Bamco Inc. NY decreased its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 300,931 shares of the medical instruments supplier’s stock after selling 6,716 shares during the quarter. Bamco Inc. NY owned 0.42% of West Pharmaceutical Services worth $78,943,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in WST. Empowered Funds LLC raised its holdings in West Pharmaceutical Services by 16.1% in the 1st quarter. Empowered Funds LLC now owns 1,611 shares of the medical instruments supplier’s stock worth $361,000 after acquiring an additional 224 shares during the last quarter. Intech Investment Management LLC boosted its stake in West Pharmaceutical Services by 27.7% during the 1st quarter. Intech Investment Management LLC now owns 6,020 shares of the medical instruments supplier’s stock valued at $1,348,000 after purchasing an additional 1,307 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of West Pharmaceutical Services by 14.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,271 shares of the medical instruments supplier’s stock worth $284,000 after purchasing an additional 157 shares in the last quarter. Savant Capital LLC purchased a new position in shares of West Pharmaceutical Services in the second quarter worth $400,000. Finally, National Pension Service raised its stake in shares of West Pharmaceutical Services by 340.4% in the second quarter. National Pension Service now owns 1,198 shares of the medical instruments supplier’s stock worth $262,000 after purchasing an additional 926 shares during the last quarter. Institutional investors own 93.90% of the company’s stock.
West Pharmaceutical Services Stock Performance
Shares of WST opened at $235.66 on Friday. The firm has a market capitalization of $16.97 billion, a P/E ratio of 34.71, a PEG ratio of 2.50 and a beta of 1.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.02 and a quick ratio of 2.34. West Pharmaceutical Services, Inc. has a one year low of $187.43 and a one year high of $322.34. The business has a fifty day moving average of $249.85 and a 200 day moving average of $261.85.
West Pharmaceutical Services declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to reacquire up to 5.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
West Pharmaceutical Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Wednesday, April 29th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. 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 presently 12.96%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on WST shares. Zacks Research raised West Pharmaceutical Services from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $315.00 target price on shares of West Pharmaceutical Services in a research report on Friday, February 13th. Morgan Stanley assumed coverage on shares of West Pharmaceutical Services in a report on Monday, December 1st. They set an “equal weight” rating and a $285.00 price target on the stock. UBS Group reiterated a “buy” rating and issued a $340.00 price target on shares of West Pharmaceutical Services in a research note on Friday, February 13th. Finally, Barclays decreased their price objective on shares of West Pharmaceutical Services from $325.00 to $265.00 and set an “equal weight” rating for the company in a report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $314.56.
Read Our Latest Analysis 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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