Zacks Research Analysts Reduce Earnings Estimates for West Pharmaceutical Services, Inc. (NYSE:WST)

West Pharmaceutical Services, Inc. (NYSE:WSTFree Report) – Equities researchers at Zacks Research lowered their Q2 2024 earnings per share estimates for shares of West Pharmaceutical Services in a research report issued on Thursday, May 16th. Zacks Research analyst I. Bandyopadhyay now forecasts that the medical instruments supplier will post earnings of $1.77 per share for the quarter, down from their prior estimate of $1.97. The consensus estimate for West Pharmaceutical Services’ current full-year earnings is $7.76 per share. Zacks Research also issued estimates for West Pharmaceutical Services’ Q3 2024 earnings at $2.10 EPS, FY2024 earnings at $7.66 EPS, Q3 2025 earnings at $2.42 EPS and FY2025 earnings at $9.06 EPS.

West Pharmaceutical Services (NYSE:WSTGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The medical instruments supplier reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.27. The company had revenue of $695.40 million during the quarter, compared to the consensus estimate of $670.62 million. West Pharmaceutical Services had a return on equity of 20.57% and a net margin of 19.42%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS.

Other research analysts have also recently issued reports about the company. UBS Group lowered their price target on West Pharmaceutical Services from $400.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. StockNews.com cut West Pharmaceutical Services from a “buy” rating to a “hold” rating in a report on Friday, February 16th. KeyCorp boosted their price target on West Pharmaceutical Services from $440.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Finally, Jefferies Financial Group raised West Pharmaceutical Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $323.00 to $536.00 in a report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, West Pharmaceutical Services has a consensus rating of “Moderate Buy” and an average price target of $435.20.

Read Our Latest Stock Analysis on WST

West Pharmaceutical Services Trading Down 1.7 %

Shares of NYSE:WST opened at $337.01 on Monday. The stock has a 50 day moving average of $377.25 and a 200 day moving average of $364.30. The company has a market cap of $24.55 billion, a PE ratio of 44.46, a price-to-earnings-growth ratio of 6.28 and a beta of 1.05. The company has a current ratio of 2.61, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. West Pharmaceutical Services has a 12-month low of $310.42 and a 12-month high of $415.73.

West Pharmaceutical Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.80 annualized dividend and a dividend yield of 0.24%. West Pharmaceutical Services’s dividend payout ratio (DPR) is 10.55%.

Insider Transactions at West Pharmaceutical Services

In related news, CAO Chad Winters sold 815 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $358.82, for a total transaction of $292,438.30. Following the sale, the chief accounting officer now owns 1,309 shares in the company, valued at approximately $469,695.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Chad Winters sold 815 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $358.82, for a total transaction of $292,438.30. Following the sale, the chief accounting officer now owns 1,309 shares in the company, valued at approximately $469,695.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Charles Witherspoon sold 2,019 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $358.62, for a total value of $724,053.78. Following the sale, the vice president now owns 1,979 shares in the company, valued at approximately $709,708.98. The disclosure for this sale can be found here. Insiders have sold 139,978 shares of company stock valued at $50,852,672 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On West Pharmaceutical Services

Hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC bought a new position in West Pharmaceutical Services in the 1st quarter valued at $27,000. Quarry LP grew its position in West Pharmaceutical Services by 155.3% in the 4th quarter. Quarry LP now owns 97 shares of the medical instruments supplier’s stock valued at $34,000 after acquiring an additional 59 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new position in West Pharmaceutical Services in the 1st quarter valued at $40,000. Northwest Investment Counselors LLC bought a new position in West Pharmaceutical Services in the 1st quarter valued at $40,000. Finally, Planned Solutions Inc. bought a new position in West Pharmaceutical Services in the 4th quarter valued at $39,000. Institutional investors own 93.90% of the company’s stock.

About West Pharmaceutical Services

(Get Free Report)

West Pharmaceutical Services, Inc designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products.

See Also

Earnings History and Estimates for West Pharmaceutical Services (NYSE:WST)

Receive News & Ratings for West Pharmaceutical Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for West Pharmaceutical Services and related companies with MarketBeat.com's FREE daily email newsletter.