Adage Capital Partners GP L.L.C. Sells 31,600 Shares of West Pharmaceutical Services, Inc. $WST

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in West Pharmaceutical Services by 13.0%, selling 31,600 shares and now owning 211,107 shares valued at approximately $47.26 million.
• Several institutional investors, including Vanguard Group Inc. and Durable Capital Partners LP, increased their stakes in West Pharmaceutical Services, with Vanguard now owning over 9 million shares worth $2.07 billion.
• West Pharmaceutical Services recently declared a quarterly dividend increase to $0.22 per share, up from $0.21, reflecting an annualized dividend yield of 0.4%.

Adage Capital Partners GP L.L.C. trimmed its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,107 shares of the medical instruments supplier's stock after selling 31,600 shares during the period. Adage Capital Partners GP L.L.C. owned 0.29% of West Pharmaceutical Services worth $47,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in West Pharmaceutical Services during the first quarter valued at about $25,000. Quarry LP purchased a new stake in West Pharmaceutical Services during the first quarter valued at about $27,000. First Horizon Advisors Inc. lifted its holdings in West Pharmaceutical Services by 85.0% during the first quarter. First Horizon Advisors Inc. now owns 185 shares of the medical instruments supplier's stock valued at $41,000 after purchasing an additional 85 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in West Pharmaceutical Services during the first quarter valued at about $53,000. Finally, Whipplewood Advisors LLC lifted its holdings in West Pharmaceutical Services by 248.0% during the first quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock valued at $58,000 after purchasing an additional 186 shares during the last quarter. 93.90% of the stock is owned by institutional investors.

West Pharmaceutical Services Price Performance

Shares of WST stock traded down $1.80 during trading on Tuesday, hitting $251.36. The company had a trading volume of 174,042 shares, compared to its average volume of 820,351. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.07. The stock's 50-day moving average is $238.29 and its two-hundred day moving average is $224.45. The stock has a market capitalization of $18.07 billion, a price-to-earnings ratio of 37.62, a price-to-earnings-growth ratio of 4.45 and a beta of 1.05. West Pharmaceutical Services, Inc. has a 52 week low of $187.43 and a 52 week high of $352.33.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.33. West Pharmaceutical Services had a net margin of 16.48% and a return on equity of 18.43%. The company had revenue of $766.50 million for the quarter, compared to analysts' expectations of $725.11 million. During the same period in the prior year, the business earned $1.52 earnings per share. West Pharmaceutical Services's revenue for the quarter was up 9.2% compared to the same quarter last year. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. As a group, analysts predict that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, November 12th. This is an increase from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's dividend payout ratio (DPR) is currently 12.57%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WST shares. UBS Group lifted their price target on West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Citigroup reiterated a "buy" rating on shares of West Pharmaceutical Services in a research report on Thursday, May 22nd. Wall Street Zen upgraded West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Barclays started coverage on West Pharmaceutical Services in a research report on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 price target for the company. Finally, Evercore ISI lifted their price target on West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $320.71.

About West Pharmaceutical Services

West Pharmaceutical Services, Inc designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products.