West Pharmaceutical Services Inc. (NYSE:WST) Shares Sold by State Treasurer State of Michigan

State Treasurer State of Michigan trimmed its stake in shares of West Pharmaceutical Services Inc. (NYSE:WST) by 17.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,800 shares of the medical instruments supplier’s stock after selling 4,600 shares during the period. State Treasurer State of Michigan’s holdings in West Pharmaceutical Services were worth $2,728,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Two Sigma Advisers LP grew its position in shares of West Pharmaceutical Services by 33.9% during the fourth quarter. Two Sigma Advisers LP now owns 2,500 shares of the medical instruments supplier’s stock worth $245,000 after purchasing an additional 633 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of West Pharmaceutical Services by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 353,571 shares of the medical instruments supplier’s stock worth $34,658,000 after purchasing an additional 4,225 shares in the last quarter. Geode Capital Management LLC grew its position in shares of West Pharmaceutical Services by 10.9% during the fourth quarter. Geode Capital Management LLC now owns 743,153 shares of the medical instruments supplier’s stock worth $72,851,000 after purchasing an additional 73,058 shares in the last quarter. Deutsche Bank AG grew its position in shares of West Pharmaceutical Services by 73.2% during the fourth quarter. Deutsche Bank AG now owns 177,698 shares of the medical instruments supplier’s stock worth $17,418,000 after purchasing an additional 75,119 shares in the last quarter. Finally, W.E. Donoghue & Co. LLC purchased a new stake in shares of West Pharmaceutical Services during the first quarter worth about $1,074,000. Institutional investors own 91.62% of the company’s stock.

Several analysts recently issued reports on the company. William Blair assumed coverage on West Pharmaceutical Services in a research report on Tuesday, April 23rd. They set an “outperform” rating and a $112.16 target price for the company. Jefferies Financial Group cut West Pharmaceutical Services from a “buy” rating to a “hold” rating and set a $122.00 target price for the company. in a research report on Wednesday, May 1st. Zacks Investment Research upgraded West Pharmaceutical Services from a “hold” rating to a “strong-buy” rating and set a $158.00 target price for the company in a research report on Saturday, August 3rd. Finally, Bank of America upgraded West Pharmaceutical Services from an “underperform” rating to a “neutral” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $130.72.

Shares of NYSE:WST traded up $0.83 during trading on Friday, hitting $143.92. 320,882 shares of the company’s stock were exchanged, compared to its average volume of 407,624. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 3.02. West Pharmaceutical Services Inc. has a 52-week low of $91.75 and a 52-week high of $144.82. The firm has a 50-day moving average of $127.81. The firm has a market capitalization of $10.55 billion, a P/E ratio of 51.22, a price-to-earnings-growth ratio of 4.07 and a beta of 1.30.

West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.17. The business had revenue of $469.70 million during the quarter, compared to analysts’ expectations of $459.90 million. West Pharmaceutical Services had a return on equity of 16.93% and a net margin of 12.94%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. Research analysts expect that West Pharmaceutical Services Inc. will post 3.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.42%. The ex-dividend date is Tuesday, October 22nd. West Pharmaceutical Services’s dividend payout ratio is presently 21.35%.

West Pharmaceutical Services Profile

West Pharmaceutical Services, Inc manufactures and sells containment and delivery systems for injectable drugs and healthcare products in the United States, Germany, France, Other European countries, South Korea, and internationally. The company operates through two segments, Proprietary Products and Contract-Manufactured Products.

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Institutional Ownership by Quarter for West Pharmaceutical Services (NYSE:WST)

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