SEB Asset Management AB Buys New Shares in West Pharmaceutical Services, Inc. $WST

SEB Asset Management AB purchased a new stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,478 shares of the medical instruments supplier’s stock, valued at approximately $3,378,000.

A number of other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of West Pharmaceutical Services during the fourth quarter valued at approximately $272,041,000. Generation Investment Management LLP increased its holdings in West Pharmaceutical Services by 60.0% in the 4th quarter. Generation Investment Management LLP now owns 1,561,869 shares of the medical instruments supplier’s stock valued at $429,733,000 after buying an additional 585,855 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of West Pharmaceutical Services by 67.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,174,962 shares of the medical instruments supplier’s stock valued at $323,280,000 after buying an additional 473,547 shares in the last quarter. Steadfast Capital Management LP bought a new position in shares of West Pharmaceutical Services during the 3rd quarter worth about $123,667,000. Finally, AQR Capital Management LLC boosted its position in shares of West Pharmaceutical Services by 420.1% during the 3rd quarter. AQR Capital Management LLC now owns 545,879 shares of the medical instruments supplier’s stock valued at $142,949,000 after acquiring an additional 440,929 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays raised shares of West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $310.00 to $400.00 in a research report on Tuesday, June 9th. Weiss Ratings upgraded West Pharmaceutical Services from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Wolfe Research assumed coverage on West Pharmaceutical Services in a research report on Monday, June 1st. They issued an “outperform” rating and a $375.00 price target on the stock. BNP Paribas Exane initiated 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, TD Cowen restated a “buy” rating on shares of West Pharmaceutical Services in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, West Pharmaceutical Services presently has an average rating of “Buy” and a consensus target price of $363.17.

Insider Activity

In other news, VP Annette F. Favorite sold 2,817 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $305.20, for a total transaction of $859,748.40. Following the transaction, the vice president directly owned 16,828 shares in the company, valued at approximately $5,135,905.60. This represents a 14.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Chad Winters sold 896 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $300.67, for a total transaction of $269,400.32. Following the sale, the chief accounting officer directly owned 1,523 shares in the company, valued at $457,920.41. This trade represents a 37.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by corporate insiders.

West Pharmaceutical Services Stock Down 0.1%

NYSE WST opened at $358.87 on Thursday. The stock’s 50 day simple moving average is $335.41 and its 200 day simple moving average is $286.58. West Pharmaceutical Services, Inc. has a one year low of $221.50 and a one year high of $367.66. The firm has a market cap of $25.35 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.71 and a quick ratio of 2.04.

West Pharmaceutical Services (NYSE:WST) last issued its quarterly earnings data on Thursday, April 23rd. The medical instruments supplier reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.45. The firm had revenue of $844.90 million during the quarter, compared to the consensus estimate of $779.67 million. West Pharmaceutical Services had a return on equity of 19.03% and a net margin of 16.85%.The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS. As a group, sell-side analysts forecast that West Pharmaceutical Services, Inc. will post 8.6 earnings per share for the current fiscal year.

West Pharmaceutical Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 29th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, July 29th. West Pharmaceutical Services’s payout ratio is currently 11.76%.

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.