Fred Alger Management LLC Sells 2,556 Shares of West Pharmaceutical Services, Inc. $WST

Key Points

• Fred Alger Management LLC reduced its stake in West Pharmaceutical Services by 13.7%, selling 2,556 shares during the first quarter, leaving them with holdings worth approximately $3.6 million.
• West Pharmaceutical Services recently reported earnings per share of $1.84 for the quarter, exceeding estimates by $0.33, with a revenue of $766.50 million, achieving a 9.2% increase year-over-year.
• The company announced a dividend increase from $0.21 to $0.22 per share, with the next payment scheduled for November 19th, reflecting a positive trend in shareholder returns.

Fred Alger Management LLC trimmed its position in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,066 shares of the medical instruments supplier's stock after selling 2,556 shares during the period. Fred Alger Management LLC's holdings in West Pharmaceutical Services were worth $3,597,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WST. Zions Bancorporation National Association UT bought a new stake in shares of West Pharmaceutical Services during the 1st quarter worth $25,000. Quarry LP purchased a new position in West Pharmaceutical Services in the 1st quarter worth $27,000. First Horizon Advisors Inc. raised its position in West Pharmaceutical Services by 85.0% in the 1st quarter. First Horizon Advisors Inc. now owns 185 shares of the medical instruments supplier's stock worth $41,000 after purchasing an additional 85 shares during the period. Opal Wealth Advisors LLC purchased a new position in West Pharmaceutical Services in the 1st quarter worth $53,000. Finally, Whipplewood Advisors LLC raised its position in West Pharmaceutical Services by 248.0% in the 1st quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock worth $58,000 after purchasing an additional 186 shares during the period. 93.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WST. Barclays began 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 target price on the stock. UBS Group lifted their target price 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. Evercore ISI lifted their target price 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. Citigroup reiterated a "buy" rating on shares of West Pharmaceutical Services in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One investment 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $320.71.

West Pharmaceutical Services Trading Down 3.9%

Shares of WST stock traded down $10.24 during mid-day trading on Friday, reaching $253.50. The stock had a trading volume of 746,173 shares, compared to its average volume of 538,180. The stock's 50-day moving average price is $241.04 and its two-hundred day moving average price is $225.38. West Pharmaceutical Services, Inc. has a 52-week low of $187.43 and a 52-week high of $352.33. The firm has a market capitalization of $18.23 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 4.68 and a beta of 1.05. 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 (NYSE:WST - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share (EPS) 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 analysts' expectations of $725.11 million. During the same quarter in the previous year, the company earned $1.52 earnings per share. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. Equities analysts expect that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's payout ratio is presently 13.17%.

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.