Bank of America Boosts West Pharmaceutical Services (NYSE:WST) Price Target to $355.00

West Pharmaceutical Services (NYSE:WST) had its price objective raised by stock analysts at Bank of America from $350.00 to $355.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Bank of America‘s price objective indicates a potential upside of 7.56% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Wolfe Research started coverage on shares of West Pharmaceutical Services in a research report on Friday. They issued a “peer perform” rating on the stock. UBS Group raised West Pharmaceutical Services from a “neutral” rating to a “buy” rating and increased their target price for the company from $350.00 to $390.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $437.75.

West Pharmaceutical Services Stock Down 0.5 %

Shares of NYSE WST opened at $330.05 on Friday. West Pharmaceutical Services has a 12-month low of $265.00 and a 12-month high of $413.70. The stock has a market cap of $23.90 billion, a P/E ratio of 48.97, a PEG ratio of 25.04 and a beta of 1.01. The company has a current ratio of 3.00, a quick ratio of 2.23 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $312.73 and its 200-day simple moving average is $311.73.

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

Insider Activity at West Pharmaceutical Services

In other West Pharmaceutical Services news, VP Charles Witherspoon sold 703 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $310.40, for a total value 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. The trade was a 35.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On West Pharmaceutical Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its position in West Pharmaceutical Services by 199.4% during the 3rd quarter. FMR LLC now owns 595,775 shares of the medical instruments supplier’s stock worth $178,828,000 after acquiring an additional 396,780 shares during the period. LGT Group Foundation purchased a new stake in shares of West Pharmaceutical Services during the second quarter worth approximately $68,854,000. Liontrust Investment Partners LLP acquired a new stake in shares of West Pharmaceutical Services during the second quarter worth $64,196,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in West Pharmaceutical Services by 21.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 683,350 shares of the medical instruments supplier’s stock valued at $205,114,000 after buying an additional 122,361 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in West Pharmaceutical Services by 29.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 444,000 shares of the medical instruments supplier’s stock valued at $133,271,000 after buying an additional 101,710 shares during the period. Hedge funds and other institutional investors own 93.90% of the company’s stock.

About West Pharmaceutical Services

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.