96 per share, compared to $767 million, or $0.88 per share reported for the same period in the previous year.
Sales for the second quarter stood at $18.65 billion, flat from the same period in the previous fiscal year. The company’s front-end comparable store sales for the quarter fell 2.6%.
Greg Wasson, President and CEO of Walgreen, last month said that he is pleased with the second-quarter results as the company saw substantial strength in its pharmacy performance, leading to strong earnings growth.
Wasson noted that Alliance Boots contribution to the company’s results was in-line with expectations in the second quarter, and the company expects that to continue in the second half of its fiscal year.
Walgreen Company is an operator of a drugstore chain in the U.S.
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