Candriam S.C.A. Purchases 3,140 Shares of West Pharmaceutical Services, Inc. $WST

Key Points

• Candriam S.C.A. increased its West Pharmaceutical Services position by 3.3%, buying 3,140 shares in the third quarter to hold 99,489 shares valued at about $37 million. Institutional investors and hedge funds own 93.9% of the stock.
• West reported quarterly EPS of $2.66, beating the $2.20 consensus, while revenue rose 8.7% year over year to $874.5 million. The company also raised its quarterly dividend from $0.22 to $0.26 per share.
• Analyst sentiment is broadly positive: 13 analysts rate the stock Buy and one rates it Hold, with a consensus “Moderate Buy” rating and an average price target of $424.67.

Candriam S.C.A. boosted its position in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,489 shares of the medical instruments supplier's stock after purchasing an additional 3,140 shares during the quarter. Candriam S.C.A. owned about 0.14% of West Pharmaceutical Services worth $37,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evergreen Capital Management LLC raised its holdings in shares of West Pharmaceutical Services by 2.5% during the third quarter. Evergreen Capital Management LLC now owns 1,131 shares of the medical instruments supplier's stock valued at $419,000 after buying an additional 28 shares during the last quarter. Greenleaf Trust boosted its position in shares of West Pharmaceutical Services by 4.1% during the second quarter. Greenleaf Trust now owns 843 shares of the medical instruments supplier's stock worth $303,000 after buying an additional 33 shares during the period. Wealth Alliance LLC boosted its position in shares of West Pharmaceutical Services by 3.8% during the first quarter. Wealth Alliance LLC now owns 945 shares of the medical instruments supplier's stock worth $237,000 after buying an additional 35 shares during the period. 55 North Private Wealth LLC grew its holdings in West Pharmaceutical Services by 5.4% in the 3rd quarter. 55 North Private Wealth LLC now owns 708 shares of the medical instruments supplier's stock worth $262,000 after buying an additional 36 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in West Pharmaceutical Services by 4.1% in the 3rd quarter. D.A. Davidson & CO. now owns 909 shares of the medical instruments supplier's stock worth $337,000 after buying an additional 36 shares in the last quarter. 93.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at West Pharmaceutical Services

In other news, VP Annette Favorite sold 8,135 shares of the firm's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $340.81, for a total transaction of $2,772,489.35. Following the completion of the transaction, the vice president owned 16,845 shares in the company, valued at approximately $5,740,944.45. This trade represents a 32.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 15,659 shares of company stock worth $5,443,749. Company insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on WST. Morgan Stanley upgraded West Pharmaceutical Services from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $365.00 to $400.00 in a research report on Tuesday, September 22nd. TD Cowen boosted their price target on West Pharmaceutical Services from $420.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Weiss Ratings raised West Pharmaceutical Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, November 2nd. Citigroup raised their price target on West Pharmaceutical Services from $412.00 to $494.00 and gave the company a "buy" rating in a report on Friday, October 30th. Finally, Zacks Research cut shares of West Pharmaceutical Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $424.67.

West Pharmaceutical Services Stock Performance

WST opened at $399.62 on Monday. The company has a market capitalization of $27.84 billion, a price-to-earnings ratio of 44.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.82 and a quick ratio of 2.10. West Pharmaceutical Services, Inc. has a 1-year low of $223.83 and a 1-year high of $438.27. The business has a 50 day moving average price of $373.06 and a two-hundred day moving average price of $316.61.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The medical instruments supplier reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.46. West Pharmaceutical Services had a return on equity of 21.78% and a net margin of 18.81%. The company had revenue of $874.50 million for the quarter, compared to analysts' expectations of $827.12 million. During the same period last year, the firm earned $1.96 EPS. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that West Pharmaceutical Services, Inc. will post 9.46 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Wednesday, November 11th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.22. West Pharmaceutical Services's dividend payout ratio is currently 11.67%.

About West Pharmaceutical Services

West Pharmaceutical Services designs and manufactures packaging components and delivery systems used by the pharmaceutical, biotechnology, and medical device industries. Its products help contain and administer injectable medicines and include elastomeric components, such as stoppers and seals, as well as syringe components and other packaging and delivery solutions.

The company also provides contract manufacturing services for medical devices and pharmaceutical delivery systems. Its customers include companies developing and producing branded, generic, and biologic medicines.

Founded in 1923 by Herman O.

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