Western Pharmaceutical Services (NYSE: WST) has been downgraded from Zacks investment research from a “buy” note to a “keep” note in a report published on Saturday, Zacks.com reports. They currently have a price target of $ 450.00 on the medical device vendor’s inventory. Zacks investment researchThe company’s target price would indicate a potential rise of 15.25% from the company’s previous close.
According to Zacks, “West Pharmaceutical continued to profit from its two segments, Proprietary Products and Contract Manufactured Products, in the third quarter of 2021, which drove revenue for some time. Supported by the strength displayed during the quarter, the company raised the outlook for 2021, instilling more confidence. The Company’s High Value Added (HVP) products continue to generate higher gross and operating margins. It continues to see strong adoption of HVP components, which include Westar, FluroTec, Envision and NovaPure offerings as well as Daikyo’s Crystal Zenith. A strong solvency position is an added advantage. The company’s third quarter results were better than expected. Shares of West Pharmaceutical have outperformed its sector over the past six months. Yet currency issues and information security breaches remain headwinds. “
NYSE WST shares opened at $ 390.47 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.23 and a debt ratio of 0.10. West Pharmaceutical Services has a 12 month low of $ 253.85 and a 12 month high of $ 475.35. The stock has a 50-day moving average of $ 436.44 and a 200-day moving average of $ 422.56. The company has a market cap of $ 28.93 billion, a P / E ratio of 48.45, a P / E / G ratio of 2.00 and a beta of 0.97.
West Pharmaceutical Services (NYSE: WST) last released its results on Thursday, October 28. The medical device supplier reported EPS of $ 2.06 for the quarter, beating Thomson Reuters consensus estimate of $ 1.80 by $ 0.26. West Pharmaceutical Services recorded a return on equity of 30.35% and a net margin of 22.85%. The company posted revenue of $ 706.50 million in the quarter, compared to a consensus estimate of $ 687.09 million. During the same period of the previous year, the company posted EPS of $ 1.15. The company’s revenue for the quarter increased 28.9% from the same quarter last year. Analysts expect West Pharmaceutical Services to post 8.49 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its stake in West Pharmaceutical Services by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,765 shares of the medical device supplier valued at $ 2,023,000 after purchasing 23 additional shares during the period. Global Retirement Partners LLC increased its stake in West Pharmaceutical Services by 39.1% in the 3rd quarter. Global Retirement Partners LLC now owns 96 shares of the medical device supplier valued at $ 41,000 after purchasing 27 additional shares during the period. Eudaimonia Partners LLC increased its position in shares of West Pharmaceutical Services by 1.7% during the 3rd quarter. Eudaimonia Partners LLC now owns 1,674 shares of the medical device supplier valued at $ 711,000 after acquiring 28 additional shares during the period. Rehmann Capital Advisory Group increased its position in West Pharmaceutical Services shares by 4.0% in the second quarter. Rehmann Capital Advisory Group now owns 851 shares of the medical device supplier valued at $ 309,000 after acquiring 33 additional shares during the period. Finally, IFM Investors Pty Ltd increased its position in West Pharmaceutical Services shares by 0.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 9,580 shares of the medical device supplier valued at $ 4,067,000 after acquiring 34 additional shares during the period. Institutional investors and hedge funds hold 92.65% of the company’s shares.
About West Pharmaceutical Services
West Pharmaceutical Services, Inc manufactures and markets pharmaceuticals, biologics, vaccines, and consumer health products. It operates through the following business sectors: Exclusive Products and Contract Manufactured Products. The Proprietary Products segment offers proprietary drug packaging, containment and delivery products, as well as analytical laboratory services, to biologic, generic and pharmaceutical customers.
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