Share Repurchase Plan Initiated by West Pharmaceutical Services (WST)

West Pharmaceutical Services (NYSE:WST) declared that its board has authorized a stock repurchase plan, which allows the company to buyback 800,000 outstanding shares on Thursday, February 15th, EventVestor reports. This buyback authorization allows the medical instruments supplier to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

WST has been the topic of several recent analyst reports. Zacks Investment Research raised West Pharmaceutical Services from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Wells Fargo & Co upped their price target on West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Finally, Goldman Sachs Group initiated coverage on West Pharmaceutical Services in a research report on Wednesday, January 24th. They set a “neutral” rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. West Pharmaceutical Services has an average rating of “Hold” and an average target price of $108.17.

West Pharmaceutical Services (WST) opened at $87.45 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.59 and a quick ratio of 1.87. West Pharmaceutical Services has a 52 week low of $77.97 and a 52 week high of $103.36. The company has a market capitalization of $6,559.50, a PE ratio of 43.94, a price-to-earnings-growth ratio of 1.87 and a beta of 1.04.

West Pharmaceutical Services (NYSE:WST) last issued its earnings results on Thursday, February 15th. The medical instruments supplier reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. West Pharmaceutical Services had a return on equity of 14.79% and a net margin of 9.42%. The firm had revenue of $415.60 million for the quarter, compared to the consensus estimate of $416.90 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. equities research analysts forecast that West Pharmaceutical Services will post 2.9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Wednesday, April 18th will be paid a $0.14 dividend. The ex-dividend date is Tuesday, April 17th. This represents a $0.56 dividend on an annualized basis and a yield of 0.64%. West Pharmaceutical Services’s dividend payout ratio (DPR) is currently 28.14%.

In other West Pharmaceutical Services news, CFO William J. Federici sold 21,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $99.01, for a total value of $2,079,210.00. Following the transaction, the chief financial officer now owns 190,493 shares in the company, valued at $18,860,711.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

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About West Pharmaceutical Services

West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.

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