West Pharmaceutical Services, Inc. $WST Position Raised by Comerica Bank

Key Points

• Comerica Bank increased its stake in West Pharmaceutical Services, Inc. by 5.4% during the first quarter, now owning 41,269 shares valued at approximately $9.24 million.
• West Pharmaceutical Services reported earnings of $1.84 per share, exceeding analysts' expectations and showing a 9.2% year-over-year revenue increase of $766.5 million.
• The company announced a dividend increase from $0.21 to $0.22 per share, reflecting a 0.4% yield and a payout ratio of 12.57%.

Comerica Bank lifted its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,269 shares of the medical instruments supplier's stock after acquiring an additional 2,111 shares during the quarter. Comerica Bank owned 0.06% of West Pharmaceutical Services worth $9,239,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC increased its position in shares of 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 worth $499,000 after acquiring an additional 1,136 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of 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 worth $1,249,000 after acquiring an additional 1,437 shares during the last quarter. Bessemer Group Inc. increased its position in shares of 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 worth $241,000 after acquiring an additional 327 shares during the last quarter. Sivik Global Healthcare LLC bought a new stake in West Pharmaceutical Services in the first quarter valued at about $2,799,000. Finally, State of Alaska Department of Revenue increased its holdings in West Pharmaceutical Services by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 8,486 shares of the medical instruments supplier's stock valued at $1,899,000 after buying an additional 225 shares during the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WST. Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Barclays began 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. Citigroup reissued a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. UBS Group boosted their price objective on West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Evercore ISI boosted their price objective on West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $320.71.

West Pharmaceutical Services Stock Performance

Shares of NYSE WST traded up $1.73 during midday trading on Friday, hitting $247.18. 462,981 shares of the company's stock were exchanged, compared to its average volume of 536,739. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.78 and a quick ratio of 2.08. The stock's 50 day moving average price is $234.84 and its 200-day moving average price is $223.35. The firm has a market cap of $17.77 billion, a P/E ratio of 37.00, a PEG ratio of 4.36 and a beta of 1.05. West Pharmaceutical Services, Inc. has a twelve month low of $187.43 and a twelve month high of $352.33.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last issued 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 return on equity of 18.43% and a net margin of 16.48%.The business's revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 earnings per share. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. Equities research analysts anticipate that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, November 12th. West Pharmaceutical Services's payout ratio is presently 12.57%.

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.