Hsbc Holdings PLC Has $30.68 Million Stake in West Pharmaceutical Services, Inc. $WST

Key Points

• Hsbc Holdings PLC reduced its stake in West Pharmaceutical Services by 2.5%, owning approximately $30.68 million worth of the company's shares after selling 3,458 shares.
• Analysts have a generally positive outlook on West Pharmaceutical Services, with Citigroup reaffirming a "buy" rating and UBS Group raising its price objective from $285.00 to $320.00.
• West Pharmaceutical Services reported a 9.2% year-over-year increase in revenue, with earnings of $1.84 per share, exceeding consensus estimates by $0.33.

Hsbc Holdings PLC lessened its holdings in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,318 shares of the medical instruments supplier's stock after selling 3,458 shares during the quarter. Hsbc Holdings PLC owned approximately 0.19% of West Pharmaceutical Services worth $30,684,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in West Pharmaceutical Services in the first quarter worth $1,148,000. Wellington Management Group LLP boosted its holdings in West Pharmaceutical Services by 102.7% in the first quarter. Wellington Management Group LLP now owns 13,494 shares of the medical instruments supplier's stock worth $3,021,000 after purchasing an additional 6,838 shares during the period. Korea Investment CORP boosted its holdings in West Pharmaceutical Services by 35.9% in the first quarter. Korea Investment CORP now owns 24,962 shares of the medical instruments supplier's stock worth $5,588,000 after purchasing an additional 6,600 shares during the period. Brooklyn Investment Group boosted its holdings in West Pharmaceutical Services by 83.3% in the first quarter. Brooklyn Investment Group now owns 275 shares of the medical instruments supplier's stock worth $61,000 after purchasing an additional 125 shares during the period. Finally, Corient IA LLC acquired a new position in shares of West Pharmaceutical Services during the first quarter valued at $402,000. Institutional investors and hedge funds own 93.90% of the company's stock.

Analyst Ratings Changes

WST has been the subject of several analyst reports. Barclays began coverage on shares of West Pharmaceutical Services in a report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 price target for the company. UBS Group lifted their target price 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. Evercore ISI boosted their price target 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. Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Citigroup reissued a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $320.71.

West Pharmaceutical Services Stock Performance

West Pharmaceutical Services stock traded down $2.57 during trading hours on Thursday, reaching $243.40. 139,932 shares of the company were exchanged, compared to its average volume of 831,982. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 4.34 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. The stock has a 50-day moving average of $233.67 and a 200 day moving average of $224.41. West Pharmaceutical Services, Inc. has a 12 month low of $187.43 and a 12 month 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 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.33. West Pharmaceutical Services had a return on equity of 18.43% and a net margin of 16.48%.The company had revenue of $766.50 million during the quarter, compared to analyst estimates of $725.11 million. During the same period in the previous year, the company earned $1.52 earnings per share. The company's quarterly revenue 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. As a group, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis 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 presently 12.57%.

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.