Ossiam increased its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 669.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,108 shares of the medical instruments supplier’s stock after purchasing an additional 48,814 shares during the period. Ossiam owned 0.08% of West Pharmaceutical Services worth $14,719,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in West Pharmaceutical Services during the second quarter valued at approximately $200,813,000. Artisan Partners Limited Partnership increased its holdings in shares of West Pharmaceutical Services by 22.2% in the third quarter. Artisan Partners Limited Partnership now owns 2,770,920 shares of the medical instruments supplier’s stock valued at $726,895,000 after buying an additional 503,601 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of West Pharmaceutical Services by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,704,948 shares of the medical instruments supplier’s stock valued at $2,545,899,000 after buying an additional 388,144 shares in the last quarter. Amundi lifted its position in shares of West Pharmaceutical Services by 83.4% during the 2nd quarter. Amundi now owns 502,831 shares of the medical instruments supplier’s stock valued at $111,236,000 after acquiring an additional 228,696 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of West Pharmaceutical Services by 45.6% during the 3rd quarter. Epoch Investment Partners Inc. now owns 525,899 shares of the medical instruments supplier’s stock valued at $137,959,000 after acquiring an additional 164,634 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.
West Pharmaceutical Services Price Performance
WST opened at $235.66 on Friday. The firm has a market capitalization of $16.97 billion, a P/E ratio of 34.71, a PEG ratio of 2.46 and a beta of 1.17. The stock has a fifty day moving average of $249.85 and a 200-day moving average of $261.73. The company has a quick ratio of 2.34, a current ratio of 3.02 and a debt-to-equity ratio of 0.06. West Pharmaceutical Services, Inc. has a 12-month low of $187.43 and a 12-month high of $322.34.
West Pharmaceutical Services declared that its board has authorized a stock buyback plan on Tuesday, February 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 5.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
West Pharmaceutical Services Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 29th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.4%. West Pharmaceutical Services’s dividend payout ratio is currently 12.96%.
Analyst Ratings Changes
A number of brokerages recently issued reports on WST. Morgan Stanley initiated coverage on West Pharmaceutical Services in a report on Monday, December 1st. They issued an “equal weight” rating and a $285.00 target price on the stock. UBS Group reiterated a “buy” rating and issued a $340.00 price target on shares of West Pharmaceutical Services in a research report on Friday, February 13th. Barclays dropped their price target on West Pharmaceutical Services from $325.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $295.00 price objective on shares of West Pharmaceutical Services in a research note on Tuesday, February 10th. Finally, Evercore decreased their target price on shares of West Pharmaceutical Services from $390.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $314.56.
Read Our Latest Stock Analysis on WST
About West Pharmaceutical Services
West Pharmaceutical Services, Inc is a global developer and manufacturer of components, systems and services that enable the containment and delivery of injectable drugs. The company focuses on high-quality packaging and delivery solutions for the pharmaceutical and biotech industries, producing primary drug packaging components and specialized drug delivery devices used for vaccines, biologics and other injectable therapies. West is known for its elastomeric closures, seals and polymer components that maintain sterility and compatibility with sensitive drug formulations.
In addition to component manufacturing, West provides engineered delivery systems and support services across the product lifecycle.
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