West Pharmaceutical Services (NYSE:WST) Reports Quarterly Earnings, Exceeds EPS Expectations of $0.28

West Pharmaceutical Services (NYSE: WST- Get a rating) released its quarterly earnings data on Thursday. The medical device supplier reported earnings per share (EPS) of $2.47 for the quarter, beating the consensus estimate of $2.19 by $0.28, Briefing.com reports. West Pharmaceutical Services had a return on equity of 30.33% and a net margin of 23.76%. The company posted revenue of $771.30 million for the quarter, compared to $754.25 million expected by analysts. During the same period a year earlier, the company posted EPS of $2.46. West Pharmaceutical Services revenue increased 6.6% compared to the same quarter last year. West Pharmaceutical Services updated its FY22 guidance to EPS of $9.00-9.15 and its FY2022 guidance to EPS of $9.00-9.15.

Western Pharmacy Services Price Performance

Shares of West Pharmaceutical Services traded at $4.47 on Friday, hitting $344.39. 24,461 shares of the company were traded, against an average volume of 441,441. The stock has a market capitalization of $25.51 billion, a price-earnings ratio of 37.77, a price-earnings ratio of growth of 3.64 and a beta of 1.13. The company has a 50-day moving average price of $304.27 and a 200-day moving average price of $349.46. West Pharmaceutical Services has a 1-year low of $275.89 and a 1-year high of $475.35. The company has a quick ratio of 2.18, a current ratio of 2.89 and a debt ratio of 0.09.

Institutional entries and exits

Several institutional investors and hedge funds have recently changed their positions in WST. Wetherby Asset Management Inc. increased its position in shares of West Pharmaceutical Services by 5.7% during the first quarter. Wetherby Asset Management Inc. now owns 822 shares of the medical device supplier worth $338,000 after acquiring 44 additional shares during the period. Lido Advisors LLC increased its stake in shares of West Pharmaceutical Services by 2.5% during the first quarter. Lido Advisors LLC now owns 2,572 shares of the medical device supplier worth $1,056,000 after buying 62 additional shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of West Pharmaceutical Services by 0.9% in the first quarter. Mackenzie Financial Corp now owns 9,963 shares of the medical device supplier worth $4,092,000 after buying 89 more shares last quarter. Captrust Financial Advisors increased its stake in shares of West Pharmaceutical Services by 0.4% in the first quarter. Captrust Financial Advisors now owns 27,293 shares of the medical device supplier worth $11,210,000 after buying 101 additional shares last quarter. Finally, Covestor Ltd increased its stake in shares of West Pharmaceutical Services by 70.9% during the first quarter. Covestor Ltd now owns 258 shares of the medical device supplier worth $106,000 after buying 107 more shares in the last quarter. 93.25% of the shares are currently held by institutional investors and hedge funds.

Analysts set new price targets

Separately, StockNews.com upgraded West Pharmaceutical Services from a “buy” rating to a “hold” rating in a Thursday, April 28, report.

About West Pharmaceutical Services

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

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Earnings History for West Pharmaceutical Services (NYSE:WST)

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