Van ECK Associates Corp cut its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 18.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,513 shares of the medical instruments supplier’s stock after selling 2,405 shares during the quarter. Van ECK Associates Corp’s holdings in West Pharmaceutical Services were worth $3,945,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new stake in West Pharmaceutical Services during the first quarter worth about $25,000. RVW Wealth LLC acquired a new stake in West Pharmaceutical Services during the third quarter valued at approximately $38,000. First Horizon Advisors Inc. boosted its holdings in West Pharmaceutical Services by 37.4% during the first quarter. First Horizon Advisors Inc. now owns 147 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 40 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in West Pharmaceutical Services during the third quarter valued at approximately $53,000. Finally, Addison Advisors LLC boosted its holdings in West Pharmaceutical Services by 37.9% during the third quarter. Addison Advisors LLC now owns 142 shares of the medical instruments supplier’s stock valued at $53,000 after purchasing an additional 39 shares in the last quarter. 91.23% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CAO Chad Winters sold 1,013 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $349.00, for a total value of $353,537.00. Following the completion of the transaction, the chief accounting officer now owns 1,270 shares in the company, valued at approximately $443,230. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.13% of the company’s stock.
West Pharmaceutical Services Price Performance
West Pharmaceutical Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Wednesday, January 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Tuesday, January 30th. West Pharmaceutical Services’s payout ratio is presently 10.80%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on WST. StockNews.com raised West Pharmaceutical Services from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Stephens reduced their target price on West Pharmaceutical Services from $420.00 to $390.00 and set an “overweight” rating on the stock in a report on Friday, October 27th. Finally, Jefferies Financial Group raised West Pharmaceutical Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $323.00 to $536.00 in a report on Wednesday, February 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Pharmaceutical Services presently has an average rating of “Buy” and an average price target of $412.20.
About West Pharmaceutical Services
West Pharmaceutical Services, Inc designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products.
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