West Pharmaceutical Services, Inc. $WST Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC trimmed its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 8.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,475 shares of the medical instruments supplier’s stock after selling 9,819 shares during the period. Conestoga Capital Advisors LLC’s holdings in West Pharmaceutical Services were worth $37,623,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Kestra Private Wealth Services LLC lifted its position in shares of West Pharmaceutical Services by 68.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 957 shares of the medical instruments supplier’s stock valued at $355,000 after acquiring an additional 388 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of West Pharmaceutical Services by 6.2% during the third quarter. Chicago Partners Investment Group LLC now owns 2,912 shares of the medical instruments supplier’s stock valued at $1,142,000 after purchasing an additional 170 shares during the period. Sound Financial Strategies Group LLC raised its holdings in shares of West Pharmaceutical Services by 29.6% during the third quarter. Sound Financial Strategies Group LLC now owns 1,401 shares of the medical instruments supplier’s stock valued at $519,000 after purchasing an additional 320 shares during the period. Ascent Group LLC bought a new position in shares of West Pharmaceutical Services during the 3rd quarter worth about $238,000. Finally, Rakuten Investment Management Inc. boosted its position in shares of West Pharmaceutical Services by 7.7% during the 3rd quarter. Rakuten Investment Management Inc. now owns 12,649 shares of the medical instruments supplier’s stock worth $4,764,000 after purchasing an additional 903 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

West Pharmaceutical Services Stock Performance

Shares of WST opened at $409.01 on Thursday. The firm has a market capitalization of $28.49 billion, a P/E ratio of 45.90, a P/E/G ratio of 2.47 and a beta of 1.13. West Pharmaceutical Services, Inc. has a 52 week low of $223.83 and a 52 week high of $438.27. The stock has a 50 day moving average price of $371.16 and a two-hundred day moving average price of $315.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.10 and a current ratio of 2.82.

West Pharmaceutical Services (NYSE:WST) last announced its earnings results on Thursday, October 29th. The medical instruments supplier reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.46. West Pharmaceutical Services had a return on equity of 21.78% and a net margin of 18.81%. The company had revenue of $874.50 million for the quarter, compared to analysts’ expectations of $827.12 million. During the same quarter in the previous year, the firm earned $1.96 earnings per share. West Pharmaceutical Services’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that West Pharmaceutical Services, Inc. will post 9.46 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Wednesday, November 11th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.22. West Pharmaceutical Services’s payout ratio is presently 9.88%.

Insider Activity

In other news, VP Annette Favorite sold 2,524 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $365.00, for a total value of $921,260.00. Following the completion of the transaction, the vice president directly owned 21,818 shares of the company’s stock, valued at $7,963,570. This represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 15,659 shares of company stock valued at $5,443,749. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WST shares. BNP Paribas Exane assumed coverage on West Pharmaceutical Services in a research note on Monday, July 13th. They issued an “outperform” rating and a $447.00 target price for the company. TD Cowen increased their price target on West Pharmaceutical Services from $420.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Barclays raised their price objective on West Pharmaceutical Services from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Jefferies Financial Group restated a “buy” rating and set a $475.00 price objective on shares of West Pharmaceutical Services in a report on Monday. Finally, Morgan Stanley raised West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $365.00 to $400.00 in a research report on Tuesday, September 22nd. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, West Pharmaceutical Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $424.67.

West Pharmaceutical Services Profile

West Pharmaceutical Services, Inc develops and manufactures components and delivery systems used in the administration and packaging of injectable medicines and other healthcare products. Its offerings include elastomer closures, seals, syringe components, drug-delivery systems, and other specialized packaging components designed to support the safety, quality, and performance of pharmaceutical products.

The company also provides contract-manufacturing services for pharmaceutical, biotechnology, and medical-device customers.