Benjamin Edwards Inc. Purchases 1,038 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Benjamin Edwards Inc. increased its stake in West Pharmaceutical Services by 53.7% during the first quarter, now owning 2,971 shares valued at $665,000.
• Analysts are optimistic about West Pharmaceutical Services, with several firms raising their price targets and maintaining ratings like "buy" and "outperform."
• The company has recently announced an increase in its quarterly dividend from $0.21 to $0.22 per share, reflecting a continued commitment to shareholder returns.

Benjamin Edwards Inc. lifted its stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 53.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,971 shares of the medical instruments supplier's stock after acquiring an additional 1,038 shares during the period. Benjamin Edwards Inc.'s holdings in West Pharmaceutical Services were worth $665,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WST. Cynosure Group LLC boosted its stake in West Pharmaceutical Services by 902.4% during the first quarter. Cynosure Group LLC now owns 10,625 shares of the medical instruments supplier's stock valued at $2,379,000 after buying an additional 9,565 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of West Pharmaceutical Services in the first quarter worth about $25,000. Townsquare Capital LLC increased its holdings in shares of West Pharmaceutical Services by 12.7% in the first quarter. Townsquare Capital LLC now owns 34,091 shares of the medical instruments supplier's stock worth $7,632,000 after buying an additional 3,841 shares during the period. National Bank of Canada FI increased its holdings in West Pharmaceutical Services by 60.3% during the 1st quarter. National Bank of Canada FI now owns 55,304 shares of the medical instruments supplier's stock valued at $12,382,000 after purchasing an additional 20,805 shares during the period. Finally, Citigroup Inc. increased its holdings in West Pharmaceutical Services by 88.4% during the 1st quarter. Citigroup Inc. now owns 104,626 shares of the medical instruments supplier's stock valued at $23,424,000 after purchasing an additional 49,102 shares during the period. 93.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WST. Evercore ISI boosted their price target on West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, July 25th. 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 on the stock. Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group upped their price objective 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. Finally, Citigroup reissued a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Two 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $320.71.

West Pharmaceutical Services Price Performance

Shares of West Pharmaceutical Services stock opened at $246.29 on Friday. West Pharmaceutical Services, Inc. has a one year low of $187.43 and a one year high of $352.33. The stock's fifty day moving average is $229.61 and its 200 day moving average is $230.03. The stock has a market cap of $17.71 billion, a P/E ratio of 36.87, a P/E/G ratio of 4.36 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.08 and a current ratio of 2.78.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $725.11 million. During the same quarter in the prior year, the business posted $1.52 EPS. West Pharmaceutical Services's revenue for the quarter was up 9.2% compared to the same quarter last year. Sell-side analysts anticipate that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current 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 given a dividend of $0.22 per share. The ex-dividend date is Wednesday, November 12th. This is a positive change 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%. West Pharmaceutical Services's dividend payout ratio (DPR) is 12.57%.

West Pharmaceutical Services Company Profile

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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