West Pharmaceutical Services, Inc. (NYSE:WST) issued its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01, reports. The firm had revenue of $397.60 million during the quarter, compared to analyst estimates of $406 million. West Pharmaceutical Services had a net margin of 11.42% and a return on equity of 14.02%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. West Pharmaceutical Services updated its FY17 guidance to $2.66-2.73 EPS.
Shares of West Pharmaceutical Services (NYSE:WST) opened at 86.71 on Wednesday. The stock’s 50 day moving average is $93.44 and its 200-day moving average is $88.71. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 37.21 and a beta of 1.10. West Pharmaceutical Services has a 52 week low of $70.17 and a 52 week high of $99.91.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be paid a dividend of $0.14 per share. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, October 17th. West Pharmaceutical Services’s payout ratio is currently 22.22%.
A number of brokerages have recently issued reports on WST. Zacks Investment Research raised shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, June 23rd. BidaskClub lowered shares of West Pharmaceutical Services from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $90.18.
In related news, CFO William J. Federici sold 54,996 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $95.45, for a total transaction of $5,249,368.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Burt Wealth Advisors increased its stake in shares of West Pharmaceutical Services by 38,540.0% in the first quarter. Burt Wealth Advisors now owns 1,932 shares of the medical instruments supplier’s stock worth $158,000 after buying an additional 1,927 shares during the last quarter. Harfst & Associates Inc. purchased a new position in West Pharmaceutical Services during the first quarter valued at $186,000. CIBC Asset Management Inc purchased a new position in West Pharmaceutical Services during the second quarter valued at $223,000. Tyers Asset Management LLC increased its position in West Pharmaceutical Services by 17.6% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the medical instruments supplier’s stock valued at $201,000 after buying an additional 368 shares in the last quarter. Finally, Cutler Group LP increased its position in West Pharmaceutical Services by 482.2% in the second quarter. Cutler Group LP now owns 2,550 shares of the medical instruments supplier’s stock valued at $241,000 after buying an additional 2,112 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.
About West Pharmaceutical Services
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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