Northern Trust Corp Sells 10,602 Shares of West Pharmaceutical Services, Inc. $WST

Key Points

• Northern Trust Corp has decreased its holdings in West Pharmaceutical Services by 1.4%, selling 10,602 shares during the first quarter, and now holds approximately 1.06% of the company valued at $169.76 million.
• West Pharmaceutical Services reported a 9.2% year-over-year increase in quarterly revenue, with earnings per share of $1.84 surpassing analysts' expectations of $1.51.
• The company has announced a dividend increase, raising the quarterly payment from $0.21 to $0.22, with a yield of 0.4% and a payout ratio of 12.57%.

Northern Trust Corp reduced its holdings in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 758,246 shares of the medical instruments supplier's stock after selling 10,602 shares during the quarter. Northern Trust Corp owned about 1.06% of West Pharmaceutical Services worth $169,756,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new stake in West Pharmaceutical Services during the 1st quarter valued at about $25,000. First Horizon Advisors Inc. raised its position in shares of West Pharmaceutical Services by 85.0% in the 1st quarter. First Horizon Advisors Inc. now owns 185 shares of the medical instruments supplier's stock worth $41,000 after acquiring an additional 85 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of West Pharmaceutical Services in the 1st quarter worth approximately $53,000. Whipplewood Advisors LLC raised its position in shares of West Pharmaceutical Services by 248.0% in the 1st quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock worth $58,000 after acquiring an additional 186 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of West Pharmaceutical Services by 83.3% in the 1st quarter. Brooklyn Investment Group now owns 275 shares of the medical instruments supplier's stock worth $61,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company's stock.

West Pharmaceutical Services Stock Performance

Shares of NYSE:WST opened at $242.3370 on Friday. The company has a market capitalization of $17.43 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 4.37 and a beta of 1.05. West Pharmaceutical Services, Inc. has a 52 week low of $187.43 and a 52 week high of $352.33. 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 firm has a 50 day moving average of $231.62 and a 200 day moving average of $226.71.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.33. The business had revenue of $766.50 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 earnings per share. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. On average, sell-side analysts predict that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The firm 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. 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 dividend payout ratio is currently 12.57%.

Analyst Ratings Changes

Several brokerages have commented on WST. Citigroup reiterated a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. UBS Group raised their target price on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Evercore ISI raised their target price on West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Barclays initiated coverage on West Pharmaceutical Services in a report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 price target on the stock. Finally, Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $320.71.

About West Pharmaceutical Services

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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