Wellington Management Group LLP Increases Stake in West Pharmaceutical Services, Inc. $WST

Key Points

• Wellington Management Group LLP has increased its stake in West Pharmaceutical Services by 102.7% to $3.02 million, now holding 13,494 shares.
• West Pharmaceutical Services reported a quarterly earnings per share of $1.84, exceeding estimates, along with revenue growth of 9.2% year-over-year.
• The company has announced a quarterly dividend increase to $0.22 per share, reflecting a new annualized dividend of $0.88 and a yield of 0.4%.

Wellington Management Group LLP boosted its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 102.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,494 shares of the medical instruments supplier's stock after purchasing an additional 6,838 shares during the quarter. Wellington Management Group LLP's holdings in West Pharmaceutical Services were worth $3,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of WST. Zions Bancorporation National Association UT bought a new stake in West Pharmaceutical Services in the first quarter worth about $25,000. First Horizon Advisors Inc. boosted its holdings 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 valued at $41,000 after acquiring an additional 85 shares during the period. Opal Wealth Advisors LLC bought a new position in West Pharmaceutical Services in the 1st quarter valued at $53,000. Whipplewood Advisors LLC lifted its position 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 worth $58,000 after purchasing an additional 186 shares during the last quarter. Finally, Brooklyn Investment Group boosted its stake in shares of West Pharmaceutical Services by 83.3% during the first quarter. Brooklyn Investment Group now owns 275 shares of the medical instruments supplier's stock valued at $61,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 93.90% of the company's stock.

West Pharmaceutical Services Stock Down 1.3%

NYSE:WST traded down $3.20 during midday trading on Tuesday, reaching $243.75. 405,572 shares of the stock traded hands, compared to its average volume of 831,267. The stock has a market capitalization of $17.53 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 4.38 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 debt-to-equity ratio of 0.07, a quick ratio of 2.08 and a current ratio of 2.78. The business has a 50-day moving average of $235.45 and a two-hundred day moving average of $223.05.

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 EPS for the quarter, beating the consensus estimate of $1.51 by $0.33. The firm had revenue of $766.50 million during 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 18.43%. West Pharmaceutical Services's revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. On average, equities analysts forecast that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on WST. Evercore ISI upped their target price on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. UBS Group increased their price objective on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. 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 research report on Saturday, July 26th. Finally, Barclays started coverage on West Pharmaceutical Services in a report on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.