West Pharmaceutical Services Inc. (NYSE:WST) announced a quarterly dividend on Friday, December 22nd, Zacks reports. Stockholders of record on Thursday, January 18th will be given a dividend of 0.14 per share by the medical instruments supplier on Thursday, February 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, January 17th.
West Pharmaceutical Services has increased its dividend by an average of 8.9% annually over the last three years and has increased its dividend annually for the last 25 consecutive years. West Pharmaceutical Services has a dividend payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect West Pharmaceutical Services to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 19.3%.
Shares of West Pharmaceutical Services (NYSE WST) traded down $1.23 during trading hours on Friday, hitting $98.81. 200,460 shares of the company were exchanged, compared to its average volume of 314,091. The company has a market capitalization of $7,340.00, a price-to-earnings ratio of 39.37, a PEG ratio of 2.13 and a beta of 1.04. The company has a current ratio of 2.59, a quick ratio of 1.87 and a debt-to-equity ratio of 0.15. West Pharmaceutical Services has a fifty-two week low of $77.97 and a fifty-two week high of $103.36.
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 transaction of $2,079,210.00. Following the sale, the chief financial officer now owns 190,493 shares in the company, valued at approximately $18,860,711.93. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by insiders.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Saturday. Goldman Sachs Group began coverage on shares of West Pharmaceutical Services in a report on Wednesday, January 24th. They set a “neutral” rating and a $110.00 price target for the company. Wells Fargo & Co boosted their price target on shares of West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Finally, Bank of America cut shares of West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 price objective on the stock. in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $108.17.
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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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