Formidable Asset Management LLC purchased a new stake in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) during the third quarter, Holdings Channel reports. The firm purchased 1,610 shares of the medical instruments supplier’s stock, valued at approximately $597,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Addison Advisors LLC acquired a new stake in shares of West Pharmaceutical Services during the 2nd quarter worth about $28,000. Avalon Trust Co acquired a new position in West Pharmaceutical Services in the second quarter valued at about $28,000. Cornerstone Planning Group LLC boosted its position in West Pharmaceutical Services by 90.9% in the first quarter. Cornerstone Planning Group LLC now owns 105 shares of the medical instruments supplier’s stock valued at $26,000 after buying an additional 50 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in West Pharmaceutical Services by 1,377.8% during the second quarter. Elevation Wealth Partners LLC now owns 133 shares of the medical instruments supplier’s stock worth $48,000 after buying an additional 124 shares during the last quarter. Finally, Raiffeisen Bank International AG grew its stake in West Pharmaceutical Services by 95.6% during the second quarter. Raiffeisen Bank International AG now owns 133 shares of the medical instruments supplier’s stock worth $47,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.
West Pharmaceutical Services Stock Down 0.0%
Shares of West Pharmaceutical Services stock opened at $399.62 on Monday. The business has a fifty day simple moving average of $373.06 and a 200 day simple moving average of $316.61. The stock has a market cap of $27.84 billion, a PE ratio of 44.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.13. The company has a quick ratio of 2.10, a current ratio of 2.82 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a 12 month low of $223.83 and a 12 month high of $438.27.
West Pharmaceutical Services (NYSE:WST – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The medical instruments supplier reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.46. The business had revenue of $874.50 million for the quarter, compared to analyst estimates of $827.12 million. West Pharmaceutical Services had a net margin of 18.81% and a return on equity of 21.78%. West Pharmaceutical Services’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 EPS. Research analysts predict that West Pharmaceutical Services, Inc. will post 9.46 EPS for the current year.
West Pharmaceutical Services Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Wednesday, November 11th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.22. West Pharmaceutical Services’s dividend payout ratio (DPR) is currently 11.67%.
Insider Buying and Selling at West Pharmaceutical Services
In other West Pharmaceutical Services news, VP Annette Favorite sold 8,135 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $340.81, for a total value of $2,772,489.35. Following the sale, the vice president owned 16,845 shares in the company, valued at $5,740,944.45. This represents a 32.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 15,659 shares of company stock worth $5,443,749. 0.60% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms recently commented on WST. TD Cowen increased their price target on West Pharmaceutical Services from $420.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Weiss Ratings upgraded West Pharmaceutical Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, November 2nd. Evercore reiterated an “outperform” rating and issued a $425.00 price objective on shares of West Pharmaceutical Services in a research report on Monday, July 27th. Zacks Research lowered West Pharmaceutical Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Finally, Morgan Stanley upgraded West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $365.00 to $400.00 in a report on Tuesday, September 22nd. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, West Pharmaceutical Services presently has an average rating of “Moderate Buy” and a consensus price target of $424.67.
View Our Latest Stock Report on WST
About West Pharmaceutical Services
West Pharmaceutical Services designs and manufactures packaging components and delivery systems used by the pharmaceutical, biotechnology, and medical device industries. Its products help contain and administer injectable medicines and include elastomeric components, such as stoppers and seals, as well as syringe components and other packaging and delivery solutions.
The company also provides contract manufacturing services for medical devices and pharmaceutical delivery systems. Its customers include companies developing and producing branded, generic, and biologic medicines.
Founded in 1923 by Herman O.
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