West Pharmaceutical Services (NYSE:WST) Upgraded at UBS Group

UBS Group upgraded shares of West Pharmaceutical Services (NYSE:WST) from a neutral rating to a buy rating in a research report released on Thursday, MarketBeat Ratings reports. They currently have $390.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $350.00.

West Pharmaceutical Services Stock Performance

Shares of WST stock opened at $330.05 on Thursday. The company has a market capitalization of $23.90 billion, a P/E ratio of 48.97, a price-to-earnings-growth ratio of 25.04 and a beta of 1.01. West Pharmaceutical Services has a 52 week low of $265.00 and a 52 week high of $413.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.23 and a current ratio of 3.00. The company’s 50 day moving average price is $312.73 and its two-hundred day moving average price is $311.73.

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

West Pharmaceutical Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.25%. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, November 13th. West Pharmaceutical Services’s dividend payout ratio is presently 12.46%.

Insider Buying and Selling

In related news, VP Charles Witherspoon sold 703 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $310.40, for a total value of $218,211.20. Following the transaction, the vice president now owns 1,253 shares in the company, valued at approximately $388,931.20. This represents a 35.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Institutional Trading of West Pharmaceutical Services

Several hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of West Pharmaceutical Services in the third quarter valued at approximately $30,000. Crewe Advisors LLC lifted its holdings in shares of West Pharmaceutical Services by 322.7% during the 2nd quarter. Crewe Advisors LLC now owns 93 shares of the medical instruments supplier’s stock worth $31,000 after acquiring an additional 71 shares during the period. Brooklyn Investment Group bought a new position in West Pharmaceutical Services in the third quarter valued at approximately $41,000. Quest Partners LLC raised its position in West Pharmaceutical Services by 5,633.3% during the second quarter. Quest Partners LLC now owns 172 shares of the medical instruments supplier’s stock valued at $57,000 after purchasing an additional 169 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in West Pharmaceutical Services by 332.1% during the second quarter. Blue Trust Inc. now owns 242 shares of the medical instruments supplier’s stock worth $80,000 after purchasing an additional 186 shares during the last quarter. 93.90% of the stock is owned by institutional investors and hedge funds.

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.