Yousif Capital Management LLC trimmed its holdings in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 10.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 28,687 shares of the medical instruments supplier’s stock after selling 3,336 shares during the period. Yousif Capital Management LLC’s holdings in West Pharmaceutical Services were worth $10,636,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the business. Root Financial Partners LLC purchased a new position in shares of West Pharmaceutical Services during the third quarter worth about $65,000. Axxcess Wealth Management LLC acquired a new position in West Pharmaceutical Services in the 3rd quarter valued at about $397,000. Crossmark Global Holdings Inc. increased its position in West Pharmaceutical Services by 8.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 12,173 shares of the medical instruments supplier’s stock valued at $4,513,000 after acquiring an additional 989 shares during the period. Nisa Investment Advisors LLC raised its stake in West Pharmaceutical Services by 1.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 36,920 shares of the medical instruments supplier’s stock valued at $13,688,000 after acquiring an additional 490 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in West Pharmaceutical Services by 75.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 43,717 shares of the medical instruments supplier’s stock valued at $16,209,000 after acquiring an additional 18,765 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.
Insider Transactions at West Pharmaceutical Services
In other news, VP Annette Favorite sold 8,135 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $340.81, for a total transaction of $2,772,489.35. Following the completion of the transaction, the vice president directly owned 16,845 shares of the company’s stock, valued at approximately $5,740,944.45. This represents a 32.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 15,659 shares of company stock worth $5,443,749. Insiders own 0.60% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. Citigroup increased their price objective on West Pharmaceutical Services from $400.00 to $412.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Morgan Stanley raised West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $365.00 to $400.00 in a report on Tuesday, September 22nd. Evercore reissued an “outperform” rating and issued a $425.00 target price on shares of West Pharmaceutical Services in a report on Monday, July 27th. Zacks Research cut West Pharmaceutical Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Finally, UBS Group increased their price target on West Pharmaceutical Services from $340.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $391.17.
West Pharmaceutical Services Trading Down 0.5%
Shares of West Pharmaceutical Services stock opened at $392.00 on Friday. The firm has a market cap of $27.59 billion, a price-to-earnings ratio of 50.19, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. West Pharmaceutical Services, Inc. has a 52-week low of $223.83 and a 52-week high of $397.15. The company’s 50-day simple moving average is $362.02 and its 200-day simple moving average is $337.18. 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 (NYSE:WST – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The medical instruments supplier reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.29. The firm had revenue of $872.30 million during the quarter, compared to the consensus estimate of $839.98 million. West Pharmaceutical Services had a net margin of 16.98% and a return on equity of 20.11%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. As a group, equities research analysts anticipate that West Pharmaceutical Services, Inc. will post 8.92 earnings per share for the current year.
West Pharmaceutical Services Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, November 10th. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.22. West Pharmaceutical Services’s payout ratio is presently 11.27%.
About West Pharmaceutical Services
West Pharmaceutical Services, Inc develops and manufactures components and delivery systems used in the administration and packaging of injectable medicines and other healthcare products. Its offerings include elastomer closures, seals, syringe components, drug-delivery systems, and other specialized packaging components designed to support the safety, quality, and performance of pharmaceutical products.
The company also provides contract-manufacturing services for pharmaceutical, biotechnology, and medical-device customers.
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