Redwood Investment Management LLC purchased a new position in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,283 shares of the medical instruments supplier’s stock, valued at approximately $1,179,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of West Pharmaceutical Services in the 2nd quarter worth $2,387,990,000. State Street Corp boosted its position in West Pharmaceutical Services by 2.1% during the second quarter. State Street Corp now owns 3,271,866 shares of the medical instruments supplier’s stock valued at $715,884,000 after purchasing an additional 68,330 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of West Pharmaceutical Services by 2.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,850,401 shares of the medical instruments supplier’s stock valued at $784,259,000 after buying an additional 79,481 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of West Pharmaceutical Services in the 2nd quarter valued at about $733,733,000. Finally, Generation Investment Management LLP bought a new stake in shares of West Pharmaceutical Services in the 2nd quarter valued at about $728,168,000. 93.90% of the stock is owned by hedge funds and other institutional investors.
West Pharmaceutical Services Stock Performance
Shares of West Pharmaceutical Services stock opened at $350.68 on Thursday. The firm has a market cap of $24.68 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 2.44 and a beta of 1.15. The company has a quick ratio of 2.12, a current ratio of 2.82 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a 52 week low of $223.83 and a 52 week high of $386.00. The business’s fifty day simple moving average is $349.99 and its 200-day simple moving average is $302.68.
West Pharmaceutical Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Wednesday, July 29th were issued a $0.22 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. West Pharmaceutical Services’s payout ratio is 11.27%.
Wall Street Analyst Weigh In
Several research firms have weighed in on WST. Evercore reiterated an “outperform” rating and set a $425.00 price target on shares of West Pharmaceutical Services in a research note on Monday, July 27th. Stephens reaffirmed an “overweight” rating and set a $360.00 target price on shares of West Pharmaceutical Services in a report on Tuesday, June 2nd. Citigroup upped their target price on West Pharmaceutical Services from $400.00 to $412.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Barclays upgraded 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 report on Tuesday, June 9th. Finally, BNP Paribas Exane started coverage on shares of 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, West Pharmaceutical Services has a consensus rating of “Moderate Buy” and a consensus price target of $368.08.
Check Out 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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