West Pharmaceutical Services Inc. (WST) Lowered to Sell at Zacks Investment Research
According to Zacks, “West Pharmaceutical Services applies technologies to the process of bringing new drug therapies and healthcare products. West’s technologies include the design and manufacture of packaging components for pharmaceutical, healthcare and consumer products; research and development of drug delivery systems; contract manufacturing and packaging services; clinical services; and contract laboratory services and other services that support the manufacturing, filling and packaging of pharmaceutical, healthcare and consumer products. “
Several other research firms also recently commented on WST. Jefferies Group reaffirmed a hold rating and issued a $67.00 target price on shares of West Pharmaceutical Services in a research report on Thursday, June 9th. Wells Fargo & Co. downgraded West Pharmaceutical Services from an outperform rating to a market perform rating in a research report on Wednesday, September 21st. Finally, Janney Montgomery Scott reaffirmed a fair value rating and issued a $72.55 target price (down previously from $90.00) on shares of West Pharmaceutical Services in a research report on Monday.
Shares of West Pharmaceutical Services (NYSE:WST) traded down 0.72% during mid-day trading on Wednesday, hitting $74.22. The company’s stock had a trading volume of 54,884 shares. West Pharmaceutical Services has a 1-year low of $52.79 and a 1-year high of $84.33. The company has a 50-day moving average of $80.26 and a 200 day moving average of $75.18. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 54.06 and a beta of 0.87.
West Pharmaceutical Services (NYSE:WST) last released its earnings results on Thursday, July 28th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. West Pharmaceutical Services had a return on equity of 14.40% and a net margin of 6.99%. The business had revenue of $388 million for the quarter, compared to analyst estimates of $384.58 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. West Pharmaceutical Services’s revenue was up 7.9% on a year-over-year basis. On average, analysts expect that West Pharmaceutical Services will post $2.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be paid a dividend of $0.13 per share. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.70%. West Pharmaceutical Services’s dividend payout ratio is presently 35.04%.
In other news, Director Paula A. Johnson sold 3,042 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $81.55, for a total value of $248,075.10. Following the completion of the transaction, the director now directly owns 38,450 shares in the company, valued at approximately $3,135,597.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Karen Flynn sold 14,581 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $83.28, for a total value of $1,214,305.68. Following the completion of the sale, the senior vice president now owns 13,513 shares of the company’s stock, valued at $1,125,362.64. The disclosure for this sale can be found here. Company insiders own 5.13% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC increased its stake in West Pharmaceutical Services by 1.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 12,616 shares of the company’s stock worth $957,000 after buying an additional 137 shares during the last quarter. Mason Street Advisors LLC bought a new stake in West Pharmaceutical Services during the second quarter worth $2,529,000. Public Employees Retirement System of Ohio increased its stake in West Pharmaceutical Services by 76.8% in the second quarter. Public Employees Retirement System of Ohio now owns 82,228 shares of the company’s stock worth $6,239,000 after buying an additional 35,717 shares during the last quarter. Stifel Financial Corp increased its stake in West Pharmaceutical Services by 4.5% in the second quarter. Stifel Financial Corp now owns 109,420 shares of the company’s stock worth $8,302,000 after buying an additional 4,670 shares during the last quarter. Finally, Amalgamated Bank increased its stake in West Pharmaceutical Services by 58.7% in the second quarter. Amalgamated Bank now owns 12,551 shares of the company’s stock worth $1,022,000 after buying an additional 4,643 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.
West Pharmaceutical Services Company Profile
West Pharmaceutical Services, Inc (West) is a manufacturer of components and systems for the packaging and delivery of injectable drugs, as well as delivery system components for the pharmaceutical, healthcare and consumer products industries. The Company’s segments include Pharmaceutical Packaging Systems segment (Packaging Systems) and the Pharmaceutical Delivery Systems segment (Delivery Systems).
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