West Pharmaceutical Services, Inc. (WST) Lowered to “Neutral” at Bank of America Corporation

Bank of America Corporation cut shares of West Pharmaceutical Services, Inc. (NYSE:WST) from a buy rating to a neutral rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have $98.00 price target on the medical instruments supplier’s stock.

WST has been the subject of a number of other research reports. BidaskClub lowered shares of West Pharmaceutical Services from a hold rating to a sell rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of West Pharmaceutical Services from a sell rating to a hold rating in a report on Wednesday, September 27th. Jefferies Group LLC upgraded shares of West Pharmaceutical Services from a hold rating to a buy rating and lifted their price objective for the company from $96.00 to $115.00 in a report on Friday, September 15th. Finally, Stephens initiated coverage on shares of West Pharmaceutical Services in a report on Tuesday, October 3rd. They set an equal weight rating and a $99.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $104.00.

West Pharmaceutical Services (WST) opened at 93.84 on Tuesday. The company’s 50 day moving average is $93.61 and its 200 day moving average is $91.64. West Pharmaceutical Services has a 12 month low of $70.17 and a 12 month high of $99.91. The stock has a market cap of $6.94 billion, a PE ratio of 40.27 and a beta of 1.12.

West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. West Pharmaceutical Services had a net margin of 11.42% and a return on equity of 14.02%. The company had revenue of $397.60 million during the quarter, compared to analyst estimates of $406.00 million. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts anticipate that West Pharmaceutical Services will post $2.67 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in West Pharmaceutical Services by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,555,351 shares of the medical instruments supplier’s stock valued at $619,612,000 after purchasing an additional 114,507 shares during the period. BlackRock Inc. increased its position in West Pharmaceutical Services by 7.1% during the 2nd quarter. BlackRock Inc. now owns 6,217,894 shares of the medical instruments supplier’s stock valued at $587,715,000 after purchasing an additional 412,858 shares during the period. State Street Corp increased its position in West Pharmaceutical Services by 2.8% during the 2nd quarter. State Street Corp now owns 2,511,108 shares of the medical instruments supplier’s stock valued at $237,351,000 after purchasing an additional 67,937 shares during the period. Goldman Sachs Group Inc. increased its position in West Pharmaceutical Services by 10.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 935,685 shares of the medical instruments supplier’s stock valued at $88,441,000 after purchasing an additional 86,022 shares during the period. Finally, Hermes Investment Management Ltd. increased its position in West Pharmaceutical Services by 3.3% during the 3rd quarter. Hermes Investment Management Ltd. now owns 908,655 shares of the medical instruments supplier’s stock valued at $87,467,000 after purchasing an additional 28,955 shares during the period. 90.70% of the stock is currently owned by institutional investors and hedge funds.

West Pharmaceutical Services Company Profile

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.

Analyst Recommendations for West Pharmaceutical Services (NYSE:WST)

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