Hsbc Holdings PLC bought a new position in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm bought 138,384 shares of the medical instruments supplier’s stock, valued at approximately $49,576,000.
Several other hedge funds also recently made changes to their positions in WST. PDT Partners LLC purchased a new stake in West Pharmaceutical Services during the 2nd quarter valued at $3,350,000. Canada Pension Plan Investment Board purchased a new position in shares of West Pharmaceutical Services in the second quarter valued at about $8,282,000. Legal & General Group Plc bought a new position in shares of West Pharmaceutical Services during the second quarter valued at about $176,138,000. The Manufacturers Life Insurance Company bought a new position in shares of West Pharmaceutical Services during the second quarter valued at about $15,502,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of West Pharmaceutical Services during the second quarter worth about $50,000. 93.90% of the stock is owned by hedge funds and other institutional investors.
West Pharmaceutical Services Price Performance
WST stock opened at $350.68 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.12 and a current ratio of 2.82. The firm has a 50 day moving average price of $349.99 and a 200-day moving average price of $302.68. West Pharmaceutical Services, Inc. has a 52-week low of $223.83 and a 52-week high of $386.00. The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of 44.90, a PEG ratio of 2.44 and a beta of 1.15.
West Pharmaceutical Services Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 29th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, July 29th. West Pharmaceutical Services’s payout ratio is 11.27%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on WST. Zacks Research downgraded West Pharmaceutical Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Weiss Ratings upgraded West Pharmaceutical Services from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Stephens reiterated an “overweight” rating and issued a $360.00 price objective on shares of West Pharmaceutical Services in a research report on Tuesday, June 2nd. Barclays raised West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $310.00 to $400.00 in a research note on Tuesday, June 9th. Finally, TD Cowen restated a “buy” rating on shares of West Pharmaceutical Services in a report on Wednesday, July 15th. One research 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 stock. Based on data from MarketBeat, West Pharmaceutical Services has an average rating of “Moderate Buy” and an average price target of $368.08.
Check Out 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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