West Pharmaceutical Services, Inc. (NYSE:WST) Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in West Pharmaceutical Services by 71.7%, now owning approximately 0.11% of the company valued at $16.93 million.
• West Pharmaceutical Services reported Q2 earnings of $1.84 per share, exceeding analysts' expectations of $1.51, alongside a 9.2% year-over-year revenue increase to $766.50 million.
• The company has announced an increase in its quarterly dividend from $0.21 to $0.22 per share, with a yield of 0.4% for shareholders of record on November 12th.

Russell Investments Group Ltd. lifted its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 71.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,660 shares of the medical instruments supplier's stock after buying an additional 31,596 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of West Pharmaceutical Services worth $16,927,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new stake in West Pharmaceutical Services during the 1st quarter worth about $25,000. First Horizon Advisors Inc. lifted its holdings in shares of West Pharmaceutical Services by 85.0% during the first quarter. First Horizon Advisors Inc. now owns 185 shares of the medical instruments supplier's stock worth $41,000 after purchasing an additional 85 shares during the period. Opal Wealth Advisors LLC purchased a new stake in West Pharmaceutical Services in the first quarter valued at approximately $53,000. Whipplewood Advisors LLC boosted its position in West Pharmaceutical Services by 248.0% in 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. Finally, Exchange Traded Concepts LLC increased its holdings in West Pharmaceutical Services by 38.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 331 shares of the medical instruments supplier's stock worth $74,000 after buying an additional 92 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.

West Pharmaceutical Services Trading Down 0.0%

WST stock opened at $246.16 on Friday. West Pharmaceutical Services, Inc. has a 52-week low of $187.43 and a 52-week 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 firm has a market cap of $17.70 billion, a P/E ratio of 36.85, a PEG ratio of 4.36 and a beta of 1.05. The company's 50-day simple moving average is $230.05 and its 200-day simple moving average is $228.59.

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. 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 analysts' expectations of $725.11 million. During the same quarter in the prior year, the firm posted $1.52 EPS. West Pharmaceutical Services's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts forecast that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The business also recently disclosed 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. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, November 12th. West Pharmaceutical Services's dividend payout ratio (DPR) is currently 12.57%.

Analyst Ratings Changes

WST has been the subject of several research reports. 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 research note on Friday, July 25th. Evercore ISI boosted their target price on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Stephens raised West Pharmaceutical Services to a "strong-buy" rating in a research report on Monday, April 21st. Barclays assumed 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. Finally, Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, West Pharmaceutical Services currently has an average 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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