Vanguard Group Inc. lifted its stake in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,704,948 shares of the medical instruments supplier’s stock after purchasing an additional 388,144 shares during the period. Vanguard Group Inc. owned about 0.13% of West Pharmaceutical Services worth $2,545,899,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in West Pharmaceutical Services in the 2nd quarter worth about $25,000. SJS Investment Consulting Inc. boosted its holdings in shares of West Pharmaceutical Services by 1,842.9% in the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 129 shares during the period. Vermillion & White Wealth Management Group LLC grew its stake in West Pharmaceutical Services by 193.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 144 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 95 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in West Pharmaceutical Services in the third quarter worth approximately $47,000. Finally, CVA Family Office LLC increased its holdings in West Pharmaceutical Services by 573.3% during the 2nd quarter. CVA Family Office LLC now owns 202 shares of the medical instruments supplier’s stock worth $44,000 after purchasing an additional 172 shares during the period. Institutional investors own 93.90% of the company’s stock.
West Pharmaceutical Services Stock Down 2.0%
Shares of West Pharmaceutical Services stock opened at $243.36 on Friday. The company has a quick ratio of 2.34, a current ratio of 3.02 and a debt-to-equity ratio of 0.06. The company has a market cap of $17.53 billion, a P/E ratio of 35.84, a PEG ratio of 2.63 and a beta of 1.18. The firm’s 50 day moving average price is $259.15 and its 200-day moving average price is $261.58. West Pharmaceutical Services, Inc. has a 52-week low of $187.43 and a 52-week high of $322.34.
West Pharmaceutical Services Announces Dividend
The firm also recently disclosed 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. This represents a $0.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, April 29th. West Pharmaceutical Services’s dividend payout ratio is 12.96%.
West Pharmaceutical Services declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 5.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Wall Street Analyst Weigh In
WST has been the subject of several research reports. Wall Street Zen upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $315.00 price objective on shares of West Pharmaceutical Services in a research note on Friday, February 13th. TD Cowen assumed coverage on shares of West Pharmaceutical Services in a research report on Wednesday, October 29th. They set a “buy” rating on the stock. UBS Group restated a “buy” rating and issued a $340.00 price target on shares of West Pharmaceutical Services in a report on Friday, February 13th. Finally, KeyCorp increased their price objective on shares of West Pharmaceutical Services from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $314.56.
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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