West Pharmaceutical Services (NYSE:WST) Stock Price Expected to Rise, Bank of America Analyst Says

West Pharmaceutical Services (NYSE:WSTGet Free Report) had its target price increased by investment analysts at Bank of America from $350.00 to $355.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Bank of America‘s price objective would suggest a potential upside of 7.56% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Wolfe Research started coverage on shares of West Pharmaceutical Services in a research report on Friday. They set a “peer perform” rating on the stock. UBS Group upgraded West Pharmaceutical Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $350.00 to $390.00 in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, West Pharmaceutical Services presently has an average rating of “Moderate Buy” and a consensus price target of $437.75.

View Our Latest Analysis on West Pharmaceutical Services

West Pharmaceutical Services Stock Down 0.5 %

West Pharmaceutical Services stock opened at $330.05 on Friday. The stock’s 50 day moving average price is $312.73 and its 200 day moving average price is $311.73. West Pharmaceutical Services has a 1-year low of $265.00 and a 1-year high of $413.70. The company has a market cap of $23.90 billion, a PE ratio of 48.97, a price-to-earnings-growth ratio of 25.04 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.00 and a quick ratio of 2.23.

West Pharmaceutical Services (NYSE:WSTGet Free Report) last issued its earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 EPS for the quarter, topping the consensus estimate of $1.50 by $0.35. West Pharmaceutical Services had a net margin of 17.37% and a return on equity of 18.41%. The company had revenue of $746.90 million for the quarter, compared to analyst estimates of $709.62 million. The business’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 EPS. On average, sell-side analysts predict that West Pharmaceutical Services will post 6.64 EPS for the current fiscal year.

Insider Buying and Selling at West Pharmaceutical Services

In related news, VP Charles Witherspoon sold 703 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $310.40, for a total transaction of $218,211.20. Following the sale, the vice president now owns 1,253 shares of the company’s stock, valued at $388,931.20. This trade represents a 35.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of West Pharmaceutical Services by 2.3% in the third quarter. Principal Financial Group Inc. now owns 91,756 shares of the medical instruments supplier’s stock valued at $27,541,000 after buying an additional 2,037 shares during the last quarter. Swedbank AB grew its stake in West Pharmaceutical Services by 44.6% in the 3rd quarter. Swedbank AB now owns 7,195 shares of the medical instruments supplier’s stock worth $2,160,000 after acquiring an additional 2,220 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in West Pharmaceutical Services by 22.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 130,345 shares of the medical instruments supplier’s stock worth $39,124,000 after acquiring an additional 23,850 shares during the period. Natixis Advisors LLC raised its holdings in West Pharmaceutical Services by 9.7% in the 3rd quarter. Natixis Advisors LLC now owns 53,747 shares of the medical instruments supplier’s stock valued at $16,133,000 after acquiring an additional 4,740 shares during the last quarter. Finally, Atria Investments Inc lifted its stake in shares of West Pharmaceutical Services by 19.4% during the 3rd quarter. Atria Investments Inc now owns 9,074 shares of the medical instruments supplier’s stock worth $2,724,000 after purchasing an additional 1,475 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

About West Pharmaceutical Services

(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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Analyst Recommendations for West Pharmaceutical Services (NYSE:WST)

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