Vanguard Group Inc. Buys 244,259 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Vanguard Group Inc. increased its holdings in West Pharmaceutical Services by 2.7%, owning approximately 12.85% of the company, valued at over $2 billion.
• West Pharmaceutical Services reported an EPS of $1.84 last quarter, exceeding analysts' expectations by $0.33, with a revenue increase of 9.2% year-over-year.
• The company announced a quarterly dividend increase to $0.22, reflecting a positive change from the previous dividend of $0.21.

Vanguard Group Inc. boosted its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,231,721 shares of the medical instruments supplier's stock after purchasing an additional 244,259 shares during the period. Vanguard Group Inc. owned about 12.85% of West Pharmaceutical Services worth $2,066,798,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WST. Wellington Management Group LLP grew its holdings in shares of West Pharmaceutical Services by 1.5% during the 4th quarter. Wellington Management Group LLP now owns 6,656 shares of the medical instruments supplier's stock worth $2,180,000 after acquiring an additional 99 shares during the period. Cerity Partners LLC lifted its position in West Pharmaceutical Services by 1.7% in the 4th quarter. Cerity Partners LLC now owns 5,384 shares of the medical instruments supplier's stock valued at $1,653,000 after acquiring an additional 90 shares in the last quarter. Bessemer Group Inc. lifted its position in West Pharmaceutical Services by 11.8% in the 4th quarter. Bessemer Group Inc. now owns 748 shares of the medical instruments supplier's stock valued at $245,000 after acquiring an additional 79 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of West Pharmaceutical Services by 6.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 37,248 shares of the medical instruments supplier's stock valued at $12,201,000 after buying an additional 2,390 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in shares of West Pharmaceutical Services by 2.7% during the 4th quarter. Sterling Capital Management LLC now owns 17,868 shares of the medical instruments supplier's stock valued at $5,853,000 after buying an additional 473 shares during the period. Hedge funds and other institutional investors own 93.90% of the company's stock.

West Pharmaceutical Services Trading Down 0.2%

WST traded down $0.56 on Tuesday, hitting $239.77. The company had a trading volume of 364,503 shares, compared to its average volume of 888,526. The company has a market cap of $17.24 billion, a PE ratio of 35.89, a PEG ratio of 4.25 and a beta of 1.05. West Pharmaceutical Services, Inc. has a 12-month low of $187.43 and a 12-month high of $352.33. 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 business's fifty day simple moving average is $228.36 and its 200 day simple moving average is $230.60.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 16.48% and a return on equity of 18.43%. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 earnings per share. Equities research analysts expect that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.22 per share. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 12th. West Pharmaceutical Services's payout ratio is presently 12.57%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WST. Citigroup restated a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. Evercore ISI increased 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. Stephens raised West Pharmaceutical Services to a "strong-buy" rating in a report on Monday, April 21st. Barclays started coverage on West Pharmaceutical Services in a report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 price target on the stock. Finally, Wall Street Zen raised shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $320.71.

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.