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Sound Financial Strategies Group LLC Acquires New Shares in West Pharmaceutical Services, Inc. (NYSE:WST)

West Pharmaceutical Services logo with Medical background

Key Points

  • Sound Financial Strategies Group LLC has acquired 2,428 shares of West Pharmaceutical Services, valued at approximately $544,000, highlighting growing interest from institutional investors.
  • West Pharmaceutical Services reported a 9.2% year-over-year revenue increase with quarterly earnings of $1.84 per share, exceeding analysts' expectations.
  • The company recently raised its quarterly dividend to $0.22, representing an annualized dividend yield of 0.4% and illustrating its commitment to returning value to shareholders.
  • Five stocks we like better than West Pharmaceutical Services.

Sound Financial Strategies Group LLC acquired a new stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,428 shares of the medical instruments supplier's stock, valued at approximately $544,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WST. First Horizon Advisors Inc. raised its position in shares of West Pharmaceutical Services by 85.0% in the 1st quarter. First Horizon Advisors Inc. now owns 185 shares of the medical instruments supplier's stock worth $41,000 after acquiring an additional 85 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of West Pharmaceutical Services in the 1st quarter worth about $53,000. Whipplewood Advisors LLC raised its position in shares of West Pharmaceutical Services by 248.0% in the 1st quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock worth $58,000 after acquiring an additional 186 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of West Pharmaceutical Services by 38.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 331 shares of the medical instruments supplier's stock worth $74,000 after acquiring an additional 92 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of West Pharmaceutical Services by 229.7% in the 1st quarter. Allworth Financial LP now owns 455 shares of the medical instruments supplier's stock worth $96,000 after acquiring an additional 317 shares in the last quarter. 93.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. 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 report on Friday, July 25th. Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a research report on Thursday, May 22nd. Barclays began 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 for the company. Finally, UBS Group boosted their target price 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. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $320.71.

Check Out Our Latest Stock Analysis on West Pharmaceutical Services

West Pharmaceutical Services Price Performance

WST stock opened at $239.15 on Friday. The company has a market capitalization of $17.20 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 4.23 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 52-week low of $187.43 and a 52-week high of $352.33. The business has a 50-day simple moving average of $224.19 and a two-hundred day simple moving average of $235.56.

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, beating analysts' consensus estimates 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 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 quarter in the previous year, the business earned $1.52 EPS. Research analysts expect that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be paid 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 boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's dividend payout ratio (DPR) is presently 12.57%.

West Pharmaceutical Services Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for West Pharmaceutical Services (NYSE:WST)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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