Cetera Investment Advisers Grows Stake in West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Cetera Investment Advisers increased its holdings in West Pharmaceutical Services by 14.0%, owning 23,450 shares after acquiring an additional 2,879 shares during the first quarter.
• West Pharmaceutical Services has seen significant investment from other large firms, with institutional ownership reaching 93.90% of the company's stock.
• The company recently declared a quarterly dividend increase, raising it from $0.21 to $0.22, representing an annualized payout of $0.88 and a yield of 0.4%.

Cetera Investment Advisers grew its stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 14.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,450 shares of the medical instruments supplier's stock after buying an additional 2,879 shares during the period. Cetera Investment Advisers' holdings in West Pharmaceutical Services were worth $5,250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DAVENPORT & Co LLC increased its stake in shares of West Pharmaceutical Services by 103.8% in the first quarter. DAVENPORT & Co LLC now owns 2,230 shares of the medical instruments supplier's stock worth $499,000 after purchasing an additional 1,136 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in West Pharmaceutical Services by 34.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 5,581 shares of the medical instruments supplier's stock valued at $1,249,000 after acquiring an additional 1,437 shares in the last quarter. Bessemer Group Inc. boosted its holdings in West Pharmaceutical Services by 43.7% during the first quarter. Bessemer Group Inc. now owns 1,075 shares of the medical instruments supplier's stock valued at $241,000 after purchasing an additional 327 shares in the last quarter. Sivik Global Healthcare LLC acquired a new position in shares of West Pharmaceutical Services in the 1st quarter worth approximately $2,799,000. Finally, State of Alaska Department of Revenue lifted its position in shares of West Pharmaceutical Services by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 8,486 shares of the medical instruments supplier's stock worth $1,899,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 93.90% of the company's stock.

West Pharmaceutical Services Price Performance

Shares of WST stock traded down $0.11 during trading hours on Friday, reaching $239.15. The company's stock had a trading volume of 632,899 shares, compared to its average volume of 873,539. West Pharmaceutical Services, Inc. has a fifty-two week low of $187.43 and a fifty-two week high of $352.33. The firm's 50 day simple moving average is $224.19 and its 200-day simple moving average is $234.85. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 4.23 and a beta of 1.05.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last issued its earnings results 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 firm had revenue of $766.50 million for the quarter, compared to analyst estimates of $725.11 million. During the same quarter last year, the business posted $1.52 earnings per share. The company's quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be issued a $0.22 dividend. 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 annualized dividend and a yield of 0.4%. West Pharmaceutical Services's dividend payout ratio (DPR) is presently 12.57%.

Wall Street Analyst Weigh In

Several analysts have weighed in on WST shares. Stephens raised shares of West Pharmaceutical Services to a "strong-buy" rating in a research note on Monday, April 21st. UBS Group boosted their target price on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Evercore ISI boosted their target price on West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" 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. Finally, Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, West Pharmaceutical Services presently has a consensus rating of "Moderate Buy" and an average target price of $320.71.

West Pharmaceutical Services 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.