West Pharmaceutical Services Inc. (NYSE:WST) announced a quarterly dividend on Friday, December 22nd, Zacks reports. Investors of record on Thursday, January 18th will be paid a dividend of 0.14 per share by the medical instruments supplier on Thursday, February 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, January 17th.
West Pharmaceutical Services has raised its dividend by an average of 8.9% per year over the last three years and has raised its dividend every year for the last 25 years. West Pharmaceutical Services has a payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Analysts expect West Pharmaceutical Services to earn $2.87 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 19.5%.
Shares of West Pharmaceutical Services (NYSE WST) opened at $99.09 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.59 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $7,360.00, a P/E ratio of 39.48, a P/E/G ratio of 2.07 and a beta of 1.12. West Pharmaceutical Services has a twelve month low of $77.97 and a twelve month high of $103.36.
In other West Pharmaceutical Services news, CFO William J. Federici sold 21,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 190,493 shares in the company, valued at $18,860,711.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.
WST has been the subject of a number of research reports. Jefferies Group upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $96.00 to $115.00 in a report on Friday, September 15th. Stephens initiated coverage on West Pharmaceutical Services in a report on Tuesday, October 3rd. They issued an “equal weight” rating and a $99.00 price target for the company. Zacks Investment Research upgraded West Pharmaceutical Services from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Bank of America lowered West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 price target for the company. in a report on Tuesday, October 17th. Finally, Wells Fargo & Co boosted their price target on West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $106.00.
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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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