Nemes Rush Group LLC Makes New $1.23 Million Investment in West Pharmaceutical Services, Inc. $WST

Key Points

• Nemes Rush Group LLC opened a $1.23 million position in West Pharmaceutical Services, buying 3,312 shares in the third quarter. Institutional investors collectively own 93.9% of the company.
• West reported quarterly EPS of $2.66, beating estimates by $0.46, while revenue rose 8.7% year over year to $874.5 million. The company also raised its quarterly dividend from $0.22 to $0.26 per share.
• Analyst sentiment is broadly positive: 13 analysts rate WST a Buy and one a Hold, with an average price target of $424.67. Shares opened at $413.30 in the article’s cited session.

Nemes Rush Group LLC purchased a new stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund purchased 3,312 shares of the medical instruments supplier's stock, valued at approximately $1,228,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Evergreen Capital Management LLC boosted its position in shares of West Pharmaceutical Services by 2.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 1,131 shares of the medical instruments supplier's stock valued at $419,000 after acquiring an additional 28 shares during the last quarter. Greenleaf Trust increased its position in West Pharmaceutical Services by 4.1% in the second quarter. Greenleaf Trust now owns 843 shares of the medical instruments supplier's stock worth $303,000 after purchasing an additional 33 shares during the last quarter. Wealth Alliance LLC increased its position in West Pharmaceutical Services by 3.8% in the first quarter. Wealth Alliance LLC now owns 945 shares of the medical instruments supplier's stock worth $237,000 after purchasing an additional 35 shares during the last quarter. 55 North Private Wealth LLC increased its position in West Pharmaceutical Services by 5.4% in the third quarter. 55 North Private Wealth LLC now owns 708 shares of the medical instruments supplier's stock worth $262,000 after purchasing an additional 36 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in West Pharmaceutical Services by 4.1% during the third quarter. D.A. Davidson & CO. now owns 909 shares of the medical instruments supplier's stock valued at $337,000 after purchasing an additional 36 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors.

West Pharmaceutical Services Stock Up 3.4%

Shares of WST opened at $413.30 on Tuesday. The company has a market cap of $28.79 billion, a PE ratio of 46.39, a P/E/G ratio of 2.48 and a beta of 1.13. The business has a fifty day moving average of $374.56 and a 200 day moving average of $317.40. West Pharmaceutical Services, Inc. has a 52-week low of $223.83 and a 52-week high of $438.27. The company has a quick ratio of 2.10, a current ratio of 2.82 and a debt-to-equity ratio of 0.07.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The medical instruments supplier reported $2.66 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.46. West Pharmaceutical Services had a net margin of 18.81% and a return on equity of 21.78%. The business had revenue of $874.50 million for the quarter, compared to analysts' expectations of $827.12 million. During the same quarter in the previous year, the business posted $1.96 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts expect that West Pharmaceutical Services, Inc. will post 9.46 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Wednesday, November 11th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, November 10th. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.22. West Pharmaceutical Services's payout ratio is currently 9.88%.

Insiders Place Their Bets

In related news, VP Annette Favorite sold 2,524 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $365.00, for a total value of $921,260.00. Following the sale, the vice president directly owned 21,818 shares of the company's stock, valued at $7,963,570. This represents a 10.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 15,659 shares of company stock valued at $5,443,749. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WST. Barclays increased their price objective on shares of West Pharmaceutical Services from $440.00 to $500.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. BNP Paribas Exane began coverage on shares of West Pharmaceutical Services in a research report on Monday, July 13th. They set an "outperform" rating and a $447.00 target price on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $475.00 price target on shares of West Pharmaceutical Services in a report on Monday, November 2nd. Morgan Stanley upgraded West Pharmaceutical Services from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $365.00 to $400.00 in a research report on Tuesday, September 22nd. Finally, Wall Street Zen upgraded West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Sunday, November 1st. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $424.67.

West Pharmaceutical Services Company Profile

West Pharmaceutical Services designs and manufactures packaging components and delivery systems used by the pharmaceutical, biotechnology, and medical device industries. Its products help contain and administer injectable medicines and include elastomeric components, such as stoppers and seals, as well as syringe components and other packaging and delivery solutions.

The company also provides contract manufacturing services for medical devices and pharmaceutical delivery systems. Its customers include companies developing and producing branded, generic, and biologic medicines.

Founded in 1923 by Herman O.

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