Brookstone Capital Management cut its holdings in shares of West Pharmaceutical Services Inc. (NYSE:WST) by 20.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,620 shares of the medical instruments supplier’s stock after selling 1,218 shares during the quarter. Brookstone Capital Management’s holdings in West Pharmaceutical Services were worth $570,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Comerica Securities Inc. acquired a new position in shares of West Pharmaceutical Services during the third quarter worth approximately $283,000. Pendal Group Ltd acquired a new position in shares of West Pharmaceutical Services during the third quarter worth approximately $181,000. Virginia Retirement Systems ET AL acquired a new position in shares of West Pharmaceutical Services during the third quarter worth approximately $2,260,000. Meeder Asset Management Inc. acquired a new position in shares of West Pharmaceutical Services during the third quarter worth approximately $101,000. Finally, WCM Investment Management CA lifted its holdings in shares of West Pharmaceutical Services by 51.2% during the third quarter. WCM Investment Management CA now owns 1,036,034 shares of the medical instruments supplier’s stock worth $127,919,000 after buying an additional 350,614 shares during the last quarter. Institutional investors own 94.27% of the company’s stock.

A number of research analysts have recently commented on WST shares. ValuEngine upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Zacks Investment Research upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a report on Saturday, October 13th.

Shares of WST stock opened at $110.98 on Friday. West Pharmaceutical Services Inc. has a 12 month low of $82.74 and a 12 month high of $125.09. The company has a market cap of $8.02 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 4.09 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.94 and a quick ratio of 2.23.

West Pharmaceutical Services (NYSE:WST) last issued its quarterly earnings results on Thursday, October 25th. The medical instruments supplier reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. West Pharmaceutical Services had a return on equity of 15.78% and a net margin of 9.06%. The company had revenue of $431.70 million during the quarter, compared to analyst estimates of $427.55 million. Equities analysts anticipate that West Pharmaceutical Services Inc. will post 2.8 earnings per share for the current fiscal year.

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About West Pharmaceutical Services

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, and internationally. The company operates through two segments, Proprietary Products and Contract-Manufactured Products.

Further Reading: Understanding each part of a balance sheet

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

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