OP Asset Management Ltd acquired a new stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) in the first quarter, HoldingsChannel.com reports. The firm acquired 7,459 shares of the medical instruments supplier’s stock, valued at approximately $1,870,000.
Several other large investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of West Pharmaceutical Services by 2.1% during the 2nd quarter. State Street Corp now owns 3,271,866 shares of the medical instruments supplier’s stock valued at $715,884,000 after purchasing an additional 68,330 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of West Pharmaceutical Services by 2.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,850,401 shares of the medical instruments supplier’s stock worth $784,259,000 after purchasing an additional 79,481 shares during the period. Geode Capital Management LLC boosted its holdings in shares of West Pharmaceutical Services by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,869,086 shares of the medical instruments supplier’s stock worth $512,250,000 after buying an additional 11,962 shares during the last quarter. Generation Investment Management LLP grew its position in West Pharmaceutical Services by 60.0% during the fourth quarter. Generation Investment Management LLP now owns 1,561,869 shares of the medical instruments supplier’s stock valued at $429,733,000 after buying an additional 585,855 shares during the period. Finally, Morgan Stanley increased its holdings in West Pharmaceutical Services by 3.6% during the fourth quarter. Morgan Stanley now owns 1,531,858 shares of the medical instruments supplier’s stock valued at $421,476,000 after buying an additional 53,229 shares during the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.
West Pharmaceutical Services Stock Performance
NYSE:WST opened at $351.07 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.71 and a quick ratio of 2.04. West Pharmaceutical Services, Inc. has a 1 year low of $206.80 and a 1 year high of $352.31. The stock’s 50 day simple moving average is $313.84 and its two-hundred day simple moving average is $275.64. The company has a market cap of $24.80 billion, a price-to-earnings ratio of 46.93, a PEG ratio of 2.94 and a beta of 1.18.
Analysts Set New Price Targets
Several research firms have issued reports on WST. Wolfe Research started coverage on West Pharmaceutical Services in a report on Monday, June 1st. They set an “outperform” rating and a $375.00 price target for the company. Citigroup reaffirmed a “buy” rating on shares of West Pharmaceutical Services in a research note on Friday, April 24th. Morgan Stanley boosted their price objective on West Pharmaceutical Services from $315.00 to $325.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Barclays raised shares of West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $310.00 to $400.00 in a report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of West Pharmaceutical Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $340.09.
Read Our Latest Analysis on West Pharmaceutical Services
Insider Activity at West Pharmaceutical Services
In other news, CAO Chad Winters sold 896 shares of West Pharmaceutical Services stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $300.67, for a total value of $269,400.32. Following the completion of the transaction, the chief accounting officer owned 1,523 shares in the company, valued at approximately $457,920.41. The trade was a 37.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Annette F. Favorite sold 2,817 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $305.20, for a total value of $859,748.40. Following the sale, the vice president owned 16,828 shares in the company, valued at $5,135,905.60. The trade was a 14.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by company insiders.
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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