West Pharmaceutical Services, Inc. (NYSE:WST) Shares Acquired by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. increased its stake in West Pharmaceutical Services by 45.5%, adding 1,258 shares to reach a total of 4,021 shares worth approximately $900,000.
• West Pharmaceutical Services reported $1.84 EPS for the quarter, exceeding expectations, and its revenue rose by 9.2% year-over-year to $766.50 million.
• The company announced a dividend increase to $0.22 per share, representing an annualized dividend of $0.88 and a yield of 0.4%.

Atria Wealth Solutions Inc. increased its stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 45.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,021 shares of the medical instruments supplier's stock after buying an additional 1,258 shares during the period. Atria Wealth Solutions Inc.'s holdings in West Pharmaceutical Services were worth $900,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sound Financial Strategies Group LLC purchased a new stake in shares of West Pharmaceutical Services in the 1st quarter worth $544,000. PNC Financial Services Group Inc. raised its holdings in shares of West Pharmaceutical Services by 17.0% in the first quarter. PNC Financial Services Group Inc. now owns 22,779 shares of the medical instruments supplier's stock valued at $5,100,000 after acquiring an additional 3,315 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in West Pharmaceutical Services in the first quarter worth about $239,000. SlateStone Wealth LLC raised its holdings in shares of West Pharmaceutical Services by 19.9% in the 1st quarter. SlateStone Wealth LLC now owns 2,505 shares of the medical instruments supplier's stock valued at $561,000 after purchasing an additional 415 shares in the last quarter. Finally, Vestcor Inc boosted its stake in shares of West Pharmaceutical Services by 35.9% during the first quarter. Vestcor Inc now owns 1,615 shares of the medical instruments supplier's stock valued at $362,000 after purchasing an additional 427 shares in the last quarter. Institutional investors own 93.90% of the company's stock.

West Pharmaceutical Services Stock Performance

NYSE:WST traded up $1.31 during trading hours on Friday, reaching $247.51. The company had a trading volume of 343,211 shares, compared to its average volume of 851,531. The firm has a market cap of $17.80 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 4.36 and a beta of 1.05. West Pharmaceutical Services, Inc. has a 1-year low of $187.43 and a 1-year high of $352.33. The business's 50 day moving average price is $229.61 and its 200-day moving average price is $230.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.78 and a quick ratio of 2.08.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its earnings results 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 return on equity of 18.43% and a net margin of 16.48%. The business had revenue of $766.50 million during the quarter, compared to the consensus estimate of $725.11 million. During the same period in the prior year, the company posted $1.52 EPS. The business's quarterly revenue was up 9.2% on a year-over-year basis. Research analysts forecast that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders 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 yield of 0.4%. The ex-dividend date is Wednesday, November 12th. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's payout ratio is currently 12.57%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WST. UBS Group upped their price objective on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Citigroup restated a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Evercore ISI raised their price objective on West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Barclays initiated coverage on West Pharmaceutical Services in a research report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.