Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1381.3%
Neutral212.5%
Bearish16.2%
West Pharmaceutical Services, Inc. · WST · FY2026 Q3 · Calendar Q4 2026
West Pharmaceutical raises 2026 guidance as HVP demand drives Q3 growth
The Q3 analysis supports a constructive operating case for West Pharmaceutical: organic growth, HVP demand, biologics and GLP-1 activity, and a raised outlook indicate resilient demand. The key test is whether margin expansion and capacity investments translate into durable returns while reported growth absorbs the SmartDose divestiture effect.
Reported Before market openNYSEHealthcare
$28.41B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $2.20
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $827.1M
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+7.7%
Event window
SPY move
-0.5%
Same window
Abnormal move
+8.2%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
WSTSPY benchmark
Ask FN2 about WST FY2026 Q3
Transcript, numbers and history already loaded
What drove WST's +7.7% move after FY2026 Q3 earnings?What changed in WST's guidance and outlook in FY2026 Q3?Give me the bull and bear case for WST after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management reported another strong quarter, raised full-year revenue and EPS guidance again, lowered full-year CapEx, and identified more than 200 additional HVP upgrade projects as a multi-year tailwind. The SmartDose 3.5 divestiture is now complete and is expected to create a 290-basis-point headwind to next year's reported growth.
Guidance delta
Management raised full-year 2026 guidance to $3.41-$3.42 billion of revenue and $9.38-$9.48 of EPS, with expected margin expansion.
Key takeaways
- Q3 revenue was $874 million, with 12% organic growth and adjusted EPS up 36% year over year.
- HVP Components led growth, with the Proprietary Products segment at 53% of total revenue.
- Management lowered full-year capital spending to $215-$220 million while focusing on HVP finishing capacity.
- The company increased its dividend 18% and reported $685 million of share repurchases to date.
Management priorities
- Launch the next-generation SmartDose 10 self-injection system.
- Complete HVP finishing-capacity projects in Europe and the U.S. within 18-24 months.
- Improve demand planning through deeper customer relationships and expand manufacturing automation.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$425.79Current
$295Low
$372Average
$447High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Buy | Buy | Maintain | Oct 13, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 7, 2026 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Sep 22, 2026 |
| UBS | Buy | Buy | Maintain | Sep 9, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 3, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 27, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Jul 2, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jun 2, 2026 |
| B of A Securities | Buy | Buy | Maintain | Dec 13, 2024 |
| Jefferies | Buy | Hold | Upgrade | Feb 7, 2024 |
| Deutsche Bank | Hold | Hold | Maintain | Dec 14, 2022 |
| Bank of America | Underperform | Neutral | Downgrade | Dec 12, 2019 |
| William Blair | Outperform | Outperform | Maintain | Apr 23, 2019 |
| Goldman Sachs | Neutral | Neutral | Maintain | Jan 24, 2018 |
| Wells Fargo | Outperform | Outperform | Maintain | Oct 27, 2017 |
| Janney Capital | Buy | Buy | Maintain | Jan 8, 2016 |
Named analyst price targets
Upside is calculated against the persisted current price $425.78. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Luke Sergott | $440 | $372.64 | +3.3% | Oct 7, 2026 |
| Morgan Stanley | Kallum Titchmarsh | $400 | $361.73 | -6.1% | Sep 22, 2026 |
| UBS | Analyst unavailable | $415 | $338.06 | -2.5% | Sep 9, 2026 |
| Evercore ISI | Analyst unavailable | $425 | $333.12 | -0.2% | Jul 27, 2026 |
| BNP Paribas | Analyst unavailable | $447 | $353.71 | +5.0% | Jul 13, 2026 |
| Morgan Stanley | Analyst unavailable | $365 | $353.68 | -14.3% | Jul 9, 2026 |
| Evercore ISI | Daniel Markowitz | $410 | $359.27 | -3.7% | Jul 6, 2026 |
| KeyBanc | Analyst unavailable | $390 | $365 | -8.4% | Jul 2, 2026 |
| Barclays | Luke Sergott | $400 | $319.75 | -6.1% | Jun 9, 2026 |
| Morgan Stanley | Analyst unavailable | $315 | $306.39 | -26.0% | Apr 27, 2026 |
| Barclays | Analyst unavailable | $310 | $306.16 | -27.2% | Apr 27, 2026 |
| UBS | Dan Leonard | $340 | $246.6 | -20.1% | Feb 13, 2026 |
| Deutsche Bank | Analyst unavailable | $315 | $247.49 | -26.0% | Feb 13, 2026 |
| Barclays | Luke Sergott | $265 | $243.61 | -37.8% | Feb 13, 2026 |
| Jefferies | David Windley | $295 | $249.97 | -30.7% | Feb 10, 2026 |
| Evercore ISI | Daniel Markowitz | $320 | $237.88 | -24.8% | Feb 3, 2026 |
| Morgan Stanley | Analyst unavailable | $285 | $274.14 | -33.1% | Dec 1, 2025 |
| Barclays | Analyst unavailable | $325 | $293.62 | -23.7% | Oct 27, 2025 |
| UBS | Dan Leonard | $355 | $307.25 | -16.6% | Oct 24, 2025 |
| Deutsche Bank | Justin Bowers | $345 | $304.74 | -19.0% | Oct 24, 2025 |
| Evercore ISI | Daniel Markowitz | $390 | $309.28 | -8.4% | Oct 23, 2025 |
| Evercore ISI | Analyst unavailable | $350 | $268.07 | -17.8% | Oct 7, 2025 |
| Barclays | Analyst unavailable | $275 | $271.42 | -35.4% | Oct 2, 2025 |
| Redburn Partners | Jamie Clark | $311 | $257.53 | -27.0% | Sep 15, 2025 |
| Barclays | Luke Sergott | $245 | $222.68 | -42.5% | Jun 24, 2025 |
| Jefferies | David Windley | $393 | $287.85 | -7.7% | Nov 19, 2024 |
| Jefferies | David Windley | $536 | $413 | +25.9% | Feb 7, 2024 |
| Deutsche Bank | Analyst unavailable | $250 | $251.9 | -41.3% | Dec 14, 2022 |
| UBS | Analyst unavailable | $250 | $222.84 | -41.3% | Nov 30, 2022 |
Track every rating change on WST the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationWest Pharmaceutical Services, Inc. (WST) specializes in the development, manufacturing, and global distribution of essential containment and delivery solutions for injectable pharmaceuticals and other healthcare products. The company's operations span across the Americas, Europe, the Middle East, Africa, and the Asia Pacific region, structured into two primary business units: Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers a comprehensive array of components for injectable packaging, including stoppers and seals, alongside syringe and cartridge parts, which can be customized for specific injectable drug delivery requirements. It also provides advanced drug administration systems designed to enhance safe and effective delivery through sophisticated reconstitution, mixing, and transfer technologies.…
Historical context
All WST earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| INSM Insmed Incorporated | FY2026 Q3 · Calendar Q4 2026 | — | +13.8% | Insmed raises revenue outlook as BRINSUPRI passes $1 billion |
| TAK Takeda Pharmaceutical Company Limited | FY2026 Q2 · Calendar Q4 2026 | — | -1.0% | Takeda maintains FY2026 guidance as launches and savings advance |
| ALGN Align Technology, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1.1% | +1.1% | Align lowers 2026 guidance as consumer demand softens |
| GKOS Glaukos Corporation | FY2026 Q3 · Calendar Q4 2026 | +587.8% | +0.1% | Glaukos raises 2026 guidance after strong Epioxa and iDose growth |
| GEHC GE HealthCare Technologies Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.7% | +6.6% | GE HealthCare raises 2026 outlook as margins expand |
| LH Labcorp Holdings Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.0% | +8.8% | Labcorp raises 2026 outlook as specialty testing drives Q3 growth |
Latest beats and misses
Who reports nextBeat on EPS
- STRLFY2026 Q3 · October 28, 2026+22.3% EPS-0.4% move
- KGCFY2026 Q3 · October 28, 2026+8.7% EPS-6.1% move
- GENFY2027 Q2 · October 28, 2026+2.9% EPS+11.2% move
- KLACFY2027 Q1 · October 28, 2026+2.5% EPS+7.3% move
- SANFY2026 Q3 · October 28, 20260.0% EPS-6.3% move
- FFY2026 Q3 · October 28, 2026+19.5% EPS+1.4% move
Missed on EPS
- AWKFY2026 Q3 · October 28, 2026-2.0% EPS+1.1% move
- CPFY2026 Q3 · October 28, 2026-3.2% EPS-1.9% move
- LIIFY2026 Q3 · October 28, 2026-7.1% EPS-10.6% move
- EXRFY2026 Q3 · October 27, 2026-1.7% EPS+0.1% move
- NOWFY2026 Q3 · October 28, 2026-2.0% EPS-3.0% move
- CMGFY2026 Q3 · October 28, 2026-7.1% EPS+2.7% move
Get the WST recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-10-29T17:09:46.472554+00:00
- FN2 earnings calendar · 2026-10-29T01:23:20.584741+00:00
- Polygon adjusted daily market bars · 2026-10-29T17:30:43.142377+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-29T17:30:43.139668+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-29. For educational purposes only; not investment advice.