Wells Fargo Downgrades West Pharmaceutical Services to Market Perform

Brokerage firm Wells Fargo Downgrades its rating on West Pharmaceutical Services(NYSE:WST). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Wells Fargo was issued on Sep 21, 2016.

In a different note, On Jul 29, 2016, Jefferies said it Maintains its rating on West Pharmaceutical Services. In the research note, the firm Raises the price-target to $67.00 per share. The shares have been rated ‘Hold’ by the firm.

West Pharmaceutical Services (WST) remained unchanged at the close of Tuesday session. Even as the volume increased to 3,70,854 ,the shares failed to make any impression and ended at 0 points or 0.00% at $81.32. The trading session commenced at $82 and the stock hit a high of $82.11 and touched $81.305 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $84.33 and the 52-week low is $52.79. The company has a market cap of $5,954 M and has approximately 7,32,17,998 outstanding shares.

West Pharmaceutical Services has also declared a cash dividend of $0.1300 on Sep 12, 2016. The shares will quote ex-dividend on Oct 17, 2016 and the record date has been fixed on Oct 19, 2016. The dividend payable date has been fixed on Nov 2, 2016.

West Pharmaceutical Services(WST) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $388.00M. Analysts had an estimated revenue of $384.58M. Earnings per share were $0.59. Analysts had estimated an EPS of $0.56.

Several Insider Transactions has been reported to the SEC. On Sep 7, 2016, Karen Flynn (Sr VP & Chief Commercial Offic) sold 14,581 shares at $83.28 per share price.Also, On Aug 24, 2016, Paula A Johnson (director) sold 3,042 shares at $81.55 per share price.On Jun 2, 2016, Daniel Malone (Vice President & Controller) sold 3,950 shares at $74.95 per share price, according to the Form-4 filing with the securities and exchange commission.

West Pharmaceutical Services Inc. is a manufacturer of components and systems for the packaging and delivery of injectable drugs as well as delivery system components for the pharmaceutical healthcare and consumer products industries. The Company’s products include stoppers and seals for vials prefillable syringe components and systems components for intravenous and blood collection systems safety and administration systems advanced injection systems and contract design and manufacturing services. The Company’s customers include producers of pharmaceuticals biologics medical devices and personal care products. The Company’s reportable segments include Pharmaceutical Packaging Systems segment (Packaging Systems) and the Pharmaceutical Delivery Systems segment (Delivery Systems).

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