ING Groep NV Has $489,000 Stock Position in West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• ING Groep NV reduced its stake in West Pharmaceutical Services by 56.7%, holding 2,186 shares valued at $489,000 as of its latest SEC filing.
• West Pharmaceutical Services reported a 9.2% year-over-year revenue increase with earnings per share (EPS) of $1.84, surpassing estimates by $0.33.
• The company announced a quarterly dividend increase to $0.22 per share, marking a positive change from the previous $0.21, with a dividend yield of 0.4%.

ING Groep NV trimmed its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 56.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,186 shares of the medical instruments supplier's stock after selling 2,857 shares during the period. ING Groep NV's holdings in West Pharmaceutical Services were worth $489,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. First Horizon Advisors Inc. lifted its stake 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 acquiring an additional 85 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in West Pharmaceutical Services in the 1st quarter worth about $53,000. Whipplewood Advisors LLC lifted its stake 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 acquiring an additional 186 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in West Pharmaceutical Services by 38.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 331 shares of the medical instruments supplier's stock worth $74,000 after acquiring an additional 92 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in West Pharmaceutical Services by 229.7% in the 1st quarter. Allworth Financial LP now owns 455 shares of the medical instruments supplier's stock worth $96,000 after acquiring an additional 317 shares in the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

West Pharmaceutical Services Stock Up 0.3%

WST stock traded up $0.76 during mid-day trading on Friday, hitting $241.30. The stock had a trading volume of 445,204 shares, compared to its average volume of 887,061. 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 market capitalization of $17.35 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 4.26 and a beta of 1.05. The company has a fifty day moving average of $227.16 and a 200 day moving average of $232.85. West Pharmaceutical Services, Inc. has a 1-year low of $187.43 and a 1-year high of $352.33.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.33. The business had revenue of $766.50 million for 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 firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 EPS. On average, equities analysts expect that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's payout ratio is currently 12.57%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WST. Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Stephens raised West Pharmaceutical Services to a "strong-buy" rating in a research note on Monday, April 21st. Citigroup reissued a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. Evercore ISI upped their target price on West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, UBS Group upped their target price on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $320.71.

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.