West Pharmaceutical Services (WST) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

West Pharmaceutical Services (NYSE:WST) released its quarterly earnings results on Thursday. The medical instruments supplier reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02, Bloomberg Earnings reports. The firm had revenue of $415.60 million during the quarter, compared to analyst estimates of $416.90 million. West Pharmaceutical Services had a return on equity of 14.47% and a net margin of 12.12%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. West Pharmaceutical Services updated its FY18 guidance to $2.80-2.90 EPS.

West Pharmaceutical Services (NYSE:WST) opened at $87.45 on Friday. The company has a market capitalization of $6,490.00, a price-to-earnings ratio of 33.13, a PEG ratio of 2.02 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.59 and a quick ratio of 1.87. West Pharmaceutical Services has a 1 year low of $77.97 and a 1 year high of $103.36.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Wednesday, April 18th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, April 17th. West Pharmaceutical Services’s payout ratio is 21.21%.

Several research analysts have recently commented on the company. Zacks Investment Research raised West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Saturday, February 3rd. Goldman Sachs Group assumed coverage on West Pharmaceutical Services in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $110.00 price target for the company. Finally, Wells Fargo & Co boosted their price target on West Pharmaceutical Services from $105.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. One equities 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 company. West Pharmaceutical Services currently has a consensus rating of “Hold” and a consensus price target of $108.17.

West Pharmaceutical Services declared that its board has approved a stock buyback program on Thursday, February 15th that authorizes the company to repurchase 800,000 shares. This repurchase authorization authorizes the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

In related news, CFO William J. Federici sold 21,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $99.01, for a total transaction of $2,079,210.00. Following the transaction, the chief financial officer now directly owns 190,493 shares of the company’s stock, valued at approximately $18,860,711.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its position in West Pharmaceutical Services by 15.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,883 shares of the medical instruments supplier’s stock valued at $374,000 after buying an additional 510 shares in the last quarter. Bessemer Group Inc. increased its position in West Pharmaceutical Services by 4.8% during the 3rd quarter. Bessemer Group Inc. now owns 12,510 shares of the medical instruments supplier’s stock valued at $1,204,000 after buying an additional 578 shares in the last quarter. Comerica Bank increased its position in West Pharmaceutical Services by 0.9% during the 4th quarter. Comerica Bank now owns 62,742 shares of the medical instruments supplier’s stock valued at $6,293,000 after buying an additional 585 shares in the last quarter. Paloma Partners Management Co increased its position in West Pharmaceutical Services by 17.5% during the 4th quarter. Paloma Partners Management Co now owns 4,424 shares of the medical instruments supplier’s stock valued at $437,000 after buying an additional 659 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in West Pharmaceutical Services by 0.5% during the 3rd quarter. Retirement Systems of Alabama now owns 138,483 shares of the medical instruments supplier’s stock valued at $13,330,000 after buying an additional 660 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

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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.

Earnings History for West Pharmaceutical Services (NYSE:WST)

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