Prudential PLC Buys 6,443 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Prudential PLC increased its stake in West Pharmaceutical Services, Inc. by 38.2%, owning 23,306 shares valued at $5.2 million after purchasing an additional 6,443 shares in the first quarter.
• West Pharmaceutical Services reported earnings of $1.84 per share, exceeding analyst expectations, with quarterly revenue of $766.5 million, reflecting a 9.2% increase year-over-year.
• The company announced an increase in its quarterly dividend from $0.21 to $0.22 per share, representing a 0.4% yield for investors.

Prudential PLC increased its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 38.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,306 shares of the medical instruments supplier's stock after acquiring an additional 6,443 shares during the period. Prudential PLC's holdings in West Pharmaceutical Services were worth $5,218,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WST. Resona Asset Management Co. Ltd. boosted its position in shares of West Pharmaceutical Services by 5.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 28,883 shares of the medical instruments supplier's stock worth $6,451,000 after purchasing an additional 1,563 shares during the last quarter. Callan Family Office LLC raised its stake in West Pharmaceutical Services by 18.9% during the 1st quarter. Callan Family Office LLC now owns 1,973 shares of the medical instruments supplier's stock worth $442,000 after buying an additional 314 shares during the period. Public Sector Pension Investment Board raised its stake in shares of West Pharmaceutical Services by 8.4% in the 1st quarter. Public Sector Pension Investment Board now owns 9,899 shares of the medical instruments supplier's stock valued at $2,216,000 after purchasing an additional 768 shares during the period. Motley Fool Wealth Management LLC acquired a new stake in shares of West Pharmaceutical Services in the 1st quarter valued at about $7,406,000. Finally, Nuveen LLC acquired a new stake in shares of West Pharmaceutical Services in the 1st quarter valued at about $79,255,000. 93.90% of the stock is currently owned by institutional investors.

West Pharmaceutical Services Stock Performance

West Pharmaceutical Services stock traded down $0.04 during mid-day trading on Friday, reaching $246.16. The company's stock had a trading volume of 781,012 shares, compared to its average volume of 876,536. The firm's fifty day moving average price is $230.05 and its two-hundred day moving average price is $229.36. The company has a market capitalization of $17.70 billion, a P/E ratio of 36.85, a PEG ratio of 4.36 and a beta of 1.05. 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 12-month low of $187.43 and a 12-month high of $352.33.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.33. The business had revenue of $766.50 million during the quarter, compared to the consensus estimate of $725.11 million. West Pharmaceutical Services had a net margin of 16.48% and a return on equity of 18.43%. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 earnings per share. Sell-side analysts predict that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.4%. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, November 12th. West Pharmaceutical Services's payout ratio is currently 12.57%.

Wall Street Analyst Weigh In

WST has been the topic of a number of recent research reports. Barclays started coverage on West Pharmaceutical Services in a research report on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 target price on the stock. Evercore ISI boosted their price objective on West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. UBS Group boosted their price objective on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Stephens upgraded West Pharmaceutical Services to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Citigroup restated a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, West Pharmaceutical Services has a consensus rating of "Moderate Buy" and an average price target of $320.71.

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.