Korea Investment CORP Buys 6,600 Shares of West Pharmaceutical Services, Inc. $WST

Key Points

• Korea Investment CORP increased its stake in West Pharmaceutical Services by 35.9%, owning a total of 24,962 shares worth approximately $5.59 million as of the most recent SEC filing.
• Analysts have a consensus rating of "Moderate Buy" on West Pharmaceutical Services, with price targets set as high as $350 following positive earnings reports that exceeded expectations.
• The company recently announced a quarterly dividend increase to $0.22 per share, boosting its annualized dividend yield to 0.4%.

Korea Investment CORP lifted its stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,962 shares of the medical instruments supplier's stock after purchasing an additional 6,600 shares during the quarter. Korea Investment CORP's holdings in West Pharmaceutical Services were worth $5,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. DAVENPORT & Co LLC raised its position in shares of West Pharmaceutical Services by 103.8% in the 1st quarter. DAVENPORT & Co LLC now owns 2,230 shares of the medical instruments supplier's stock worth $499,000 after purchasing an additional 1,136 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of West Pharmaceutical Services by 34.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 5,581 shares of the medical instruments supplier's stock worth $1,249,000 after purchasing an additional 1,437 shares during the last quarter. Bessemer Group Inc. raised its position in shares of West Pharmaceutical Services by 43.7% in the 1st quarter. Bessemer Group Inc. now owns 1,075 shares of the medical instruments supplier's stock worth $241,000 after purchasing an additional 327 shares during the last quarter. Sivik Global Healthcare LLC purchased a new position in shares of West Pharmaceutical Services in the 1st quarter worth about $2,799,000. Finally, State of Alaska Department of Revenue raised its position in shares of West Pharmaceutical Services by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 8,486 shares of the medical instruments supplier's stock worth $1,899,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 93.90% of the company's stock.

West Pharmaceutical Services Stock Performance

NYSE:WST traded down $2.80 on Thursday, hitting $243.17. The stock had a trading volume of 105,006 shares, compared to its average volume of 831,886. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.07. The business's 50-day simple moving average is $233.67 and its two-hundred day simple moving average is $224.41. 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 announced its earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.33. The business had revenue of $766.50 million for the quarter, compared to analysts' expectations 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 for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. As a group, research analysts predict that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be given a $0.22 dividend. 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. This represents a $0.88 annualized dividend and a yield of 0.4%. West Pharmaceutical Services's payout ratio is 12.57%.

Analyst Ratings Changes

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

West Pharmaceutical Services Company 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.