West Pharmaceutical Services, Inc. (NYSE:WST - Get Free Report)'s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $227.31, but opened at $281.86. West Pharmaceutical Services shares last traded at $275.28, with a volume of 1,101,034 shares.
The medical instruments supplier reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.33. West Pharmaceutical Services had a return on equity of 18.23% and a net margin of 16.13%. The business had revenue of $766.50 million during the quarter, compared to analysts' expectations of $725.11 million. During the same period in the prior year, the business earned $1.52 EPS. The business's revenue for the quarter was up 9.2% compared to the same quarter last year.
West Pharmaceutical Services Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.32%. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's dividend payout ratio (DPR) is presently 13.19%.
Analyst Ratings Changes
Several research analysts recently commented on WST shares. Stephens raised West Pharmaceutical Services to a "strong-buy" rating in a research note on Monday, April 21st. Barclays began coverage on West Pharmaceutical Services in a report on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 price target on the stock. Finally, Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $320.00.
Read Our Latest Stock Report on West Pharmaceutical Services
Hedge Funds Weigh In On West Pharmaceutical Services
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of West Pharmaceutical Services by 5.4% in the fourth quarter. Quadrant Capital Group LLC now owns 626 shares of the medical instruments supplier's stock worth $205,000 after purchasing an additional 32 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of West Pharmaceutical Services by 4.7% in the first quarter. Boston Trust Walden Corp now owns 1,110 shares of the medical instruments supplier's stock valued at $249,000 after purchasing an additional 50 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of West Pharmaceutical Services by 4.4% in 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 in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of West Pharmaceutical Services by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,519 shares of the medical instruments supplier's stock worth $490,000 after acquiring an additional 55 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in West Pharmaceutical Services by 0.6% in 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 period. 93.90% of the stock is currently owned by institutional investors and hedge funds.
West Pharmaceutical Services Price Performance
The stock has a market capitalization of $19.86 billion, a PE ratio of 43.38, a PEG ratio of 5.29 and a beta of 1.09. The company has a quick ratio of 2.03, a current ratio of 2.77 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $217.86 and a 200 day moving average of $240.15.
West Pharmaceutical Services Company Profile
(
Get Free Report)
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.
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