Victory Capital Management Inc. Sells 16,247 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Victory Capital Management Inc. reduced its stake in West Pharmaceutical Services by 33.8%, selling 16,247 shares and retaining a total of 31,777 shares worth approximately $7.1 million.
• West Pharmaceutical Services reported strong earnings for the last quarter, posting $1.84 earnings per share, exceeding analysts' expectations of $1.51, and showing a 9.2% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.22 per share, representing an increase from the previous dividend of $0.21, and a dividend yield of 0.33%.

Victory Capital Management Inc. reduced its stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 33.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,777 shares of the medical instruments supplier's stock after selling 16,247 shares during the period. Victory Capital Management Inc.'s holdings in West Pharmaceutical Services were worth $7,114,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WST. First Horizon Advisors Inc. increased its stake in West Pharmaceutical Services by 85.0% in the first quarter. First Horizon Advisors Inc. now owns 185 shares of the medical instruments supplier's stock valued at $41,000 after purchasing an additional 85 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of West Pharmaceutical Services during the first quarter valued at about $53,000. Whipplewood Advisors LLC grew its holdings in shares of West Pharmaceutical Services by 248.0% during the first quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock valued at $58,000 after buying an additional 186 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of West Pharmaceutical Services during the fourth quarter valued at about $74,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of West Pharmaceutical Services by 38.5% during the first quarter. Exchange Traded Concepts LLC now owns 331 shares of the medical instruments supplier's stock valued at $74,000 after buying an additional 92 shares during the last quarter. 93.90% of the stock is owned by institutional investors.

West Pharmaceutical Services Stock Performance

West Pharmaceutical Services stock opened at $263.32 on Friday. The firm's 50 day simple moving average is $220.56 and its 200 day simple moving average is $239.22. The company has a current ratio of 2.77, a quick ratio of 2.03 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $18.92 billion, a PE ratio of 39.42, a price-to-earnings-growth ratio of 6.28 and a beta of 1.09. West Pharmaceutical Services, Inc. has a 1-year low of $187.43 and a 1-year high of $352.33.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its 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 analyst estimates of $725.11 million. West Pharmaceutical Services had a net margin of 16.48% and a return on equity of 18.81%. West Pharmaceutical Services's revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's dividend payout ratio is 13.19%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stephens upgraded shares of West Pharmaceutical Services to a "strong-buy" rating in a report on Monday, April 21st. Wall Street Zen upgraded shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup reiterated a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Barclays assumed coverage on shares of West Pharmaceutical Services in a report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 price objective for the company. Finally, UBS Group lifted their price objective on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a report on Friday. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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