Waddell & Associates LLC Trims Holdings in West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Waddell & Associates LLC has cut its stake in West Pharmaceutical Services by 25.6%, now holding 2,900 shares valued at $649,000.
• West Pharmaceutical Services recently declared a quarterly dividend increase to $0.22, which will be paid on November 19th, representing a 0.33% yield.
• The company reported Q2 earnings of $1.84 EPS, exceeding estimates, with a year-over-year revenue growth of 9.2%.

Waddell & Associates LLC trimmed its position in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 25.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,900 shares of the medical instruments supplier's stock after selling 1,000 shares during the quarter. Waddell & Associates LLC's holdings in West Pharmaceutical Services were worth $649,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. DAVENPORT & Co LLC grew its stake in West Pharmaceutical Services by 103.8% during the first quarter. DAVENPORT & Co LLC now owns 2,230 shares of the medical instruments supplier's stock valued at $499,000 after acquiring an additional 1,136 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in 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 valued at $1,249,000 after acquiring an additional 1,437 shares in the last quarter. National Wealth Management Group LLC purchased a new position in West Pharmaceutical Services during the fourth quarter valued at approximately $706,000. Bessemer Group Inc. grew its stake in 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 valued at $241,000 after acquiring an additional 327 shares in the last quarter. Finally, Sivik Global Healthcare LLC purchased a new position in West Pharmaceutical Services during the first quarter valued at approximately $2,799,000. Hedge funds and other institutional investors own 93.90% of the company's stock.

West Pharmaceutical Services Trading Down 3.1%

NYSE:WST traded down $7.64 during midday trading on Thursday, reaching $241.58. 263,662 shares of the stock traded hands, compared to its average volume of 872,507. The company has a fifty day moving average of $222.92 and a 200 day moving average of $237.52. 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 stock has a market capitalization of $17.37 billion, a P/E ratio of 36.18, a PEG ratio of 4.40 and a beta of 1.09.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.33. The company 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%. The firm's revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS. On average, research analysts predict that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current 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 an increase 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 0.36%. The ex-dividend date is Wednesday, November 12th. West Pharmaceutical Services's payout ratio is presently 12.57%.

Analysts Set New Price Targets

WST has been the subject of several research analyst reports. Stephens upgraded shares of West Pharmaceutical Services to a "strong-buy" rating in a research report on Monday, April 21st. Barclays initiated coverage on shares of West Pharmaceutical Services in a research report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 target price for the company. Wall Street Zen upgraded shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group boosted their price objective on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Citigroup restated a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.