Truist Financial Corp Cuts Stock Holdings in West Pharmaceutical Services, Inc. $WST

Truist Financial Corp reduced its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,759 shares of the medical instruments supplier’s stock after selling 655 shares during the period. Truist Financial Corp’s holdings in West Pharmaceutical Services were worth $3,667,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Janney Montgomery Scott LLC raised its stake in shares of West Pharmaceutical Services by 6.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 50,631 shares of the medical instruments supplier’s stock worth $11,078,000 after buying an additional 3,212 shares in the last quarter. V Square Quantitative Management LLC raised its position in West Pharmaceutical Services by 5.1% in the second quarter. V Square Quantitative Management LLC now owns 2,486 shares of the medical instruments supplier’s stock worth $544,000 after acquiring an additional 120 shares in the last quarter. Revisor Wealth Management LLC raised its position in West Pharmaceutical Services by 10.3% in the second quarter. Revisor Wealth Management LLC now owns 1,547 shares of the medical instruments supplier’s stock worth $354,000 after acquiring an additional 144 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of West Pharmaceutical Services in the 2nd quarter valued at about $328,000. Finally, GAMMA Investing LLC increased its holdings in shares of West Pharmaceutical Services by 124.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,414 shares of the medical instruments supplier’s stock valued at $309,000 after purchasing an additional 784 shares in the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on WST shares. Zacks Research cut shares of West Pharmaceutical Services from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Evercore ISI set a $350.00 price objective on West Pharmaceutical Services in a research note on Tuesday. Wall Street Zen raised West Pharmaceutical Services from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Barclays raised their price target on West Pharmaceutical Services from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Finally, Rothschild & Co Redburn initiated coverage on West Pharmaceutical Services in a research report on Monday, September 15th. They issued a “buy” rating and a $311.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.89.

West Pharmaceutical Services Stock Up 0.7%

WST stock opened at $267.91 on Thursday. The stock has a market capitalization of $19.27 billion, a P/E ratio of 40.11, a PEG ratio of 4.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.08 and a current ratio of 2.78. West Pharmaceutical Services, Inc. has a one year low of $187.43 and a one year high of $352.33. The company has a 50 day moving average price of $251.44 and a two-hundred day moving average price of $229.47.

West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.33. The business had revenue of $766.50 million during the quarter, compared to the consensus estimate of $725.11 million. West Pharmaceutical Services had a return on equity of 18.43% and a net margin of 16.48%.The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 earnings per share. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. As a group, sell-side analysts expect that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be issued a $0.22 dividend. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, November 12th. This represents a $0.88 annualized dividend and a yield of 0.3%. West Pharmaceutical Services’s dividend payout ratio (DPR) is presently 12.57%.

West Pharmaceutical Services Company Profile

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.