West Pharmaceutical Services (NYSE:WST) Stock Passes Above 200-Day Moving Average – Here’s Why

West Pharmaceutical Services, Inc. (NYSE:WST)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $312.04 and traded as high as $331.66. West Pharmaceutical Services shares last traded at $327.56, with a volume of 301,188 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on WST shares. UBS Group raised shares of West Pharmaceutical Services from a “neutral” rating to a “buy” rating and raised their target price for the company from $350.00 to $390.00 in a report on Thursday, December 12th. Bank of America raised their price objective on shares of West Pharmaceutical Services from $350.00 to $355.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Wolfe Research started coverage on shares of West Pharmaceutical Services in a research report on Friday, December 13th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $437.75.

West Pharmaceutical Services Trading Up 2.4 %

The company has a market cap of $24.35 billion, a price-to-earnings ratio of 49.89, a PEG ratio of 25.04 and a beta of 1.01. The company has a quick ratio of 2.23, a current ratio of 3.00 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $323.25 and its two-hundred day simple moving average is $312.26.

West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.35. The firm had revenue of $746.90 million during the quarter, compared to analysts’ expectations of $709.62 million. West Pharmaceutical Services had a net margin of 17.37% and a return on equity of 18.41%. West Pharmaceutical Services’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 earnings per share. On average, equities analysts predict that West Pharmaceutical Services, Inc. will post 6.64 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th were paid a $0.21 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.84 dividend on an annualized basis and a yield of 0.25%. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.20. West Pharmaceutical Services’s payout ratio is currently 12.46%.

Insider Activity

In other news, VP Charles Witherspoon sold 703 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $310.40, for a total transaction of $218,211.20. Following the completion of the sale, the vice president now owns 1,253 shares in the company, valued at approximately $388,931.20. This represents a 35.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of West Pharmaceutical Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in WST. Northwest Investment Counselors LLC acquired a new stake in shares of West Pharmaceutical Services in the 3rd quarter worth $30,000. Brooklyn Investment Group purchased a new position in West Pharmaceutical Services during the third quarter worth about $41,000. Quest Partners LLC lifted its position in West Pharmaceutical Services by 5,633.3% in the second quarter. Quest Partners LLC now owns 172 shares of the medical instruments supplier’s stock valued at $57,000 after purchasing an additional 169 shares during the period. Eastern Bank acquired a new stake in shares of West Pharmaceutical Services in the 3rd quarter valued at approximately $82,000. Finally, Trust Co. of Vermont acquired a new position in West Pharmaceutical Services during the third quarter worth $90,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

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.