Mizuho Securities USA LLC Sells 1,065 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Mizuho Securities USA LLC reduced its position in West Pharmaceutical Services by 15.5%, owning 5,799 shares valued at approximately $1.30 million after selling 1,065 shares in the first quarter.
• West Pharmaceutical Services announced a quarterly dividend increase to $0.22 per share, with a dividend yield of 0.4%, reflecting a positive change from its previous dividend of $0.21.
• Analysts have issued a consensus rating of "Moderate Buy" for West Pharmaceutical Services, with an average price target of $320.71, following recent target price upgrades from several firms.

Mizuho Securities USA LLC cut its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 15.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,799 shares of the medical instruments supplier's stock after selling 1,065 shares during the period. Mizuho Securities USA LLC's holdings in West Pharmaceutical Services were worth $1,298,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Zions Bancorporation National Association UT bought a new stake in West Pharmaceutical Services during the 1st quarter worth $25,000. First Horizon Advisors Inc. grew its holdings in shares of West Pharmaceutical Services by 85.0% during the first 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 last quarter. Opal Wealth Advisors LLC bought a new stake in shares of West Pharmaceutical Services during the first quarter worth about $53,000. Whipplewood Advisors LLC increased its stake in shares of West Pharmaceutical Services by 248.0% in the first quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock valued at $58,000 after buying an additional 186 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings 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 valued at $74,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WST shares. Citigroup restated a "buy" rating on shares of West Pharmaceutical Services in a research report on Thursday, May 22nd. Wall Street Zen upgraded West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Barclays started coverage on West Pharmaceutical Services in a research note on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 price target for the company. Stephens raised West Pharmaceutical Services to a "strong-buy" rating in a research note on Monday, April 21st. Finally, UBS Group increased their target price on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $320.71.

West Pharmaceutical Services Trading Down 0.0%

Shares of WST stock traded down $0.04 during trading hours on Friday, hitting $246.16. 781,012 shares of the company were exchanged, compared to its average volume of 854,485. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.08 and a current ratio of 2.78. West Pharmaceutical Services, Inc. has a fifty-two week low of $187.43 and a fifty-two week high of $352.33. The company has a 50 day simple moving average of $229.61 and a two-hundred day simple moving average of $230.03. The firm has a market cap of $17.70 billion, a P/E ratio of 36.85, a P/E/G ratio of 4.36 and a beta of 1.05.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced 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. West Pharmaceutical Services had a return on equity of 18.43% and a net margin of 16.48%. The firm had revenue of $766.50 million during the quarter, compared to analysts' expectations of $725.11 million. During the same quarter last year, the firm posted $1.52 earnings per share. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. Equities analysts anticipate that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders 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 yield of 0.4%. This is an increase from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's dividend payout ratio is presently 12.57%.

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.