Rockland Trust Co. Boosts Stake in West Pharmaceutical Services, Inc. $WST

Key Points

• Rockland Trust Co. has increased its stake in West Pharmaceutical Services, Inc. by 20.5%, owning a total of 77,979 shares valued at approximately $17.06 million.
• West Pharmaceutical Services reported quarterly earnings of $1.84 per share, exceeding analyst expectations, with revenue of $766.5 million, reflecting a 9.2% year-over-year growth.
• The company has announced a quarterly dividend of $0.22 per share, an increase from the previous $0.21, indicating a commitment to returning value to shareholders.

Rockland Trust Co. lifted its position in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 20.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,979 shares of the medical instruments supplier's stock after purchasing an additional 13,255 shares during the quarter. Rockland Trust Co. owned about 0.11% of West Pharmaceutical Services worth $17,062,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of West Pharmaceutical Services in the first quarter worth about $329,000. DAVENPORT & Co LLC raised its stake in shares of West Pharmaceutical Services by 103.8% in the first quarter. DAVENPORT & Co LLC now owns 2,230 shares of the medical instruments supplier's stock worth $499,000 after purchasing an additional 1,136 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of West Pharmaceutical Services by 34.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 5,581 shares of the medical instruments supplier's stock worth $1,249,000 after purchasing an additional 1,437 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of West Pharmaceutical Services by 106.5% in the first quarter. Polar Asset Management Partners Inc. now owns 53,070 shares of the medical instruments supplier's stock worth $11,881,000 after purchasing an additional 27,370 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of West Pharmaceutical Services by 43.7% in the first quarter. Bessemer Group Inc. now owns 1,075 shares of the medical instruments supplier's stock worth $241,000 after purchasing an additional 327 shares during the last quarter. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

West Pharmaceutical Services Trading Down 0.1%

NYSE WST traded down $0.29 on Friday, reaching $254.69. 1,297,599 shares of the company were exchanged, compared to its average volume of 534,419. The business's fifty day moving average price is $244.20 and its 200 day moving average price is $226.44. The stock has a market capitalization of $18.31 billion, a P/E ratio of 38.13, a price-to-earnings-growth ratio of 4.52 and a beta of 1.05. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a fifty-two week low of $187.43 and a fifty-two week high of $352.33.

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

West Pharmaceutical Services Increases Dividend

The firm 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 $0.22 dividend. This is an increase from West Pharmaceutical Services's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, November 12th. West Pharmaceutical Services's dividend payout ratio (DPR) is presently 12.57%.

Analyst Ratings Changes

WST has been the subject of several recent research reports. Rothschild Redb upgraded West Pharmaceutical Services to a "strong-buy" rating in a research report on Monday. Redburn Partners set a $311.00 price objective on West Pharmaceutical Services in a report on Monday. Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. Evercore ISI lifted their price target 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. Finally, Barclays assumed coverage on West Pharmaceutical Services in a research note on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $318.56.

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.