Avantax Advisory Services Inc. Increases Stock Position in West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Avantax Advisory Services Inc. increased its holding in West Pharmaceutical Services by 18.1% during the 1st quarter, now owning 7,636 shares valued at approximately $1.7 million.
• West Pharmaceutical Services reported strong quarterly earnings of $1.84 per share, exceeding analysts' expectations and demonstrating a 9.2% year-over-year revenue growth.
• The company has announced an increase in its quarterly dividend from $0.21 to $0.22 per share, with the next payment scheduled for November 19th.

Avantax Advisory Services Inc. boosted its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,636 shares of the medical instruments supplier's stock after buying an additional 1,168 shares during the quarter. Avantax Advisory Services Inc.'s holdings in West Pharmaceutical Services were worth $1,709,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of WST. First Horizon Advisors Inc. lifted its position in shares of 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 worth $41,000 after purchasing an additional 85 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of West Pharmaceutical Services during the fourth quarter worth about $74,000. Opal Wealth Advisors LLC acquired a new stake in shares of West Pharmaceutical Services during the first quarter worth about $53,000. Whipplewood Advisors LLC lifted its position in shares of West Pharmaceutical Services by 248.0% during the first quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock worth $58,000 after purchasing an additional 186 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of West Pharmaceutical Services by 38.5% during the first quarter. Exchange Traded Concepts LLC now owns 331 shares of the medical instruments supplier's stock worth $74,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 93.90% of the company's stock.

West Pharmaceutical Services Stock Down 4.2%

WST stock opened at $238.71 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a twelve month low of $187.43 and a twelve month high of $352.33. The company's 50 day moving average is $223.53 and its two-hundred day moving average is $236.82. The stock has a market cap of $17.17 billion, a P/E ratio of 35.74, a PEG ratio of 4.41 and a beta of 1.09.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter last year, the company earned $1.52 earnings per share. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. Research analysts expect that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The business 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from West Pharmaceutical Services's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.4%. West Pharmaceutical Services's dividend payout ratio is 12.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WST. Stephens raised shares of West Pharmaceutical Services to a "strong-buy" rating in a research report on Monday, April 21st. Wall Street Zen raised shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Evercore ISI raised their target price on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, July 25th. UBS Group raised their target price on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, West Pharmaceutical Services presently has a consensus rating of "Moderate Buy" and an average price target 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.

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