Public Employees Retirement System of Ohio bought a new stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 41,640 shares of the medical instruments supplier’s stock, valued at approximately $14,949,000. Public Employees Retirement System of Ohio owned 0.06% of West Pharmaceutical Services at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WST. BlackRock Inc. bought a new stake in shares of West Pharmaceutical Services during the 2nd quarter valued at $2,387,990,000. State Street Corp raised its holdings in West Pharmaceutical Services by 2.1% in the 2nd quarter. State Street Corp now owns 3,271,866 shares of the medical instruments supplier’s stock worth $715,884,000 after purchasing an additional 68,330 shares during the period. Artisan Partners Limited Partnership lifted its position in West Pharmaceutical Services by 2.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,850,401 shares of the medical instruments supplier’s stock valued at $784,259,000 after purchasing an additional 79,481 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in West Pharmaceutical Services during the second quarter valued at $733,733,000. Finally, Generation Investment Management LLP bought a new stake in West Pharmaceutical Services during the second quarter valued at about $728,168,000. 93.90% of the stock is owned by hedge funds and other institutional investors.
West Pharmaceutical Services Stock Performance
NYSE:WST opened at $338.21 on Monday. The stock has a 50-day moving average price of $350.55 and a 200 day moving average price of $304.00. The stock has a market capitalization of $23.80 billion, a P/E ratio of 43.30, a P/E/G ratio of 2.36 and a beta of 1.15. West Pharmaceutical Services, Inc. has a 12-month low of $223.83 and a 12-month high of $386.00. The company has a current ratio of 2.82, a quick ratio of 2.12 and a debt-to-equity ratio of 0.07.
West Pharmaceutical Services Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Wednesday, July 29th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, July 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. West Pharmaceutical Services’s dividend payout ratio is currently 11.27%.
Wall Street Analyst Weigh In
WST has been the subject of a number of analyst reports. Weiss Ratings upgraded West Pharmaceutical Services from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. Evercore reiterated an “outperform” rating and set a $425.00 price objective on shares of West Pharmaceutical Services in a research note on Monday, July 27th. BNP Paribas Exane assumed coverage on shares of West Pharmaceutical Services in a report on Monday, July 13th. They issued an “outperform” rating and a $447.00 target price for the company. Morgan Stanley raised their target price on shares of West Pharmaceutical Services from $325.00 to $365.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Stephens reaffirmed an “overweight” rating and set a $360.00 price target on shares of West Pharmaceutical Services in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $368.08.
Read Our Latest Stock Report on WST
West Pharmaceutical Services Profile
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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