The Manufacturers Life Insurance Company purchased a new stake in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) in the second quarter, HoldingsChannel reports. The institutional investor purchased 43,187 shares of the medical instruments supplier’s stock, valued at approximately $15,502,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of WST. Wealth Alliance LLC raised its holdings in shares of 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 purchasing an additional 35 shares during the period. IFM Investors Pty Ltd lifted its stake in 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 valued at $3,452,000 after purchasing an additional 43 shares during the last quarter. Compound Planning Inc. grew its holdings in West Pharmaceutical Services by 3.6% during the first 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 period. Aptus Capital Advisors LLC increased its position in West Pharmaceutical Services by 5.5% during the fourth quarter. Aptus Capital Advisors LLC now owns 905 shares of the medical instruments supplier’s stock worth $249,000 after buying an additional 47 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its position in West Pharmaceutical Services by 90.9% during the first quarter. Cornerstone Planning Group LLC now owns 105 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Institutional investors own 93.90% of the company’s stock.
West Pharmaceutical Services Trading Down 2.3%
Shares of West Pharmaceutical Services stock opened at $338.21 on Friday. 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 of $350.55 and a 200-day moving average of $303.61. West Pharmaceutical Services, Inc. has a 52-week low of $223.83 and a 52-week high of $386.00. The stock has a market cap of $23.80 billion, a PE ratio of 43.30, a PEG ratio of 2.42 and a beta of 1.15.
West Pharmaceutical Services Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 29th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. West Pharmaceutical Services’s dividend payout ratio (DPR) is currently 11.27%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on WST. BNP Paribas Exane initiated coverage on West Pharmaceutical Services in a research report on Monday, July 13th. They issued an “outperform” rating and a $447.00 price objective for the company. Morgan Stanley boosted their target price on West Pharmaceutical Services from $325.00 to $365.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Barclays upgraded West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $310.00 to $400.00 in a research note on Tuesday, June 9th. Zacks Research downgraded West Pharmaceutical Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of West Pharmaceutical Services in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $368.08.
View Our Latest Stock Report on WST
West Pharmaceutical Services Profile
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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