West Pharmaceutical Services, Inc. $WST Stake Reduced by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 10.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 208,015 shares of the medical instruments supplier’s stock after selling 24,499 shares during the period. West Pharmaceutical Services accounts for approximately 2.3% of Riverbridge Partners LLC’s portfolio, making the stock its 13th biggest position. Riverbridge Partners LLC’s holdings in West Pharmaceutical Services were worth $77,124,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund boosted its stake in shares of West Pharmaceutical Services by 7.4% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 12,249 shares of the medical instruments supplier’s stock worth $4,541,000 after buying an additional 845 shares during the last quarter. Lido Advisors LLC increased its position in shares of West Pharmaceutical Services by 21.5% in the third quarter. Lido Advisors LLC now owns 5,864 shares of the medical instruments supplier’s stock valued at $2,174,000 after acquiring an additional 1,037 shares during the last quarter. Nemes Rush Group LLC acquired a new stake in shares of West Pharmaceutical Services in the third quarter valued at about $1,228,000. AlphaCore Capital LLC raised its holdings in West Pharmaceutical Services by 33.8% during the third quarter. AlphaCore Capital LLC now owns 962 shares of the medical instruments supplier’s stock worth $357,000 after acquiring an additional 243 shares in the last quarter. Finally, Fulcrum Asset Management LLP raised its holdings in West Pharmaceutical Services by 259.4% during the third quarter. Fulcrum Asset Management LLP now owns 115 shares of the medical instruments supplier’s stock worth $43,000 after acquiring an additional 83 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

West Pharmaceutical Services Price Performance

Shares of WST opened at $412.44 on Wednesday. West Pharmaceutical Services, Inc. has a 1 year low of $223.83 and a 1 year high of $438.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.82 and a quick ratio of 2.10. The company has a market capitalization of $28.73 billion, a price-to-earnings ratio of 46.29, a price-to-earnings-growth ratio of 2.51 and a beta of 1.13. The business has a 50-day moving average of $375.98 and a 200-day moving average of $318.22.

West Pharmaceutical Services (NYSE:WST) last announced its earnings results on Thursday, October 29th. The medical instruments supplier reported $2.66 EPS for the quarter, beating the consensus estimate of $2.20 by $0.46. West Pharmaceutical Services had a return on equity of 21.78% and a net margin of 18.81%. The business had revenue of $874.50 million for the quarter, compared to analysts’ expectations of $827.12 million. During the same period in the prior year, the business posted $1.96 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that West Pharmaceutical Services, Inc. will post 9.46 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Wednesday, November 11th will be given a $0.26 dividend. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.3%. West Pharmaceutical Services’s dividend payout ratio is presently 9.88%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. TD Cowen increased their price target on West Pharmaceutical Services from $420.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Evercore reaffirmed an “outperform” rating and set a $425.00 price target on shares of West Pharmaceutical Services in a research report on Monday, July 27th. Zacks Research cut West Pharmaceutical Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Morgan Stanley raised West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $365.00 to $400.00 in a report on Tuesday, September 22nd. Finally, Weiss Ratings raised shares of West Pharmaceutical Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, November 2nd. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $424.67.

Insider Activity at West Pharmaceutical Services

In other news, VP Annette Favorite sold 2,524 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $365.00, for a total value of $921,260.00. Following the sale, the vice president directly owned 21,818 shares of the company’s stock, valued at approximately $7,963,570. This represents a 10.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 15,659 shares of company stock valued at $5,443,749. Corporate insiders own 0.60% of the company’s stock.

West Pharmaceutical Services Profile

West Pharmaceutical Services designs and manufactures packaging components and delivery systems used by the pharmaceutical, biotechnology, and medical device industries. Its products help contain and administer injectable medicines and include elastomeric components, such as stoppers and seals, as well as syringe components and other packaging and delivery solutions. The company also provides contract manufacturing services for medical devices and pharmaceutical delivery systems. Its customers include companies developing and producing branded, generic, and biologic medicines.