BI Asset Management Fondsmaeglerselskab A S Reduces Stock Holdings in West Pharmaceutical Services, Inc. $WST

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its holdings in West Pharmaceutical Services by 33.4%, now owning 2,019 shares valued at $452,000.
• West Pharmaceutical Services reported $1.84 earnings per share for the last quarter, surpassing analyst estimates and registering a quarterly revenue of $766.50 million.
• The company announced an increase in its quarterly dividend to $0.22 per share, set to be paid on November 19th, 2023, with a current dividend yield of 0.4%.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 33.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,019 shares of the medical instruments supplier's stock after selling 1,013 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in West Pharmaceutical Services were worth $452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Boston Trust Walden Corp grew its position in West Pharmaceutical Services by 4.7% during the first quarter. Boston Trust Walden Corp now owns 1,110 shares of the medical instruments supplier's stock valued at $249,000 after acquiring an additional 50 shares during the last quarter. MGO One Seven LLC grew its position in West Pharmaceutical Services by 4.4% during the fourth quarter. MGO One Seven LLC now owns 1,277 shares of the medical instruments supplier's stock valued at $418,000 after acquiring an additional 54 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in West Pharmaceutical Services by 0.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 9,318 shares of the medical instruments supplier's stock valued at $3,105,000 after acquiring an additional 55 shares during the last quarter. Formidable Asset Management LLC grew its position in West Pharmaceutical Services by 2.7% during the fourth quarter. Formidable Asset Management LLC now owns 2,067 shares of the medical instruments supplier's stock valued at $677,000 after acquiring an additional 55 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in West Pharmaceutical Services by 0.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,887 shares of the medical instruments supplier's stock valued at $1,766,000 after acquiring an additional 57 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WST has been the topic of a number of recent research reports. UBS Group increased 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 report on Friday, July 25th. Evercore ISI increased 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. Barclays initiated coverage on West Pharmaceutical Services in a research note on Tuesday, June 24th. They set 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 research note on Thursday, May 22nd. Finally, Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, West Pharmaceutical Services has a consensus rating of "Moderate Buy" and a consensus price target of $320.71.

West Pharmaceutical Services Trading Down 0.3%

WST stock traded down $0.68 on Thursday, reaching $245.29. The company's stock had a trading volume of 313,585 shares, compared to its average volume of 833,180. The business has a fifty day simple moving average of $233.67 and a two-hundred day simple moving average of $224.41. West Pharmaceutical Services, Inc. has a 12-month low of $187.43 and a 12-month high of $352.33. The firm has a market cap of $17.64 billion, a PE ratio of 36.76, a PEG ratio of 4.34 and a beta of 1.05. 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 announced its quarterly earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.33. West Pharmaceutical Services had a return on equity of 18.43% and a net margin of 16.48%.The company had revenue of $766.50 million during the quarter, compared to analyst estimates of $725.11 million. During the same quarter last year, the firm posted $1.52 earnings per share. The firm's revenue was up 9.2% on a year-over-year basis. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. As a group, research analysts forecast that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.4%. West Pharmaceutical Services's payout ratio is 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.