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

West Pharmaceutical Services (NYSE:WST) had its target price hoisted by Bank of America from $350.00 to $355.00 in a report issued on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the medical instruments supplier’s stock.

A number of other analysts have also issued reports on WST. UBS Group raised West Pharmaceutical Services from a “neutral” rating to a “buy” rating and boosted their target price for the company from $350.00 to $390.00 in a research report on Thursday. Wolfe Research started coverage on West Pharmaceutical Services in a research note on Friday. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $437.75.

West Pharmaceutical Services Stock Down 0.4 %

Shares of NYSE:WST opened at $330.24 on Friday. West Pharmaceutical Services has a 52-week low of $265.00 and a 52-week high of $413.70. The stock has a market cap of $23.92 billion, a P/E ratio of 49.00, a PEG ratio of 25.16 and a beta of 1.01. The business has a fifty day moving average of $312.73 and a two-hundred day moving average of $311.84. The company has a quick ratio of 2.23, a current ratio of 3.00 and a debt-to-equity ratio of 0.07.

West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 EPS for the quarter, beating 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 firm had revenue of $746.90 million for the quarter, compared to analyst estimates of $709.62 million. During the same quarter in the previous year, the company earned $2.16 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, research analysts expect that West Pharmaceutical Services will post 6.64 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

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

Insider Activity at West Pharmaceutical Services

In related news, VP Charles Witherspoon sold 703 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $310.40, for a total transaction of $218,211.20. Following the transaction, 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 filing with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On West Pharmaceutical Services

Large investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in West Pharmaceutical Services by 199.4% during the third quarter. FMR LLC now owns 595,775 shares of the medical instruments supplier’s stock worth $178,828,000 after buying an additional 396,780 shares in the last quarter. LGT Group Foundation purchased a new stake in shares of West Pharmaceutical Services during the 2nd quarter worth approximately $68,854,000. Liontrust Investment Partners LLP acquired a new stake in shares of West Pharmaceutical Services in the 2nd quarter worth approximately $64,196,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in West Pharmaceutical Services by 21.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 683,350 shares of the medical instruments supplier’s stock valued at $205,114,000 after purchasing an additional 122,361 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its stake in West Pharmaceutical Services by 29.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 444,000 shares of the medical instruments supplier’s stock valued at $133,271,000 after purchasing an additional 101,710 shares in the last quarter. Hedge funds and other institutional investors own 93.90% of the company’s stock.

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.