West Pharmaceutical Services (NYSE:WST) Cut to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of West Pharmaceutical Services (NYSE:WST – Free Report) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Several other research analysts have also recently issued reports on WST. Zacks Research cut shares of West Pharmaceutical Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Evercore reissued an “outperform” rating and set a $425.00 target price on shares of West Pharmaceutical Services in a report on Monday, July 27th. Morgan Stanley upgraded West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $365.00 to $400.00 in a research report on Tuesday, September 22nd. Barclays increased their price target on West Pharmaceutical Services from $400.00 to $440.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Finally, TD Cowen lifted their price target on West Pharmaceutical Services from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $391.17.

Read Our Latest Stock Analysis on West Pharmaceutical Services

West Pharmaceutical Services Stock Up 0.6%

West Pharmaceutical Services stock opened at $394.68 on Friday. The stock has a market cap of $27.78 billion, a price-to-earnings ratio of 50.53, a PEG ratio of 2.75 and a beta of 1.13. The company has a current ratio of 2.82, a quick ratio of 2.12 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $363.12 and its two-hundred day moving average price is $310.55. West Pharmaceutical Services has a 52 week low of $223.83 and a 52 week high of $397.15.

West Pharmaceutical Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Wednesday, November 11th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, November 10th. West Pharmaceutical Services’s payout ratio is 11.27%.

Insider Buying and Selling at West Pharmaceutical Services

In related news, VP Annette Favorite sold 8,135 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $340.81, for a total value of $2,772,489.35. Following the completion of the sale, the vice president owned 16,845 shares in the company, valued at approximately $5,740,944.45. This represents a 32.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 15,659 shares of company stock valued at $5,443,749 over the last quarter. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On West Pharmaceutical Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in WST. BlackRock Inc. acquired a new position in shares of West Pharmaceutical Services during the second quarter worth approximately $2,387,990,000. Bank of New York Mellon Corp bought a new position in West Pharmaceutical Services during the second quarter worth $733,733,000. Generation Investment Management LLP bought a new position in West Pharmaceutical Services during the second quarter worth $728,168,000. Findlay Park Partners LLP acquired a new position in West Pharmaceutical Services during the 2nd quarter valued at $214,196,000. Finally, Legal & General Group Plc acquired a new position in West Pharmaceutical Services during the 2nd quarter valued at $176,138,000. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

About West Pharmaceutical Services

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West Pharmaceutical Services, Inc develops and manufactures components and delivery systems used in the administration and packaging of injectable medicines and other healthcare products. Its offerings include elastomer closures, seals, syringe components, drug-delivery systems, and other specialized packaging components designed to support the safety, quality, and performance of pharmaceutical products.

The company also provides contract-manufacturing services for pharmaceutical, biotechnology, and medical-device customers.

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