Alliancebernstein L.P. Lowers Stock Position in West Pharmaceutical Services, Inc. $WST

Key Points

• Alliancebernstein L.P. significantly reduced its holdings in West Pharmaceutical Services, selling 2,512,343 shares and lowering its position by 96.9% in the first quarter, leaving it with about 0.11% of the company.
• West Pharmaceutical Services reported a Q2 EPS of $1.84, exceeding analysts' expectations of $1.51, and experienced a 9.2% year-over-year increase in revenue.
• The firm announced a quarterly dividend increase to $0.22 per share, up from $0.21, with a scheduled payment on November 19th.

Alliancebernstein L.P. reduced its stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 96.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,140 shares of the medical instruments supplier's stock after selling 2,512,343 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of West Pharmaceutical Services worth $17,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WST. Zions Bancorporation National Association UT purchased a new position in shares of West Pharmaceutical Services in the 1st quarter worth $25,000. Quarry LP purchased a new stake in West Pharmaceutical Services in the 1st quarter valued at about $27,000. First Horizon Advisors Inc. boosted its position in West Pharmaceutical Services by 85.0% in the 1st quarter. First Horizon Advisors Inc. now owns 185 shares of the medical instruments supplier's stock valued at $41,000 after buying an additional 85 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of West Pharmaceutical Services in the 1st quarter valued at about $53,000. Finally, Whipplewood Advisors LLC raised its holdings in shares of West Pharmaceutical Services by 248.0% in the 1st quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock valued at $58,000 after purchasing an additional 186 shares in the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

West Pharmaceutical Services Price Performance

Shares of NYSE WST traded up $0.79 during mid-day trading on Tuesday, reaching $258.32. The company's stock had a trading volume of 436,173 shares, compared to its average volume of 535,428. West Pharmaceutical Services, Inc. has a 1-year low of $187.43 and a 1-year high of $352.33. The stock has a market capitalization of $18.58 billion, a P/E ratio of 38.67, a P/E/G ratio of 4.57 and a beta of 1.05. The stock has a 50-day moving average of $242.52 and a two-hundred day moving average of $225.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.08 and a current ratio of 2.78.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last released 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. West Pharmaceutical Services had a net margin of 16.48% and a return on equity of 18.43%. The firm had revenue of $766.50 million during the quarter, compared to analysts' expectations of $725.11 million. During the same period last year, the business earned $1.52 earnings per share. West Pharmaceutical Services's revenue was up 9.2% compared to the same quarter last year. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. On average, equities research analysts anticipate that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, November 12th. West Pharmaceutical Services's payout ratio is 12.57%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WST. Redburn Partners set a $311.00 price objective on shares of West Pharmaceutical Services in a research note on Monday. UBS Group upped their price target 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. Wall Street Zen raised shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Barclays began coverage on shares of West Pharmaceutical Services in a report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 price target on the stock. Finally, Rothschild Redb raised shares of West Pharmaceutical Services to a "strong-buy" rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, West Pharmaceutical Services presently has a consensus rating of "Buy" and a consensus price target of $318.56.

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.