Gateway Investment Advisers LLC Sells 27,882 Shares of West Pharmaceutical Services, Inc. $WST

Key Points

• Gateway Investment Advisers LLC reduced its stake in West Pharmaceutical Services by 56.3% in the second quarter, now holding 21,661 shares valued at approximately $4.74 million.
• West Pharmaceutical Services recently increased its quarterly dividend to $0.22 per share, up from $0.21, affirming its commitment to returning value to shareholders.
• The company reported $1.84 earnings per share in its last earnings release, surpassing analysts' expectations of $1.51, contributing to a year-over-year revenue increase of 9.2%.

Gateway Investment Advisers LLC lowered its holdings in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 56.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,661 shares of the medical instruments supplier's stock after selling 27,882 shares during the period. Gateway Investment Advisers LLC's holdings in West Pharmaceutical Services were worth $4,739,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of West Pharmaceutical Services during the first quarter valued at about $329,000. DAVENPORT & Co LLC raised its position in shares of West Pharmaceutical Services by 103.8% during the first 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 last quarter. Robeco Institutional Asset Management B.V. boosted its stake in West Pharmaceutical Services by 34.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 5,581 shares of the medical instruments supplier's stock worth $1,249,000 after buying an additional 1,437 shares during the period. Polar Asset Management Partners Inc. lifted its stake in West Pharmaceutical Services by 106.5% in the first quarter. Polar Asset Management Partners Inc. now owns 53,070 shares of the medical instruments supplier's stock worth $11,881,000 after acquiring an additional 27,370 shares during the period. Finally, First National Bank Sioux Falls increased its holdings in shares of West Pharmaceutical Services by 121.4% during the second quarter. First National Bank Sioux Falls now owns 4,727 shares of the medical instruments supplier's stock valued at $1,034,000 after acquiring an additional 2,592 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WST has been the subject of a number of recent research reports. Rothschild & Co Redburn began coverage on West Pharmaceutical Services in a research note on Monday, September 15th. They issued a "buy" rating and a $311.00 target price for the company. UBS Group raised their price objective on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Redburn Partners set a $311.00 price target on West Pharmaceutical Services in a research report on Monday, September 15th. Rothschild Redb upgraded West Pharmaceutical Services to a "strong-buy" rating in a research note on Monday, September 15th. Finally, Wall Street Zen upgraded 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 Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $318.56.

West Pharmaceutical Services Price Performance

NYSE:WST traded down $0.29 during trading hours on Friday, reaching $254.69. 1,297,599 shares of the company were exchanged, compared to its average volume of 534,419. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.07. The firm has a market cap of $18.31 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 4.52 and a beta of 1.05. The stock's 50-day moving average is $244.20 and its 200-day moving average is $226.41. West Pharmaceutical Services, Inc. has a twelve month low of $187.43 and a twelve month high of $352.33.

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, beating analysts' consensus estimates of $1.51 by $0.33. The firm had revenue of $766.50 million for the quarter, compared to analyst estimates of $725.11 million. West Pharmaceutical Services had a net margin of 16.48% and a return on equity of 18.43%. West Pharmaceutical Services's quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. On average, sell-side analysts anticipate 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 declared 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 annualized dividend and a dividend yield of 0.3%. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, November 12th. West Pharmaceutical Services's payout ratio is currently 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.