Riverbridge Partners LLC Trims Stock Holdings in West Pharmaceutical Services, Inc. $WST

Key Points

• Riverbridge Partners LLC reduced its stake in West Pharmaceutical Services by 6.1%, owning 383,520 shares after selling 24,886 shares in the second quarter.
• Multiple hedge funds, including Durable Capital Partners and Brown Advisory, have significantly increased their positions in West Pharmaceutical Services, indicating strong institutional interest.
• West Pharmaceutical Services announced an increase in its quarterly dividend to $0.22 per share, reflecting a boost from its previous dividend of $0.21.

Riverbridge Partners LLC trimmed its holdings in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 6.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 383,520 shares of the medical instruments supplier's stock after selling 24,886 shares during the period. West Pharmaceutical Services makes up 1.4% of Riverbridge Partners LLC's investment portfolio, making the stock its 27th biggest holding. Riverbridge Partners LLC owned approximately 0.53% of West Pharmaceutical Services worth $83,914,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WST. Durable Capital Partners LP grew its position in shares of West Pharmaceutical Services by 146.8% during the 1st quarter. Durable Capital Partners LP now owns 1,573,119 shares of the medical instruments supplier's stock valued at $352,190,000 after purchasing an additional 935,721 shares in the last quarter. Brown Advisory Inc. grew its position in shares of West Pharmaceutical Services by 28.1% during the 1st quarter. Brown Advisory Inc. now owns 3,268,478 shares of the medical instruments supplier's stock valued at $731,747,000 after purchasing an additional 716,442 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of West Pharmaceutical Services by 57.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 997,882 shares of the medical instruments supplier's stock valued at $223,406,000 after purchasing an additional 365,575 shares in the last quarter. Nuveen LLC purchased a new position in shares of West Pharmaceutical Services during the 1st quarter valued at $79,255,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of West Pharmaceutical Services by 43.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,134,706 shares of the medical instruments supplier's stock valued at $254,038,000 after purchasing an additional 343,997 shares in the last quarter. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WST. UBS Group boosted their price target on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wall Street Zen upgraded West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Barclays initiated 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. Evercore ISI raised their price target on West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Redburn Partners set a $311.00 price target on West Pharmaceutical Services in a research report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, West Pharmaceutical Services currently has a consensus rating of "Buy" and a consensus price target of $318.56.

West Pharmaceutical Services Price Performance

WST stock opened at $259.70 on Thursday. West Pharmaceutical Services, Inc. has a 1 year low of $187.43 and a 1 year high of $352.33. The company has a market cap of $18.68 billion, a P/E ratio of 38.88, a PEG ratio of 4.45 and a beta of 1.05. The firm has a 50-day moving average of $246.06 and a 200 day moving average of $226.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.78 and a quick ratio of 2.08.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last released 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 company 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%. West Pharmaceutical Services's revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $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 forecast that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.3%. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, November 12th. West Pharmaceutical Services's dividend payout ratio is currently 12.57%.

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.

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