Ramsey Quantitative Systems Has $354,000 Position in West Pharmaceutical Services, Inc. (WST)
Ramsey Quantitative Systems reduced its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 28.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,744 shares of the medical instruments supplier’s stock after selling 1,495 shares during the period. Ramsey Quantitative Systems’ holdings in West Pharmaceutical Services were worth $354,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in WST. Acrospire Investment Management LLC acquired a new stake in West Pharmaceutical Services in the 2nd quarter valued at about $113,000. Citigroup Inc. increased its position in West Pharmaceutical Services by 95.1% in the 2nd quarter. Citigroup Inc. now owns 1,569 shares of the medical instruments supplier’s stock valued at $148,000 after acquiring an additional 765 shares in the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in West Pharmaceutical Services in the 2nd quarter valued at about $212,000. Harfst & Associates Inc. acquired a new stake in West Pharmaceutical Services in the 1st quarter valued at about $186,000. Finally, CIBC Asset Management Inc acquired a new stake in West Pharmaceutical Services in the 2nd quarter valued at about $223,000. 90.57% of the stock is owned by hedge funds and other institutional investors.
West Pharmaceutical Services, Inc. (NYSE:WST) traded up 1.15% during midday trading on Friday, reaching $95.21. 149,622 shares of the company’s stock traded hands. The stock has a 50-day moving average of $87.78 and a 200 day moving average of $89.57. West Pharmaceutical Services, Inc. has a 52-week low of $70.17 and a 52-week high of $99.91. The company has a market cap of $7.05 billion, a P/E ratio of 40.86 and a beta of 1.13.
West Pharmaceutical Services (NYSE:WST) last posted its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $397.60 million during the quarter, compared to analysts’ expectations of $406.00 million. West Pharmaceutical Services had a net margin of 11.42% and a return on equity of 14.02%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, analysts anticipate that West Pharmaceutical Services, Inc. will post $2.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, October 17th. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.13. West Pharmaceutical Services’s dividend payout ratio (DPR) is 22.22%.
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Several research firms have weighed in on WST. Jefferies Group LLC restated a “hold” rating and issued a $90.00 price objective on shares of West Pharmaceutical Services in a research report on Thursday, June 8th. Zacks Investment Research upgraded shares of West Pharmaceutical Services from a “hold” rating to a “strong-buy” rating and set a $114.00 price objective for the company in a research report on Friday, June 9th. Finally, BidaskClub cut shares of West Pharmaceutical Services from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $98.52.
West Pharmaceutical Services Company 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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