Cynosure Group LLC Has $2.38 Million Stock Position in West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Cynosure Group LLC significantly increased its stake in West Pharmaceutical Services by 902.4%, holding 10,625 shares valued at approximately $2.38 million.
• West Pharmaceutical Services reported earnings per share (EPS) of $1.84, exceeding estimates by $0.33, along with a 9.2% year-over-year revenue increase to $766.50 million.
• The company announced a quarterly dividend increase to $0.22, up from $0.21, with a payout ratio of 12.57% and an annualized yield of 0.4%.

Cynosure Group LLC raised its holdings in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 902.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,625 shares of the medical instruments supplier's stock after acquiring an additional 9,565 shares during the period. Cynosure Group LLC's holdings in West Pharmaceutical Services were worth $2,379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WST. Boston Trust Walden Corp boosted its holdings in shares of West Pharmaceutical Services by 4.7% in the first quarter. Boston Trust Walden Corp now owns 1,110 shares of the medical instruments supplier's stock valued at $249,000 after acquiring an additional 50 shares in the last quarter. MGO One Seven LLC raised its position in shares of West Pharmaceutical Services by 4.4% in the fourth quarter. MGO One Seven LLC now owns 1,277 shares of the medical instruments supplier's stock valued at $418,000 after buying an additional 54 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in shares of West Pharmaceutical Services by 0.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 9,318 shares of the medical instruments supplier's stock valued at $3,105,000 after buying an additional 55 shares during the last quarter. Formidable Asset Management LLC raised its position in shares of West Pharmaceutical Services by 2.7% in the fourth quarter. Formidable Asset Management LLC now owns 2,067 shares of the medical instruments supplier's stock valued at $677,000 after buying an additional 55 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of West Pharmaceutical Services by 0.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,887 shares of the medical instruments supplier's stock valued at $1,766,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. 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 objective for the company. Wall Street Zen raised shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group raised their target price 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. Stephens upgraded shares of West Pharmaceutical Services to a "strong-buy" rating in a report on Monday, April 21st. Finally, Citigroup restated a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Two equities 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. Based on 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 Trading Up 1.9%

West Pharmaceutical Services stock traded up $4.57 during trading hours on Wednesday, reaching $244.47. 175,140 shares of the company's stock traded hands, compared to its average volume of 856,367. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 4.25 and a beta of 1.05. The firm's 50 day moving average is $228.36 and its 200-day moving average is $230.60. 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, Inc. has a fifty-two week low of $187.43 and a fifty-two week high of $352.33.

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 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 last year, the business earned $1.52 EPS. The business's quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts predict that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is a boost 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 presently 12.57%.

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.