Quantinno Capital Management LP lifted its position in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 53.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,478 shares of the medical instruments supplier’s stock after purchasing an additional 56,072 shares during the period. Quantinno Capital Management LP’s holdings in West Pharmaceutical Services were worth $40,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Brendel Financial Advisors LLC acquired a new position in shares of West Pharmaceutical Services in the fourth quarter worth $3,742,000. Birch Hill Investment Advisors LLC boosted its holdings in West Pharmaceutical Services by 11.5% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 152,148 shares of the medical instruments supplier’s stock valued at $41,862,000 after purchasing an additional 15,678 shares during the period. Bank of Nova Scotia boosted its holdings in West Pharmaceutical Services by 337.8% in the first quarter. Bank of Nova Scotia now owns 65,323 shares of the medical instruments supplier’s stock valued at $16,373,000 after purchasing an additional 50,402 shares during the period. Annex Advisory Services LLC grew its stake in West Pharmaceutical Services by 8.7% during the 4th quarter. Annex Advisory Services LLC now owns 122,958 shares of the medical instruments supplier’s stock worth $33,831,000 after purchasing an additional 9,800 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in West Pharmaceutical Services by 23.3% during the 4th quarter. Hsbc Holdings PLC now owns 146,872 shares of the medical instruments supplier’s stock worth $40,425,000 after purchasing an additional 27,745 shares in the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.
West Pharmaceutical Services Stock Up 0.5%
Shares of NYSE WST opened at $339.20 on Friday. The stock has a market cap of $23.87 billion, a PE ratio of 43.43, a price-to-earnings-growth ratio of 2.36 and a beta of 1.16. The company has a quick ratio of 2.12, a current ratio of 2.82 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a 52-week low of $223.83 and a 52-week high of $386.00. The business has a 50-day moving average price of $339.32 and a 200 day moving average price of $289.15.
West Pharmaceutical Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 29th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, July 29th. West Pharmaceutical Services’s dividend payout ratio is presently 11.27%.
Wall Street Analyst Weigh In
WST has been the subject of a number of analyst reports. Morgan Stanley upped their target price on shares of West Pharmaceutical Services from $325.00 to $365.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. BNP Paribas Exane started coverage on shares of West Pharmaceutical Services in a research note on Monday, July 13th. They issued an “outperform” rating and a $447.00 price target for the company. Wolfe Research initiated coverage on shares of West Pharmaceutical Services in a report on Monday, June 1st. They set an “outperform” rating and a $375.00 price target for the company. KeyCorp boosted their price target on shares of West Pharmaceutical Services from $350.00 to $390.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Finally, Evercore reissued an “outperform” rating and issued a $425.00 price objective on shares of West Pharmaceutical Services in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $364.42.
Read Our Latest Analysis on WST
About West Pharmaceutical Services
West Pharmaceutical Services, Inc is a global developer and manufacturer of components, systems and services that enable the containment and delivery of injectable drugs. The company focuses on high-quality packaging and delivery solutions for the pharmaceutical and biotech industries, producing primary drug packaging components and specialized drug delivery devices used for vaccines, biologics and other injectable therapies. West is known for its elastomeric closures, seals and polymer components that maintain sterility and compatibility with sensitive drug formulations.
In addition to component manufacturing, West provides engineered delivery systems and support services across the product lifecycle.
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