West Pharmaceutical Services, Inc. $WST Stock: Boston Trust Walden Corp Trims Holdings

Key Points

• Boston Trust Walden cut its West Pharmaceutical Services stake by 3.7% in the third quarter, selling 2,999 shares and retaining 78,232 shares valued at about $29 million.
• West reported quarterly EPS of $2.66, beating the $2.20 consensus, while revenue rose 8.7% year over year to $874.5 million.
• The company raised its quarterly dividend from $0.22 to $0.26 per share, equivalent to $1.04 annually and a 0.3% yield. Analysts’ consensus rating was “Moderate Buy,” with an average target price of $424.67.

Boston Trust Walden Corp lessened its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,232 shares of the medical instruments supplier's stock after selling 2,999 shares during the period. Boston Trust Walden Corp owned approximately 0.11% of West Pharmaceutical Services worth $29,005,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC increased its position in West Pharmaceutical Services by 6.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,912 shares of the medical instruments supplier's stock worth $1,142,000 after purchasing an additional 170 shares in the last quarter. Sound Financial Strategies Group LLC lifted its stake in shares of West Pharmaceutical Services by 29.6% during the 3rd quarter. Sound Financial Strategies Group LLC now owns 1,401 shares of the medical instruments supplier's stock worth $519,000 after purchasing an additional 320 shares during the period. Ascent Group LLC purchased a new position in shares of West Pharmaceutical Services during the 3rd quarter worth $238,000. Rakuten Investment Management Inc. boosted its holdings in shares of West Pharmaceutical Services by 7.7% during the third quarter. Rakuten Investment Management Inc. now owns 12,649 shares of the medical instruments supplier's stock worth $4,764,000 after purchasing an additional 903 shares during the last quarter. Finally, Provenance Wealth Advisors LLC boosted its holdings in shares of West Pharmaceutical Services by 42,650.0% during the third quarter. Provenance Wealth Advisors LLC now owns 855 shares of the medical instruments supplier's stock worth $317,000 after purchasing an additional 853 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

West Pharmaceutical Services Stock Down 3.9%

NYSE WST opened at $392.69 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.82 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a fifty-two week low of $223.83 and a fifty-two week high of $438.27. The business has a 50 day moving average price of $372.00 and a two-hundred day moving average price of $315.86. The stock has a market cap of $27.36 billion, a PE ratio of 44.07, a P/E/G ratio of 2.48 and a beta of 1.13.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its earnings results on Thursday, October 29th. The medical instruments supplier reported $2.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.46. The company had revenue of $874.50 million for the quarter, compared to analyst estimates of $827.12 million. West Pharmaceutical Services had a return on equity of 21.78% and a net margin of 18.81%. West Pharmaceutical Services's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 EPS. As a group, sell-side analysts predict that West Pharmaceutical Services, Inc. will post 9.46 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Wednesday, November 11th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, November 10th. West Pharmaceutical Services's dividend payout ratio is presently 11.67%.

Analysts Set New Price Targets

WST has been the topic of several recent analyst reports. Morgan Stanley upgraded West Pharmaceutical Services from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $365.00 to $400.00 in a research report on Tuesday, September 22nd. Zacks Research lowered shares of West Pharmaceutical Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 12th. UBS Group raised their target price on shares of West Pharmaceutical Services from $340.00 to $415.00 and gave the stock a "buy" rating in a research report on Wednesday, September 9th. Wall Street Zen raised shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Sunday, November 1st. Finally, BNP Paribas Exane assumed coverage on shares of West Pharmaceutical Services in a research report on Monday, July 13th. They set an "outperform" rating and a $447.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $424.67.

Insider Activity

In other news, VP Annette Favorite sold 8,135 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $340.81, for a total transaction of $2,772,489.35. Following the completion of the transaction, the vice president directly owned 16,845 shares in the company, valued at approximately $5,740,944.45. The trade was a 32.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 15,659 shares of company stock worth $5,443,749 over the last three months. Insiders own 0.60% of the company's stock.

West Pharmaceutical Services Company Profile

West Pharmaceutical Services, Inc develops and manufactures components and delivery systems used in the administration and packaging of injectable medicines and other healthcare products. Its offerings include elastomer closures, seals, syringe components, drug-delivery systems, and other specialized packaging components designed to support the safety, quality, and performance of pharmaceutical products.

The company also provides contract-manufacturing services for pharmaceutical, biotechnology, and medical-device customers.

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