NFJ Investment Group LLC bought a new position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor bought 21,614 shares of the medical instruments supplier’s stock, valued at approximately $7,759,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealth Alliance LLC lifted its holdings in West Pharmaceutical Services by 3.8% in the 1st quarter. Wealth Alliance LLC now owns 945 shares of the medical instruments supplier’s stock valued at $237,000 after acquiring an additional 35 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of West Pharmaceutical Services by 0.3% in the 1st quarter. IFM Investors Pty Ltd now owns 13,773 shares of the medical instruments supplier’s stock worth $3,452,000 after purchasing an additional 43 shares during the last quarter. Compound Planning Inc. grew its stake in shares of West Pharmaceutical Services by 3.6% in the 1st quarter. Compound Planning Inc. now owns 1,224 shares of the medical instruments supplier’s stock worth $307,000 after purchasing an additional 43 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of West Pharmaceutical Services by 5.5% in the 4th quarter. Aptus Capital Advisors LLC now owns 905 shares of the medical instruments supplier’s stock worth $249,000 after purchasing an additional 47 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in shares of West Pharmaceutical Services by 90.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 105 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors.
West Pharmaceutical Services Price Performance
NYSE WST opened at $354.53 on Friday. The company has a current ratio of 2.82, a quick ratio of 2.12 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a 1 year low of $223.83 and a 1 year high of $386.00. The company has a market cap of $24.95 billion, a PE ratio of 45.39, a PEG ratio of 2.47 and a beta of 1.15. The stock’s 50-day moving average price is $348.11 and its two-hundred day moving average price is $299.38.
West Pharmaceutical Services Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Wednesday, July 29th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. West Pharmaceutical Services’s dividend payout ratio (DPR) is currently 11.27%.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of West Pharmaceutical Services in a report on Monday, June 1st. They set an “outperform” rating and a $375.00 target price for the company. Weiss Ratings raised West Pharmaceutical Services from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Stephens reaffirmed an “overweight” rating and issued a $360.00 price target on shares of West Pharmaceutical Services in a report on Tuesday, June 2nd. KeyCorp increased their price objective on West Pharmaceutical Services from $350.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Finally, TD Cowen reissued a “buy” rating on shares of West Pharmaceutical Services in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $368.08.
Read Our Latest Report on West Pharmaceutical Services
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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