M&T Bank Corp Lowers Position in West Pharmaceutical Services, Inc. (NYSE:WST)

M&T Bank Corp cut its stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,000 shares of the medical instruments supplier's stock after selling 1,474 shares during the quarter. M&T Bank Corp owned 0.11% of West Pharmaceutical Services worth $17,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of West Pharmaceutical Services by 85.0% in 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. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of West Pharmaceutical Services in the fourth quarter worth approximately $74,000. Opal Wealth Advisors LLC purchased a new stake in shares of West Pharmaceutical Services in the first quarter worth approximately $53,000. Whipplewood Advisors LLC raised 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 worth $58,000 after purchasing an additional 186 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of West Pharmaceutical Services by 38.5% in the first quarter. Exchange Traded Concepts LLC now owns 331 shares of the medical instruments supplier's stock worth $74,000 after purchasing an additional 92 shares during the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

West Pharmaceutical Services Stock Performance

NYSE:WST opened at $220.69 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.77 and a quick ratio of 2.03. The business has a fifty day simple moving average of $216.08 and a two-hundred day simple moving average of $247.76. West Pharmaceutical Services, Inc. has a 1 year low of $187.43 and a 1 year high of $352.33. The company has a market capitalization of $15.86 billion, a P/E ratio of 34.65, a P/E/G ratio of 5.45 and a beta of 1.09.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last released its earnings results on Thursday, April 24th. The medical instruments supplier reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.23. West Pharmaceutical Services had a return on equity of 18.23% and a net margin of 16.13%. The business had revenue of $698.00 million during the quarter, compared to the consensus estimate of $685.24 million. During the same period last year, the business posted $1.56 earnings per share. The business's revenue for the quarter was up .4% on a year-over-year basis. On average, analysts expect that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current year.

West Pharmaceutical Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 30th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Wednesday, July 30th. West Pharmaceutical Services's payout ratio is currently 13.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore ISI assumed coverage on West Pharmaceutical Services in a report on Tuesday, March 18th. They issued an "outperform" rating and a $275.00 target price for the company. Barclays assumed coverage on West Pharmaceutical Services in a report on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 target price for the company. Stephens raised West Pharmaceutical Services to a "strong-buy" rating in a report on Monday, April 21st. Finally, Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $320.00.

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.

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