BidaskClub Downgrades West Pharmaceutical Services, Inc. (NYSE:WST) to Sell
BidaskClub cut shares of West Pharmaceutical Services, Inc. (NYSE:WST) from a hold rating to a sell rating in a research note published on Thursday.
WST has been the subject of several other research reports. Zacks Investment Research raised shares of West Pharmaceutical Services from a hold rating to a buy rating and set a $108.00 price target for the company in a research note on Friday, June 23rd. Jefferies Group LLC reissued a hold rating and issued a $90.00 price target on shares of West Pharmaceutical Services in a research note on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $90.18.
Shares of West Pharmaceutical Services (NYSE WST) opened at 89.55 on Thursday. The company has a market cap of $6.59 billion, a P/E ratio of 38.43 and a beta of 1.12. The firm has a 50-day moving average of $94.78 and a 200 day moving average of $88.69. West Pharmaceutical Services has a 52 week low of $70.17 and a 52 week high of $99.91.
West Pharmaceutical Services (NYSE:WST) last posted its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. West Pharmaceutical Services had a net margin of 11.42% and a return on equity of 14.33%. The business had revenue of $397.60 million during the quarter, compared to analysts’ expectations of $406 million. During the same quarter in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts expect that West Pharmaceutical Services will post $2.73 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be issued a $0.14 dividend. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, October 17th. West Pharmaceutical Services’s dividend payout ratio is currently 22.22%.
In other news, VP Daniel Malone sold 4,124 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $93.31, for a total value of $384,810.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO William J. Federici sold 54,996 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $95.45, for a total transaction of $5,249,368.20. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Burt Wealth Advisors raised its position 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 valued at $158,000 after buying an additional 1,927 shares in the last quarter. Harfst & Associates Inc. bought a new position in shares of West Pharmaceutical Services during the first quarter valued at approximately $186,000. CIBC Asset Management Inc bought a new position in shares of West Pharmaceutical Services during the second quarter valued at approximately $223,000. Tyers Asset Management LLC raised its position in shares of 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 raised its position in shares of 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. Hedge funds and other institutional investors own 91.34% of the company’s stock.
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.
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