S Bank Fund Management Ltd Makes New $566,000 Investment in West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• S Bank Fund Management Ltd has made a new investment of $566,000 in West Pharmaceutical Services, purchasing 2,528 shares in the first quarter of 2023.
• West Pharmaceutical Services reported earnings of $1.84 per share, exceeding analysts' expectations and showing a 9.2% year-over-year revenue increase to $766.50 million.
• The company announced an increase in its quarterly dividend to $0.22, with a yield of 0.4%, marking a positive change from the previous dividend of $0.21.

S Bank Fund Management Ltd purchased a new position in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,528 shares of the medical instruments supplier's stock, valued at approximately $566,000.

Other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its position in West Pharmaceutical Services by 103.8% during the 1st quarter. DAVENPORT & Co LLC now owns 2,230 shares of the medical instruments supplier's stock worth $499,000 after acquiring an additional 1,136 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in West Pharmaceutical Services by 34.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 5,581 shares of the medical instruments supplier's stock worth $1,249,000 after acquiring an additional 1,437 shares during the period. Bessemer Group Inc. boosted its position in West Pharmaceutical Services by 43.7% during the 1st quarter. Bessemer Group Inc. now owns 1,075 shares of the medical instruments supplier's stock worth $241,000 after acquiring an additional 327 shares during the period. Sivik Global Healthcare LLC acquired a new position in West Pharmaceutical Services during the 1st quarter worth $2,799,000. Finally, State of Alaska Department of Revenue boosted its position in West Pharmaceutical Services by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 8,486 shares of the medical instruments supplier's stock worth $1,899,000 after acquiring an additional 225 shares during the period. Institutional investors and hedge funds own 93.90% of the company's stock.

West Pharmaceutical Services Stock Performance

Shares of NYSE WST opened at $246.38 on Thursday. 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 stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 4.25 and a beta of 1.05. The stock's fifty day simple moving average is $229.05 and its 200 day simple moving average is $230.71. 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 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 analysts' expectations of $725.11 million. West Pharmaceutical Services had a return on equity of 18.43% and a net margin of 16.48%. The company's quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 EPS. As a group, sell-side analysts forecast that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors 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 dividend yield of 0.4%. The ex-dividend date is Wednesday, November 12th. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's payout ratio is presently 13.17%.

Analysts Set New Price Targets

WST has been the topic of several research analyst reports. Wall Street Zen upgraded West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Stephens upgraded West Pharmaceutical Services to a "strong-buy" rating in a research report on Monday, April 21st. Citigroup reiterated a "buy" rating on shares of West Pharmaceutical Services in a research report on Thursday, May 22nd. UBS Group lifted their price target on West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, West Pharmaceutical Services has an average rating of "Moderate Buy" and a consensus target price 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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