Bradley Foster & Sargent Inc. CT acquired a new position in West Pharmaceutical Services, Inc. (NYSE:WST) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,240 shares of the medical instruments supplier’s stock, valued at approximately $212,000.
Other hedge funds have also modified their holdings of the company. Harfst & Associates Inc. bought a new position in West Pharmaceutical Services in the 1st quarter worth approximately $186,000. CIBC Asset Management Inc acquired a new stake in West Pharmaceutical Services in the second quarter worth approximately $223,000. Tyers Asset Management LLC lifted its position in West Pharmaceutical Services by 17.6% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the medical instruments supplier’s stock worth $201,000 after purchasing an additional 368 shares during the period. Cutler Group LP lifted its position in West Pharmaceutical Services by 482.2% in the second quarter. Cutler Group LP now owns 2,550 shares of the medical instruments supplier’s stock worth $241,000 after purchasing an additional 2,112 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its position in West Pharmaceutical Services by 1.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,569 shares of the medical instruments supplier’s stock worth $210,000 after purchasing an additional 40 shares during the period. 90.57% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on WST. Jefferies Group LLC upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $96.00 to $115.00 in a research report on Friday, September 15th. BidaskClub downgraded West Pharmaceutical Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded West Pharmaceutical Services from a “hold” rating to a “strong-buy” rating and set a $114.00 target price for the company in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. West Pharmaceutical Services currently has an average rating of “Hold” and an average target price of $98.52.
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Shares of West Pharmaceutical Services, Inc. (NYSE WST) opened at 95.21 on Friday. The firm has a market cap of $7.05 billion, a P/E ratio of 40.86 and a beta of 1.13. West Pharmaceutical Services, Inc. has a 12 month low of $70.17 and a 12 month high of $99.91. The stock’s 50 day moving average price is $87.78 and its 200-day moving average price is $89.57.
West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. West Pharmaceutical Services had a net margin of 11.42% and a return on equity of 14.02%. The firm had revenue of $397.60 million for the quarter, compared to analyst estimates of $406.00 million. During the same period last year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that West Pharmaceutical Services, Inc. will post $2.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, October 17th. West Pharmaceutical Services’s dividend payout ratio (DPR) is 22.22%.
About West Pharmaceutical Services
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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