West Pharmaceutical Services, Inc. (NYSE:WST) Shares Purchased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in West Pharmaceutical Services, owning 34,091 shares valued at approximately $7.63 million after a 12.7% increase in the first quarter.
• Multiple analysts have upgraded West Pharmaceutical Services, with price targets now ranging from $320 to $350 and an overall consensus rating of "Moderate Buy."
• The company reported $1.84 EPS for the latest quarter, exceeding expectations, alongside a 9.2% increase in revenue year-over-year.

Townsquare Capital LLC grew its holdings in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 12.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,091 shares of the medical instruments supplier's stock after purchasing an additional 3,841 shares during the quarter. Townsquare Capital LLC's holdings in West Pharmaceutical Services were worth $7,632,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of WST. DAVENPORT & Co LLC raised its position in 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 valued at $499,000 after purchasing an additional 1,136 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of West Pharmaceutical Services by 34.7% during 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 in the last quarter. Bessemer Group Inc. grew its stake in shares of West Pharmaceutical Services by 43.7% during 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 in the last quarter. Sivik Global Healthcare LLC acquired a new position in shares of West Pharmaceutical Services during the first quarter worth $2,799,000. Finally, State of Alaska Department of Revenue boosted its stake in West Pharmaceutical Services by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 8,486 shares of the medical instruments supplier's stock valued at $1,899,000 after acquiring an additional 225 shares in the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

West Pharmaceutical Services Stock Performance

NYSE:WST traded down $0.56 during mid-day trading on Tuesday, reaching $239.77. The stock had a trading volume of 364,503 shares, compared to its average volume of 860,874. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.08 and a current ratio of 2.78. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 4.26 and a beta of 1.05. West Pharmaceutical Services, Inc. has a twelve month low of $187.43 and a twelve month high of $352.33. The business has a 50 day simple moving average of $227.78 and a 200 day simple moving average of $230.54.

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 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 revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. On average, analysts expect 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 declared 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. The ex-dividend date is Wednesday, November 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's payout ratio is currently 12.57%.

Wall Street Analyst Weigh In

Several research firms have issued reports on WST. Barclays started coverage on shares of West Pharmaceutical Services in a research note on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 price objective for the company. Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Wall Street Zen raised shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Evercore ISI upped their target price on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, UBS Group upped their target price on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $320.71.

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.