West Pharmaceutical Services, Inc. (NYSE:WST) – Research analysts at KeyCorp lifted their Q2 2021 earnings per share estimates for West Pharmaceutical Services in a research note issued on Thursday, April 29th. KeyCorp analyst P. Knight now anticipates that the medical instruments supplier will post earnings per share of $1.73 for the quarter, up from their previous estimate of $1.52. KeyCorp also issued estimates for West Pharmaceutical Services’ Q3 2021 earnings at $1.68 EPS and Q4 2021 earnings at $1.65 EPS.
Separately, Zacks Investment Research upgraded shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $355.00 price objective on the stock in a report on Wednesday, April 21st.
West Pharmaceutical Services (NYSE:WST) last posted its quarterly earnings results on Thursday, April 29th. The medical instruments supplier reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.63. West Pharmaceutical Services had a return on equity of 19.01% and a net margin of 14.69%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of West Pharmaceutical Services in the 4th quarter valued at about $211,338,000. BlackRock Inc. increased its stake in West Pharmaceutical Services by 5.1% in the fourth quarter. BlackRock Inc. now owns 7,290,940 shares of the medical instruments supplier’s stock valued at $2,065,597,000 after purchasing an additional 350,911 shares in the last quarter. WCM Investment Management LLC raised its holdings in West Pharmaceutical Services by 17.5% in the fourth quarter. WCM Investment Management LLC now owns 1,613,372 shares of the medical instruments supplier’s stock worth $457,084,000 after purchasing an additional 240,412 shares during the period. Brown Advisory Inc. boosted its position in shares of West Pharmaceutical Services by 20.2% during the fourth quarter. Brown Advisory Inc. now owns 1,172,468 shares of the medical instruments supplier’s stock worth $332,172,000 after purchasing an additional 196,946 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of West Pharmaceutical Services by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,624,247 shares of the medical instruments supplier’s stock valued at $1,310,095,000 after buying an additional 175,527 shares during the period. Hedge funds and other institutional investors own 92.55% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Wednesday, April 21st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.21%. The ex-dividend date is Tuesday, April 20th. West Pharmaceutical Services’s payout ratio is 20.99%.
About West Pharmaceutical Services
West Pharmaceutical Services, Inc designs and produces containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers stoppers and seals for injectable packaging systems; syringe and cartridge components, including custom solutions for the needs of injectable drug applications, as well as administration systems that enhance the safe delivery of drugs through advanced reconstitution, mixing, and transfer technologies; and films, coatings, washing, and vision inspection and sterilization processes and services to enhance the quality of packaging components.
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