Stone Ridge Asset Management LLC Purchases Shares of 9,290 West Pharmaceutical Services Inc. (WST)

Stone Ridge Asset Management LLC purchased a new position in West Pharmaceutical Services Inc. (NYSE:WST) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,290 shares of the medical instruments supplier’s stock, valued at approximately $917,000.

Several other institutional investors and hedge funds also recently modified their holdings of WST. Swiss National Bank boosted its position in shares of West Pharmaceutical Services by 0.8% in the 3rd quarter. Swiss National Bank now owns 123,000 shares of the medical instruments supplier’s stock worth $11,840,000 after purchasing an additional 1,000 shares in the last quarter. Sei Investments Co. boosted its position in shares of West Pharmaceutical Services by 2,696.4% in the 3rd quarter. Sei Investments Co. now owns 26,762 shares of the medical instruments supplier’s stock worth $2,576,000 after purchasing an additional 25,805 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of West Pharmaceutical Services by 1.5% in the 3rd quarter. New York State Common Retirement Fund now owns 163,900 shares of the medical instruments supplier’s stock worth $15,777,000 after purchasing an additional 2,500 shares in the last quarter. Rhumbline Advisers boosted its position in shares of West Pharmaceutical Services by 11.3% in the 3rd quarter. Rhumbline Advisers now owns 182,042 shares of the medical instruments supplier’s stock worth $17,523,000 after purchasing an additional 18,477 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of West Pharmaceutical Services by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 867,504 shares of the medical instruments supplier’s stock worth $83,506,000 after purchasing an additional 14,022 shares in the last quarter. 94.37% of the stock is currently owned by hedge funds and other institutional investors.

How to Become a New Pot Stock Millionaire

Several equities analysts recently issued reports on WST shares. Zacks Investment Research raised West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Saturday, February 3rd. Goldman Sachs started coverage on West Pharmaceutical Services in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $110.00 price objective on the stock. One 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 a consensus rating of “Hold” and an average target price of $108.17.

West Pharmaceutical Services Inc. (NYSE WST) opened at $90.04 on Tuesday. The stock has a market capitalization of $6,731.29, a P/E ratio of 37.60, a P/E/G ratio of 2.33 and a beta of 1.15. West Pharmaceutical Services Inc. has a 12-month low of $77.97 and a 12-month high of $103.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.66 and a quick ratio of 1.89.

West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings data on Thursday, February 15th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $415.60 million for the quarter, compared to analysts’ expectations of $416.90 million. West Pharmaceutical Services had a return on equity of 14.68% and a net margin of 9.42%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. equities analysts anticipate that West Pharmaceutical Services Inc. will post 2.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Investors of record on Wednesday, April 18th will be given a $0.14 dividend. The ex-dividend date is Tuesday, April 17th. This represents a $0.56 annualized dividend and a yield of 0.62%. West Pharmaceutical Services’s dividend payout ratio (DPR) is presently 28.14%.

West Pharmaceutical Services declared that its board has initiated a stock repurchase plan on Thursday, February 15th that allows the company to repurchase 800,000 outstanding shares. This repurchase authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: This article was first reported by Stock Observer and is owned by of Stock Observer. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and international copyright legislation. The original version of this article can be viewed at https://www.thestockobserver.com/2018/03/20/stone-ridge-asset-management-llc-purchases-shares-of-9290-west-pharmaceutical-services-inc-wst.html.

West Pharmaceutical Services Company Profile

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.

Want to see what other hedge funds are holding WST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for West Pharmaceutical Services Inc. (NYSE:WST).

Institutional Ownership by Quarter for West Pharmaceutical Services (NYSE:WST)

Receive News & Ratings for West Pharmaceutical Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for West Pharmaceutical Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply