Tidal Investments LLC increased its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 52.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,535 shares of the medical instruments supplier’s stock after acquiring an additional 11,205 shares during the quarter. Tidal Investments LLC’s holdings in West Pharmaceutical Services were worth $11,680,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in West Pharmaceutical Services by 36,590.8% during the 2nd quarter. California State Teachers Retirement System now owns 40,592,489 shares of the medical instruments supplier’s stock worth $14,572,704,000 after purchasing an additional 40,481,855 shares during the last quarter. BlackRock Inc. bought a new position in shares of West Pharmaceutical Services in the 2nd quarter valued at about $2,387,990,000. State Street Corp grew its position in shares of West Pharmaceutical Services by 2.1% during the 2nd quarter. State Street Corp now owns 3,271,866 shares of the medical instruments supplier’s stock worth $715,884,000 after buying an additional 68,330 shares during the period. Artisan Partners Limited Partnership grew its position in shares of West Pharmaceutical Services by 2.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,850,401 shares of the medical instruments supplier’s stock worth $784,259,000 after buying an additional 79,481 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of West Pharmaceutical Services during the second quarter worth approximately $733,733,000. Institutional investors own 93.90% of the company’s stock.
West Pharmaceutical Services Stock Up 0.4%
Shares of NYSE WST opened at $345.49 on Friday. West Pharmaceutical Services, Inc. has a 52-week low of $223.83 and a 52-week high of $386.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.12 and a current ratio of 2.82. The stock has a market cap of $24.31 billion, a P/E ratio of 44.24, a P/E/G ratio of 2.41 and a beta of 1.14. The firm has a 50 day moving average price of $348.46 and a 200 day moving average price of $310.28.
West Pharmaceutical Services Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 29th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, July 29th. West Pharmaceutical Services’s payout ratio is presently 11.27%.
Insider Transactions at West Pharmaceutical Services
In other West Pharmaceutical Services news, VP Annette Favorite sold 8,135 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $340.81, for a total value of $2,772,489.35. Following the completion of the sale, the vice president directly owned 16,845 shares in the company, valued at $5,740,944.45. This represents a 32.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company’s stock.
Analysts Set New Price Targets
WST has been the topic of several analyst reports. Barclays upgraded shares of West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $310.00 to $400.00 in a report on Tuesday, June 9th. Morgan Stanley upped their target price on shares of West Pharmaceutical Services from $325.00 to $365.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Citigroup raised their price target on West Pharmaceutical Services from $400.00 to $412.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. BNP Paribas Exane began coverage on West Pharmaceutical Services in a research note on Monday, July 13th. They set an “outperform” rating and a $447.00 price objective for the company. Finally, UBS Group upped their price objective on West Pharmaceutical Services from $340.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $373.85.
Get Our Latest Stock Report on West Pharmaceutical Services
West Pharmaceutical Services Company Profile
West Pharmaceutical Services, Inc (NYSE: WST) develops and manufactures components and systems used to package, contain and deliver injectable medicines and other healthcare products. Its customers include pharmaceutical, biotechnology and medical device companies, which use West products in drug administration and medical applications.
The company’s offerings include elastomer components such as stoppers, plungers and seals; syringe and cartridge components; vial and container closure systems; and specialized delivery systems for injectable and other complex medicines.
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