West Pharmaceutical Services, Inc. $WST Shares Purchased by Swiss National Bank

Key Points

• Swiss National Bank increased its stake in West Pharmaceutical Services by 7.2% in the first quarter, holding 211,160 shares worth about $52.9 million at the end of the period.
• West Pharmaceutical Services reported better-than-expected quarterly results, with EPS of $2.13 versus $1.68 expected and revenue of $844.9 million, up 21% year over year.
• The company also announced a quarterly dividend of $0.22 per share, payable on August 5, while analysts currently maintain a consensus Buy rating with an average price target of $363.17.

Swiss National Bank grew its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 7.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 211,160 shares of the medical instruments supplier's stock after acquiring an additional 14,120 shares during the period. Swiss National Bank owned about 0.30% of West Pharmaceutical Services worth $52,925,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WST. Elyxium Wealth LLC acquired a new position in shares of West Pharmaceutical Services in the 4th quarter worth $25,000. CYBER HORNET ETFs LLC acquired a new position in shares of West Pharmaceutical Services in the 2nd quarter valued at $25,000. Cornerstone Planning Group LLC boosted its position in shares of West Pharmaceutical Services by 90.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 105 shares of the medical instruments supplier's stock valued at $26,000 after purchasing an additional 50 shares during the period. Bayban purchased a new position in West Pharmaceutical Services in the 4th quarter worth about $27,000. Finally, Private Trust Co. NA increased its stake in West Pharmaceutical Services by 156.4% in the 4th quarter. Private Trust Co. NA now owns 100 shares of the medical instruments supplier's stock worth $28,000 after purchasing an additional 61 shares in the last quarter. 93.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

WST has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of West Pharmaceutical Services from $350.00 to $390.00 and gave the company an "overweight" rating in a research note on Thursday, July 2nd. Citigroup restated a "buy" rating on shares of West Pharmaceutical Services in a report on Friday, April 24th. Morgan Stanley upped their price target on shares of West Pharmaceutical Services from $325.00 to $365.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. TD Cowen reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a research note on Wednesday, July 15th. Finally, Evercore reiterated an "outperform" rating and set a $410.00 price objective on shares of West Pharmaceutical Services in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $363.17.

Insiders Place Their Bets

In other news, VP Annette F. Favorite sold 2,817 shares of the company's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $305.20, for a total value of $859,748.40. Following the transaction, the vice president directly owned 16,828 shares of the company's stock, valued at approximately $5,135,905.60. This represents a 14.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Chad Winters sold 896 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $300.67, for a total value of $269,400.32. Following the sale, the chief accounting officer owned 1,523 shares of the company's stock, valued at approximately $457,920.41. This represents a 37.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company's stock.

West Pharmaceutical Services Stock Performance

WST stock opened at $358.87 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.04 and a current ratio of 2.71. The stock has a market cap of $25.35 billion, a P/E ratio of 47.98, a P/E/G ratio of 2.91 and a beta of 1.16. The firm has a 50 day simple moving average of $335.41 and a 200 day simple moving average of $286.58. West Pharmaceutical Services, Inc. has a 52 week low of $221.50 and a 52 week high of $367.66.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The medical instruments supplier reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.45. West Pharmaceutical Services had a net margin of 16.85% and a return on equity of 19.03%. The firm had revenue of $844.90 million for the quarter, compared to analyst estimates of $779.67 million. During the same quarter in the prior year, the business earned $1.45 EPS. The company's revenue for the quarter was up 21.0% compared to the same quarter last year. Research analysts anticipate that West Pharmaceutical Services, Inc. will post 8.6 earnings per share for the current fiscal year.

West Pharmaceutical Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 29th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, July 29th. West Pharmaceutical Services's payout ratio is currently 11.76%.

West Pharmaceutical Services Profile

West Pharmaceutical Services, Inc is a global developer and manufacturer of components, systems and services that enable the containment and delivery of injectable drugs. The company focuses on high-quality packaging and delivery solutions for the pharmaceutical and biotech industries, producing primary drug packaging components and specialized drug delivery devices used for vaccines, biologics and other injectable therapies. West is known for its elastomeric closures, seals and polymer components that maintain sterility and compatibility with sensitive drug formulations.

In addition to component manufacturing, West provides engineered delivery systems and support services across the product lifecycle.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.