West Pharmaceutical Services (NYSE:WST) Issues Quarterly Earnings Results

West Pharmaceutical Services (NYSE:WST) released its quarterly earnings data on Thursday. The medical instruments supplier reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.34, Briefing.com reports. West Pharmaceutical Services had a net margin of 18.25% and a return on equity of 19.17%. The company had revenue of $746.90 million for the quarter, compared to analysts’ expectations of $709.62 million. During the same quarter last year, the company earned $2.16 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. West Pharmaceutical Services updated its FY 2024 guidance to 6.550-6.750 EPS and its FY24 guidance to $6.55 to $6.75 EPS.

West Pharmaceutical Services Stock Down 6.9 %

WST opened at $307.92 on Friday. The stock has a market capitalization of $22.43 billion, a P/E ratio of 40.62, a price-to-earnings-growth ratio of 10.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.68 and a current ratio of 2.34. West Pharmaceutical Services has a one year low of $265.00 and a one year high of $413.70. The business’s 50-day simple moving average is $300.51 and its 200-day simple moving average is $322.27.

West Pharmaceutical Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.21 per share. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, November 13th. This represents a $0.84 annualized dividend and a dividend yield of 0.27%. West Pharmaceutical Services’s dividend payout ratio (DPR) is presently 11.08%.

Insider Buying and Selling

In other news, VP Charles Witherspoon sold 1,029 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $300.00, for a total value of $308,700.00. Following the completion of the sale, the vice president now directly owns 1,478 shares of the company’s stock, valued at approximately $443,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.

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.