First Hawaiian Bank Cuts Position in West Pharmaceutical Services, Inc. $WST

Key Points

• First Hawaiian Bank reduced its stake in West Pharmaceutical Services, Inc. by 32.7%, selling 1,985 shares during the first quarter, leaving them with 4,092 shares valued at approximately $916,000.
• While First Hawaiian Bank decreased its position, other hedge funds increased their holdings significantly, such as DAVENPORT & Co LLC raising their stake by 103.8%.
• West Pharmaceutical Services recently increased its quarterly dividend to $0.22 per share, reflecting a yield of 0.3% and indicating a positive outlook for the company.

First Hawaiian Bank reduced its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 32.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,092 shares of the medical instruments supplier's stock after selling 1,985 shares during the quarter. First Hawaiian Bank's holdings in West Pharmaceutical Services were worth $916,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. DAVENPORT & Co LLC raised its holdings in shares of West Pharmaceutical Services by 103.8% during the 1st quarter. DAVENPORT & Co LLC now owns 2,230 shares of the medical instruments supplier's stock valued at $499,000 after buying an additional 1,136 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of West Pharmaceutical Services by 34.7% during 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 buying an additional 1,437 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of West Pharmaceutical Services during the 1st quarter valued at about $329,000. Polar Asset Management Partners Inc. raised its holdings in shares of West Pharmaceutical Services by 106.5% during the 1st quarter. Polar Asset Management Partners Inc. now owns 53,070 shares of the medical instruments supplier's stock valued at $11,881,000 after buying an additional 27,370 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of West Pharmaceutical Services by 43.7% during the 1st quarter. Bessemer Group Inc. now owns 1,075 shares of the medical instruments supplier's stock valued at $241,000 after buying an additional 327 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup reiterated a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Wall Street Zen upgraded West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Evercore ISI raised their price objective on West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Barclays assumed coverage on West Pharmaceutical Services in a research note on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 price objective for the company. Finally, UBS Group raised their price objective on West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $320.71.

West Pharmaceutical Services Price Performance

Shares of WST opened at $253.50 on Friday. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 37.95, a PEG ratio of 4.68 and a beta of 1.05. The stock has a 50 day moving average of $241.04 and a 200-day moving average of $225.42. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a 52 week low of $187.43 and a 52 week high of $352.33.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last issued its earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 EPS for the quarter, topping the consensus estimate of $1.51 by $0.33. The company had revenue of $766.50 million during the quarter, compared to analyst estimates of $725.11 million. West Pharmaceutical Services had a return on equity of 18.43% and a net margin of 16.48%.The business's revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. As a group, analysts forecast that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors 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 represents a $0.88 dividend on an annualized basis and a yield of 0.3%. This is an increase from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's payout ratio is presently 13.17%.

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.

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