Bahl & Gaynor Inc. Sells 2,039 Shares of West Pharmaceutical Services, Inc. $WST

Key Points

• Bahl & Gaynor Inc. reduced its stake in West Pharmaceutical Services by 46.7%, ending the first quarter with 2,325 shares valued at $521,000.
• West Pharmaceutical Services reported a Q2 earnings per share of $1.84, exceeding estimates, with revenue growth of 9.2% year-over-year.
• The company plans to increase its quarterly dividend to $0.22, representing a 4.8% increase from the previous dividend of $0.21.

Bahl & Gaynor Inc. lowered its stake in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 46.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,325 shares of the medical instruments supplier's stock after selling 2,039 shares during the period. Bahl & Gaynor Inc.'s holdings in West Pharmaceutical Services were worth $521,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WST. Zions Bancorporation National Association UT bought a new stake in shares of West Pharmaceutical Services during the first quarter worth about $25,000. First Horizon Advisors Inc. raised its position 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 bought a new stake in West Pharmaceutical Services during the first quarter worth $53,000. Whipplewood Advisors LLC grew its stake in 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 during the period. Finally, Brooklyn Investment Group grew its stake in West Pharmaceutical Services by 83.3% in the 1st quarter. Brooklyn Investment Group now owns 275 shares of the medical instruments supplier's stock valued at $61,000 after purchasing an additional 125 shares during the period. Institutional investors own 93.90% of the company's stock.

West Pharmaceutical Services Trading Down 0.2%

NYSE:WST traded down $0.37 during midday trading on Thursday, hitting $245.60. The stock had a trading volume of 784,142 shares, compared to its average volume of 836,102. West Pharmaceutical Services, Inc. has a one year low of $187.43 and a one year high of $352.33. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 4.34 and a beta of 1.05. The stock has a 50-day moving average of $233.67 and a 200 day moving average of $224.41. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.07.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.33. The business had revenue of $766.50 million for the quarter, compared to analysts' expectations 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 for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. As a group, sell-side analysts forecast that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current 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 given a dividend of $0.22 per share. 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. This represents a $0.88 annualized dividend and a yield of 0.4%. West Pharmaceutical Services's payout ratio is 12.57%.

Analyst Upgrades and Downgrades

WST has been the topic of a number of recent research reports. Barclays began coverage on West Pharmaceutical Services in a report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 price objective on the stock. Wall Street Zen upgraded West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group lifted their price objective on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Evercore ISI lifted their price objective on West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Citigroup restated a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.