Summit Financial LLC Takes Position in West Pharmaceutical Services, Inc. $WST

Key Points

• Summit Financial LLC acquired a new stake in West Pharmaceutical Services, buying 10,834 shares valued at approximately $2.43 million.
• West Pharmaceutical Services has received multiple ratings upgrades from analysts, with price targets raised by Evercore ISI to $350 and by UBS Group to $320.
• The company recently declared a quarterly dividend of $0.22 per share, increasing from the previous quarter’s dividend of $0.21, with a yield of 0.4%.

Summit Financial LLC purchased a new stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 10,834 shares of the medical instruments supplier's stock, valued at approximately $2,426,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Zions Bancorporation National Association UT acquired a new stake in shares of West Pharmaceutical Services in the 1st quarter worth $25,000. First Horizon Advisors Inc. lifted its position in West Pharmaceutical Services by 85.0% during 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 during the period. Opal Wealth Advisors LLC acquired a new stake in West Pharmaceutical Services during the 1st quarter worth about $53,000. Whipplewood Advisors LLC lifted its position in West Pharmaceutical Services by 248.0% during 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 during the period. Finally, Brooklyn Investment Group lifted its position in West Pharmaceutical Services by 83.3% during the 1st quarter. Brooklyn Investment Group now owns 275 shares of the medical instruments supplier's stock worth $61,000 after acquiring an additional 125 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

West Pharmaceutical Services Price Performance

Shares of West Pharmaceutical Services stock traded up $1.67 on Wednesday, hitting $246.17. The company's stock had a trading volume of 288,626 shares, compared to its average volume of 835,717. 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 1 year low of $187.43 and a 1 year high of $352.33. The firm has a fifty day moving average price of $233.11 and a 200-day moving average price of $224.26. The company has a market capitalization of $17.70 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 4.39 and a beta of 1.05.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $725.11 million. During the same period in the previous year, the business earned $1.52 EPS. West Pharmaceutical Services's quarterly revenue 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. As a group, sell-side analysts anticipate that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.22 per share. This is an increase from West Pharmaceutical Services's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, November 12th. This represents a $0.88 annualized dividend and a yield of 0.4%. West Pharmaceutical Services's dividend payout ratio (DPR) is presently 12.57%.

Analyst Upgrades and Downgrades

A number of analysts have commented on WST shares. UBS Group lifted their price target on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Barclays started 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 for the company. Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a research report on Thursday, May 22nd. Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Evercore ISI boosted their price objective on West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, West Pharmaceutical Services presently has an average rating of "Moderate Buy" and an average 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.