Virginia Retirement Systems ET AL lowered its stake in West Pharmaceutical Services, Inc. (NYSE:WST) by 35.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,700 shares of the medical instruments supplier’s stock after selling 11,300 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in West Pharmaceutical Services were worth $1,993,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in West Pharmaceutical Services during the 1st quarter worth about $335,000. US Bancorp DE increased its holdings in West Pharmaceutical Services by 69.9% during the 2nd quarter. US Bancorp DE now owns 6,014 shares of the medical instruments supplier’s stock worth $569,000 after purchasing an additional 2,475 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in West Pharmaceutical Services by 66.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,028 shares of the medical instruments supplier’s stock worth $1,326,000 after purchasing an additional 5,625 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in West Pharmaceutical Services by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,023 shares of the medical instruments supplier’s stock worth $286,000 after purchasing an additional 333 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of West Pharmaceutical Services by 1.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 43,619 shares of the medical instruments supplier’s stock valued at $4,120,000 after acquiring an additional 510 shares in the last quarter. 93.28% of the stock is currently owned by institutional investors.
In other news, CFO William J. Federici sold 21,000 shares of West Pharmaceutical Services stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $99.01, for a total value of $2,079,210.00. Following the completion of the sale, the chief financial officer now directly owns 190,493 shares in the company, valued at $18,860,711.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on WST shares. Jefferies Group upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $96.00 to $115.00 in a report on Friday, September 15th. Bank of America cut West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 price target for the company. in a report on Tuesday, October 17th. Wells Fargo & Company lifted their price target on West Pharmaceutical Services from $105.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Zacks Investment Research upgraded West Pharmaceutical Services from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Stephens initiated coverage on West Pharmaceutical Services in a report on Tuesday, October 3rd. They set an “equal weight” rating and a $99.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $106.00.
Shares of West Pharmaceutical Services, Inc. (NYSE:WST) traded down $0.50 during mid-day trading on Friday, reaching $98.24. 223,500 shares of the company’s stock traded hands, compared to its average volume of 359,739. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.59 and a quick ratio of 1.87. The firm has a market capitalization of $7,331.73, a P/E ratio of 42.56, a PEG ratio of 2.11 and a beta of 1.11. West Pharmaceutical Services, Inc. has a 1 year low of $77.97 and a 1 year high of $103.36.
West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings results on Thursday, October 26th. The medical instruments supplier reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.14. West Pharmaceutical Services had a net margin of 12.12% and a return on equity of 14.47%. The company had revenue of $398.20 million during the quarter, compared to the consensus estimate of $386.02 million. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. research analysts forecast that West Pharmaceutical Services, Inc. will post 2.76 earnings per share for the current fiscal year.
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West Pharmaceutical Services Profile
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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