West Pharmaceutical Services, Inc. $WST Stock Position Raised by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Zurich raised its West Pharmaceutical Services stake by 39.8% in the third quarter, to 10,169 shares valued at about $3.8 million. Institutional investors collectively own 93.9% of the company’s shares.
• West reported quarterly earnings of $2.66 per share, beating the $2.20 consensus estimate, while revenue rose 8.7% year over year to $874.5 million.
• Analyst sentiment is broadly positive: 13 analysts rate the stock Buy and one rates it Hold, for a Moderate Buy consensus. The company also increased its quarterly dividend from $0.22 to $0.26 per share.

Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 39.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,169 shares of the medical instruments supplier's stock after purchasing an additional 2,893 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in West Pharmaceutical Services were worth $3,791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its stake in 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 buying an additional 50 shares during the period. Avalon Trust Co purchased a new position in West Pharmaceutical Services during the 2nd quarter worth $28,000. Addison Advisors LLC acquired a new stake in shares of West Pharmaceutical Services in the 2nd quarter worth $28,000. Raiffeisen Bank International AG lifted its stake in shares of West Pharmaceutical Services by 95.6% in the 2nd quarter. Raiffeisen Bank International AG now owns 133 shares of the medical instruments supplier's stock worth $47,000 after acquiring an additional 65 shares during the period. Finally, Elevation Wealth Partners LLC lifted its stake in shares of West Pharmaceutical Services by 1,377.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 133 shares of the medical instruments supplier's stock worth $48,000 after acquiring an additional 124 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at West Pharmaceutical Services

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WST. BNP Paribas Exane initiated coverage on shares of West Pharmaceutical Services in a report on Monday, July 13th. They issued an "outperform" rating and a $447.00 target price on the stock. Jefferies Financial Group reissued a "buy" rating and set a $475.00 price target on shares of West Pharmaceutical Services in a report on Monday. TD Cowen raised their price objective on shares of West Pharmaceutical Services from $420.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Evercore restated an "outperform" rating and issued a $425.00 price objective on shares of West Pharmaceutical Services in a research report on Monday, July 27th. Finally, Barclays lifted their price objective on West Pharmaceutical Services from $440.00 to $500.00 and gave the company an "overweight" rating in a report on Friday, October 30th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, West Pharmaceutical Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $424.67.

West Pharmaceutical Services Stock Performance

NYSE:WST opened at $408.06 on Wednesday. The firm's fifty day simple moving average is $369.96 and its 200-day simple moving average is $314.55. The company has a quick ratio of 2.10, a current ratio of 2.82 and a debt-to-equity ratio of 0.07. The stock has a market cap of $28.43 billion, a PE ratio of 45.80, a price-to-earnings-growth ratio of 2.48 and a beta of 1.13. West Pharmaceutical Services, Inc. has a fifty-two week low of $223.83 and a fifty-two week high of $438.27.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The medical instruments supplier reported $2.66 EPS for the quarter, beating the consensus estimate of $2.20 by $0.46. The firm had revenue of $874.50 million during the quarter, compared to analysts' expectations of $827.12 million. West Pharmaceutical Services had a net margin of 18.81% and a return on equity of 21.78%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.96 earnings per share. Analysts expect that West Pharmaceutical Services, Inc. will post 9.46 earnings per share 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 18th. Shareholders of record on Wednesday, November 11th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. This is a boost 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 9.88%.

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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