Tiedemann Wealth Management LLC Acquires New Position in West Pharmaceutical Services, Inc. (WST)
Tiedemann Wealth Management LLC acquired a new stake in West Pharmaceutical Services, Inc. (NYSE:WST) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,196 shares of the medical instruments supplier’s stock, valued at approximately $207,000.
A number of other large investors have also added to or reduced their stakes in WST. Acrospire Investment Management LLC bought a new stake in West Pharmaceutical Services in the second quarter valued at approximately $113,000. Citigroup Inc. raised its stake in West Pharmaceutical Services by 95.1% in the second quarter. Citigroup Inc. now owns 1,569 shares of the medical instruments supplier’s stock valued at $148,000 after buying an additional 765 shares during the period. Wolverine Trading LLC bought a new stake in West Pharmaceutical Services in the second quarter valued at approximately $200,000. Nomura Holdings Inc. bought a new stake in West Pharmaceutical Services in the second quarter valued at approximately $201,000. Finally, Grandfield & Dodd LLC bought a new stake in West Pharmaceutical Services in the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 93.26% of the company’s stock.
WST has been the topic of several research analyst reports. Jefferies Group upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $96.00 to $115.00 in a research note on Friday, September 15th. Bank of America lowered West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 price objective on the stock. in a research note on Tuesday, October 17th. Wells Fargo & Company upped their price objective on West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Zacks Investment Research upgraded West Pharmaceutical Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Stephens initiated coverage on West Pharmaceutical Services in a research note on Tuesday, October 3rd. They issued an “equal weight” rating and a $99.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. West Pharmaceutical Services currently has an average rating of “Hold” and a consensus price target of $106.00.
West Pharmaceutical Services (NYSE:WST) last announced its earnings results on Thursday, October 26th. The medical instruments supplier reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.14. The company had revenue of $398.20 million for the quarter, compared to analyst estimates of $386.02 million. West Pharmaceutical Services had a return on equity of 14.47% and a net margin of 12.12%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. research analysts predict that West Pharmaceutical Services, Inc. will post 2.76 earnings per share for the current fiscal year.
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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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