Rafferty Asset Management LLC Sells 1,513 Shares of West Pharmaceutical Services, Inc. $WST

Key Points

• Rafferty Asset Management LLC reduced its stake in West Pharmaceutical Services by 18.4%, selling 1,513 shares to end the quarter with 6,705 shares valued at $1.5 million.
• West Pharmaceutical reported a quarterly earnings per share (EPS) of $1.84, exceeding expectations, alongside a revenue of $766.50 million, marking a 9.2% increase year-over-year.
• The company announced an increased quarterly dividend of $0.22 per share, up from $0.21, representing a yield of 0.4%.

Rafferty Asset Management LLC decreased its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 18.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,705 shares of the medical instruments supplier's stock after selling 1,513 shares during the period. Rafferty Asset Management LLC's holdings in West Pharmaceutical Services were worth $1,501,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

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

West Pharmaceutical Services Trading Down 0.5%

Shares of NYSE WST traded down $1.20 during mid-day trading on Thursday, reaching $247.75. The company had a trading volume of 621,318 shares, compared to its average volume of 829,003. The business's 50-day moving average is $236.41 and its 200-day moving average is $223.36. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.07. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 4.38 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.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last issued its earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.33. West Pharmaceutical Services had a net margin of 16.48% and a return on equity of 18.43%. The business had revenue of $766.50 million for the quarter, compared to the consensus estimate of $725.11 million. During the same period in the prior year, the firm earned $1.52 EPS. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. Equities analysts expect that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.22 per share. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $0.88 annualized dividend and a yield of 0.4%. West Pharmaceutical Services's payout ratio is 13.17%.

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.