Envestnet Asset Management Inc. Lowers Stake in West Pharmaceutical Services, Inc. $WST

Envestnet Asset Management Inc. lessened its holdings in West Pharmaceutical Services, Inc. (NYSE:WST) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,987 shares of the medical instruments supplier’s stock after selling 51,324 shares during the period. Envestnet Asset Management Inc.’s holdings in West Pharmaceutical Services were worth $84,467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of WST. Generation Investment Management LLP acquired a new stake in West Pharmaceutical Services in the second quarter valued at approximately $255,072,000. Norges Bank acquired a new stake in West Pharmaceutical Services in the 2nd quarter valued at $200,813,000. ProShare Advisors LLC grew its stake in West Pharmaceutical Services by 46.8% in the 2nd quarter. ProShare Advisors LLC now owns 738,368 shares of the medical instruments supplier’s stock valued at $161,555,000 after acquiring an additional 235,272 shares during the period. Amundi increased its holdings in West Pharmaceutical Services by 83.4% in the 2nd quarter. Amundi now owns 502,831 shares of the medical instruments supplier’s stock worth $111,236,000 after acquiring an additional 228,696 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in West Pharmaceutical Services during the second quarter worth $30,592,000. Institutional investors and hedge funds own 93.90% of the company’s stock.

West Pharmaceutical Services Price Performance

NYSE:WST opened at $249.13 on Friday. West Pharmaceutical Services, Inc. has a one year low of $187.43 and a one year high of $332.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.18 and a current ratio of 2.87. The stock has a market cap of $17.92 billion, a PE ratio of 36.91, a P/E/G ratio of 3.43 and a beta of 1.18. The stock has a 50 day moving average price of $264.16 and a 200 day moving average price of $261.94.

West Pharmaceutical Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 28th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.4%. West Pharmaceutical Services’s dividend payout ratio (DPR) is 13.04%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WST shares. Evercore cut 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 research note on Tuesday. Zacks Research raised shares of West Pharmaceutical Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Wall Street Zen upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. TD Cowen initiated coverage on West Pharmaceutical Services in a report on Wednesday, October 29th. They set a “buy” rating for the company. Finally, Morgan Stanley initiated coverage on West Pharmaceutical Services in a research note on Monday, December 1st. They issued an “equal weight” rating and a $285.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $330.13.

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.