ING Groep NV bought a new position in shares of West Pharmaceutical Services Inc. (NYSE:WST) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,528 shares of the medical instruments supplier’s stock, valued at approximately $249,000.
Several other institutional investors and hedge funds have also made changes to their positions in WST. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of West Pharmaceutical Services during the second quarter worth about $831,000. Cubist Systematic Strategies LLC boosted its stake in shares of West Pharmaceutical Services by 72.5% during the second quarter. Cubist Systematic Strategies LLC now owns 4,175 shares of the medical instruments supplier’s stock worth $395,000 after buying an additional 1,755 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of West Pharmaceutical Services during the second quarter worth about $201,000. Eqis Capital Management Inc. boosted its stake in shares of West Pharmaceutical Services by 20.1% during the third quarter. Eqis Capital Management Inc. now owns 3,987 shares of the medical instruments supplier’s stock worth $384,000 after buying an additional 667 shares during the period. Finally, Sit Investment Associates Inc. acquired a new stake in shares of West Pharmaceutical Services during the third quarter worth about $924,000. Institutional investors and hedge funds own 94.85% of the company’s stock.
In related news, CFO William J. Federici sold 21,000 shares of the firm’s stock in a transaction dated 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 owns 190,493 shares in the company, valued at $18,860,711.93. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.
Shares of West Pharmaceutical Services Inc. (WST) opened at $87.10 on Thursday. 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 company has a market cap of $6,470.00, a PE ratio of 32.99, a P/E/G ratio of 1.87 and a beta of 1.04. West Pharmaceutical Services Inc. has a 12-month low of $77.97 and a 12-month high of $103.36.
West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings data on Thursday, February 15th. The medical instruments supplier reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The firm had revenue of $415.60 million during the quarter, compared to the consensus estimate of $416.90 million. West Pharmaceutical Services had a net margin of 9.42% and a return on equity of 14.79%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 earnings per share. equities analysts forecast that West Pharmaceutical Services Inc. will post 2.87 EPS for the current year.
West Pharmaceutical Services announced that its board has initiated a share buyback plan on Thursday, February 15th that authorizes the company to buyback 800,000 shares. This buyback authorization authorizes the medical instruments supplier to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Investors of record on Wednesday, April 18th will be given a $0.14 dividend. The ex-dividend date is Tuesday, April 17th. This represents a $0.56 dividend on an annualized basis and a yield of 0.64%. West Pharmaceutical Services’s payout ratio is currently 21.21%.
A number of equities research analysts recently commented on WST shares. Zacks Investment Research downgraded shares of West Pharmaceutical Services from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Goldman Sachs Group started coverage on shares of West Pharmaceutical Services in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $110.00 price objective for the company. Finally, Wells Fargo & Co raised their price objective on shares of West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $108.17.
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About West Pharmaceutical Services
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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