West Pharmaceutical Services (WST) to Repurchase 800,000 Outstanding Stock

West Pharmaceutical Services (NYSE:WST) announced that its board has authorized a share repurchase program, which authorizes the company to buyback 800,000 outstanding shares on Thursday, February 15th, EventVestor reports. This buyback authorization authorizes the medical instruments supplier to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

A number of analysts have weighed in on the stock. Goldman Sachs Group began coverage on shares of West Pharmaceutical Services in a research note on Wednesday, January 24th. They set a “neutral” rating and a $110.00 target price on the stock. Zacks Investment Research lowered shares of West Pharmaceutical Services from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Finally, Wells Fargo & Co lifted their price target on shares of West Pharmaceutical Services from $105.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. West Pharmaceutical Services presently has a consensus rating of “Hold” and a consensus target price of $108.17.

West Pharmaceutical Services (WST) traded down $4.89 during mid-day trading on Thursday, reaching $90.15. 303,619 shares of the company traded hands, compared to its average volume of 357,263. The firm has a market capitalization of $6,905.52, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The company has a current ratio of 2.59, a quick ratio of 1.87 and a debt-to-equity ratio of 0.15. West Pharmaceutical Services has a 1-year low of $77.97 and a 1-year high of $103.36.

West Pharmaceutical Services (NYSE:WST) last released its earnings results on Thursday, February 15th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. West Pharmaceutical Services had a net margin of 12.12% and a return on equity of 14.47%. The business had revenue of $415.60 million for the quarter, compared to analyst estimates of $416.90 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. West Pharmaceutical Services’s revenue for the quarter was up 8.7% on a year-over-year basis. equities analysts anticipate that West Pharmaceutical Services will post 2.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, January 17th. This represents a $0.56 annualized dividend and a dividend yield of 0.62%. West Pharmaceutical Services’s dividend payout ratio is currently 22.31%.

In other news, CFO William J. Federici sold 21,000 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were 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 owns 190,493 shares in the company, valued at $18,860,711.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

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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.

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