Charles Schwab Investment Management Inc. Buys 23,707 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in West Pharmaceutical Services by 5.1%, now owning 491,827 shares valued at roughly $110.11 million.
• West Pharmaceutical recently reported quarterly earnings of $1.84 per share, surpassing estimates, with revenues reaching $766.5 million, a 9.2% increase year-over-year.
• The company announced a quarterly dividend increase to $0.22 per share, up from $0.21, reflecting a 0.4% yield and a dividend payout ratio of 12.57%.

Charles Schwab Investment Management Inc. raised its holdings in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 491,827 shares of the medical instruments supplier's stock after purchasing an additional 23,707 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.68% of West Pharmaceutical Services worth $110,110,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in shares of West Pharmaceutical Services by 85.0% during the 1st quarter. First Horizon Advisors Inc. now owns 185 shares of the medical instruments supplier's stock worth $41,000 after acquiring an additional 85 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of West Pharmaceutical Services during the 1st quarter worth approximately $53,000. Whipplewood Advisors LLC lifted its holdings in shares of West Pharmaceutical Services by 248.0% during the 1st quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock worth $58,000 after acquiring an additional 186 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of West Pharmaceutical Services by 38.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 331 shares of the medical instruments supplier's stock worth $74,000 after acquiring an additional 92 shares during the period. Finally, Allworth Financial LP increased its position in West Pharmaceutical Services by 229.7% during the 1st quarter. Allworth Financial LP now owns 455 shares of the medical instruments supplier's stock worth $96,000 after purchasing an additional 317 shares in the last quarter. Institutional investors own 93.90% of the company's stock.

West Pharmaceutical Services Trading Up 0.5%

NYSE WST traded up $1.31 on Friday, hitting $247.51. The company's stock had a trading volume of 343,211 shares, compared to its average volume of 851,531. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a 1-year low of $187.43 and a 1-year high of $352.33. The company's 50-day moving average is $229.61 and its 200 day moving average is $230.03. The firm has a market cap of $17.80 billion, a PE ratio of 37.08, a PEG ratio of 4.36 and a beta of 1.05.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $725.11 million. During the same period in the prior year, the company posted $1.52 earnings per share. West Pharmaceutical Services's revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, analysts predict that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current fiscal 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. This represents a $0.88 annualized dividend and a dividend yield of 0.4%. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, November 12th. West Pharmaceutical Services's dividend payout ratio is currently 12.57%.

Wall Street Analysts Forecast Growth

WST has been the subject of a number of research analyst reports. Evercore ISI upped their price objective on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Stephens upgraded shares of West Pharmaceutical Services to a "strong-buy" rating in a research report on Monday, April 21st. Citigroup reiterated a "buy" rating on shares of West Pharmaceutical Services in a research report on Thursday, May 22nd. UBS Group upped their price objective on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Barclays assumed coverage on shares of West Pharmaceutical Services in a research report on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 price target for the company. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, West Pharmaceutical Services has an average rating of "Moderate Buy" and a consensus 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.