Patrick J. Zenner Purchases 275 Shares of West Pharmaceutical Services (WST) Stock

West Pharmaceutical Services (NYSE:WST) Director Patrick J. Zenner bought 275 shares of the company’s stock in a transaction on Tuesday, May 15th. The stock was purchased at an average price of $88.89 per share, with a total value of $24,444.75. Following the completion of the transaction, the director now directly owns 56,540 shares of the company’s stock, valued at approximately $5,025,840.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

West Pharmaceutical Services stock traded down $0.43 during trading hours on Thursday, hitting $88.42. The stock had a trading volume of 198,872 shares, compared to its average volume of 407,778. The company has a current ratio of 2.82, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $6.56 billion, a PE ratio of 31.81, a P/E/G ratio of 2.89 and a beta of 1.12. West Pharmaceutical Services has a one year low of $89.33 and a one year high of $90.06.

West Pharmaceutical Services (NYSE:WST) last posted its earnings results on Thursday, April 26th. The medical instruments supplier reported $0.62 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.02). West Pharmaceutical Services had a net margin of 8.20% and a return on equity of 14.40%. The firm had revenue of $415.70 million during the quarter, compared to the consensus estimate of $403.87 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. West Pharmaceutical Services’s revenue for the quarter was up 7.2% compared to the same quarter last year. analysts predict that West Pharmaceutical Services will post 2.81 earnings per share for the current fiscal year.

West Pharmaceutical Services declared that its Board of Directors has initiated a share buyback program on Thursday, February 15th that authorizes the company to buyback 800,000 shares. This buyback authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Wednesday, July 18th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, July 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.63%. West Pharmaceutical Services’s dividend payout ratio (DPR) is 20.14%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Mason Street Advisors LLC raised its position in shares of West Pharmaceutical Services by 1.6% during the first quarter. Mason Street Advisors LLC now owns 37,161 shares of the medical instruments supplier’s stock worth $3,281,000 after acquiring an additional 579 shares during the last quarter. Comerica Bank raised its position in shares of West Pharmaceutical Services by 0.9% during the fourth quarter. Comerica Bank now owns 62,742 shares of the medical instruments supplier’s stock worth $6,293,000 after acquiring an additional 585 shares during the last quarter. Quest Investment Management LLC raised its position in shares of West Pharmaceutical Services by 2.2% during the first quarter. Quest Investment Management LLC now owns 28,316 shares of the medical instruments supplier’s stock worth $2,500,000 after acquiring an additional 609 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of West Pharmaceutical Services by 2.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 22,990 shares of the medical instruments supplier’s stock worth $2,030,000 after acquiring an additional 610 shares during the last quarter. Finally, Paloma Partners Management Co raised its position in shares of West Pharmaceutical Services by 17.5% during the fourth quarter. Paloma Partners Management Co now owns 4,424 shares of the medical instruments supplier’s stock worth $437,000 after acquiring an additional 659 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

WST has been the subject of several research reports. Goldman Sachs initiated coverage on West Pharmaceutical Services in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $110.00 target price for the company. Zacks Investment Research upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Saturday, February 3rd. Bank of America downgraded West Pharmaceutical Services from a “neutral” rating to an “underperform” rating and set a $85.00 target price for the company. in a research report on Wednesday, April 25th. Finally, ValuEngine downgraded West Pharmaceutical Services from a “hold” rating to a “sell” rating in a research report on Saturday, April 7th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $106.00.

West Pharmaceutical Services Company Profile

West Pharmaceutical Services, Inc manufactures and sells containment and delivery systems for injectable drugs and healthcare products in the United States, Germany, France, Other European countries, and internationally. The company operates through two segments, Proprietary Products and Contract-Manufactured Products.

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