West Pharmaceutical Services (NYSE:WST) Issues FY24 Earnings Guidance

West Pharmaceutical Services (NYSE:WST) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.55 to $6.75 for the period, compared to the consensus estimate of $6.42. The company issued revenue guidance of $2.875 billion to $2.905 billion from $2.870 billion to $2.900, compared to the consensus revenue estimate of $2.87 billion. West Pharmaceutical Services also updated its FY 2024 guidance to 6.550-6.750 EPS.

West Pharmaceutical Services Stock Up 15.4 %

Shares of West Pharmaceutical Services stock traded up $44.21 during trading hours on Thursday, hitting $330.65. The company had a trading volume of 1,983,070 shares, compared to its average volume of 558,379. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.34 and a quick ratio of 1.68. The company’s 50-day moving average is $299.60 and its two-hundred day moving average is $322.81. The company has a market cap of $23.99 billion, a P/E ratio of 47.03, a price-to-earnings-growth ratio of 10.21 and a beta of 1.01. West Pharmaceutical Services has a twelve month low of $265.00 and a twelve month high of $413.70.

West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.22). West Pharmaceutical Services had a net margin of 18.25% and a return on equity of 19.17%. The company had revenue of $702.10 million during the quarter, compared to analyst estimates of $729.36 million. During the same quarter in the prior year, the company earned $2.11 EPS. The business’s revenue was down 6.9% on a year-over-year basis. Analysts anticipate that West Pharmaceutical Services will post 6.42 earnings per share for the current fiscal year.

Insider Activity at West Pharmaceutical Services

In other West Pharmaceutical Services news, VP Charles Witherspoon sold 1,029 shares of West Pharmaceutical Services stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $300.00, for a total transaction of $308,700.00. Following the transaction, the vice president now owns 1,478 shares of the company’s stock, valued at $443,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.53% 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.