National Bank of Canada FI Boosts Stake in West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• The National Bank of Canada FI increased its holdings in West Pharmaceutical Services, Inc. by 60.3% in the 1st quarter, owning shares worth $12.38 million at the end of the period.
• West Pharmaceutical Services recently reported quarterly earnings of $1.84 EPS, exceeding analysts' estimates and showing a 9.2% year-over-year revenue increase.
• The company has recently declared a dividend increase from $0.21 to $0.22 per share, representing a $0.88 annualized yield.

National Bank of Canada FI grew its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 60.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,304 shares of the medical instruments supplier's stock after buying an additional 20,805 shares during the quarter. National Bank of Canada FI owned 0.08% of West Pharmaceutical Services worth $12,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cerity Partners LLC raised its stake in shares of West Pharmaceutical Services by 1.7% in the fourth quarter. Cerity Partners LLC now owns 5,384 shares of the medical instruments supplier's stock worth $1,653,000 after purchasing an additional 90 shares during the last quarter. Bessemer Group Inc. lifted its stake in West Pharmaceutical Services by 11.8% during the 4th quarter. Bessemer Group Inc. now owns 748 shares of the medical instruments supplier's stock valued at $245,000 after acquiring an additional 79 shares in the last quarter. Mariner LLC lifted its stake in West Pharmaceutical Services by 1.6% during the 4th quarter. Mariner LLC now owns 11,666 shares of the medical instruments supplier's stock valued at $3,821,000 after acquiring an additional 183 shares in the last quarter. XTX Topco Ltd boosted its holdings in West Pharmaceutical Services by 9.7% during the 4th quarter. XTX Topco Ltd now owns 1,167 shares of the medical instruments supplier's stock worth $382,000 after acquiring an additional 103 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of West Pharmaceutical Services in the 4th quarter worth $434,000. 93.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WST. Wall Street Zen raised shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group lifted their target price on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Evercore ISI boosted their target price on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Citigroup reiterated a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. Finally, Barclays assumed coverage on West Pharmaceutical Services in a research report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 price target on the stock. Two 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $320.71.

West Pharmaceutical Services Price Performance

WST traded up $0.07 during trading on Thursday, reaching $246.29. 365,815 shares of the company were exchanged, compared to its average volume of 854,962. West Pharmaceutical Services, Inc. has a 12-month low of $187.43 and a 12-month high of $352.33. The company's 50-day moving average is $229.05 and its two-hundred day moving average is $230.71. 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 company has a market cap of $17.71 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 4.25 and a beta of 1.05.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $725.11 million. During the same period in the prior year, the business posted $1.52 earnings per share. The company's revenue was up 9.2% on a year-over-year basis. Research analysts forecast that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.4%. 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. West Pharmaceutical Services's payout ratio is 13.17%.

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.