West Pharmaceutical Services, Inc. $WST Stake Raised by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. significantly increased its holdings in West Pharmaceutical Services by acquiring an additional 163,502 shares, raising its ownership to 165,722 shares, valued at approximately $37.1 million.
• West Pharmaceutical Services reported a 9.2% year-over-year increase in quarterly revenue, amounting to $766.5 million, and surpassed EPS expectations by earning $1.84 per share.
• The company announced a dividend increase, raising its quarterly payout from $0.21 to $0.22, with a scheduled payment date of November 19th for investors of record on November 12th.

Baird Financial Group Inc. boosted its holdings in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 7,365.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,722 shares of the medical instruments supplier's stock after purchasing an additional 163,502 shares during the quarter. Baird Financial Group Inc. owned approximately 0.23% of West Pharmaceutical Services worth $37,102,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vident Advisory LLC boosted its holdings in West Pharmaceutical Services by 27.0% in the first quarter. Vident Advisory LLC now owns 3,028 shares of the medical instruments supplier's stock worth $678,000 after purchasing an additional 643 shares during the period. Te Ahumairangi Investment Management Ltd acquired a new position in West Pharmaceutical Services in the first quarter worth $638,000. Trexquant Investment LP acquired a new position in West Pharmaceutical Services in the first quarter worth $10,340,000. LTS One Management LP acquired a new position in West Pharmaceutical Services in the first quarter worth $24,627,000. Finally, Lansforsakringar Fondforvaltning AB publ boosted its holdings in West Pharmaceutical Services by 0.5% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 24,381 shares of the medical instruments supplier's stock worth $5,458,000 after purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 93.90% of the company's stock.

West Pharmaceutical Services Stock Performance

Shares of NYSE WST traded up $4.78 during midday trading on Wednesday, reaching $248.52. 660,876 shares of the company traded hands, compared to its average volume of 502,384. West Pharmaceutical Services, Inc. has a 52 week low of $187.43 and a 52 week high of $352.33. The stock has a 50-day moving average price of $236.41 and a 200 day moving average price of $223.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.78 and a quick ratio of 2.08. The company has a market cap of $17.87 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 4.38 and a beta of 1.05.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share for the quarter, beating 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 business had revenue of $766.50 million for the quarter, compared to analysts' expectations of $725.11 million. During the same period in the previous year, the business earned $1.52 earnings per share. The company's revenue was up 9.2% on a year-over-year basis. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. Sell-side analysts anticipate 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. Investors of record on Wednesday, November 12th will be paid a dividend of $0.22 per share. 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 dividend yield of 0.4%. The ex-dividend date is Wednesday, November 12th. West Pharmaceutical Services's dividend payout ratio (DPR) is presently 12.57%.

Wall Street Analyst Weigh In

A number of research firms have commented on WST. Evercore ISI lifted their price objective on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. UBS Group lifted their price objective on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Citigroup reissued a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Wall Street Zen raised shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Barclays began coverage on shares of West Pharmaceutical Services in a report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus 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.