Rhenman & Partners Asset Management AB Sells 6,000 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

Rhenman & Partners Asset Management AB cut its holdings in West Pharmaceutical Services, Inc. (NYSE:WST) by 40.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,000 shares of the medical instruments supplier’s stock after selling 6,000 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in West Pharmaceutical Services were worth $3,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in West Pharmaceutical Services in the first quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of West Pharmaceutical Services in the 2nd quarter worth about $31,000. Altshuler Shaham Ltd bought a new stake in shares of West Pharmaceutical Services during the 2nd quarter valued at about $31,000. Clear Street Markets LLC increased its position in shares of West Pharmaceutical Services by 93.3% during the first quarter. Clear Street Markets LLC now owns 145 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 70 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in West Pharmaceutical Services by 37.4% in the first quarter. First Horizon Advisors Inc. now owns 147 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 40 shares in the last quarter. Institutional investors own 91.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com raised West Pharmaceutical Services from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Stephens lowered their price objective on West Pharmaceutical Services from $420.00 to $390.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. Finally, KeyCorp upped their target price on shares of West Pharmaceutical Services from $415.00 to $440.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 30th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, West Pharmaceutical Services has a consensus rating of “Moderate Buy” and an average price target of $355.00.

Insider Activity

In related news, VP Annette F. Favorite sold 2,000 shares of West Pharmaceutical Services stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $414.64, for a total value of $829,280.00. Following the completion of the sale, the vice president now directly owns 14,877 shares in the company, valued at approximately $6,168,599.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Charles Witherspoon sold 1,190 shares of West Pharmaceutical Services stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $322.37, for a total value of $383,620.30. Following the completion of the sale, the vice president now owns 1,835 shares of the company’s stock, valued at $591,548.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Annette F. Favorite sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $414.64, for a total value of $829,280.00. Following the sale, the vice president now owns 14,877 shares of the company’s stock, valued at approximately $6,168,599.28. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company’s stock.

West Pharmaceutical Services Stock Up 0.4 %

West Pharmaceutical Services stock traded up $1.37 during mid-day trading on Tuesday, reaching $350.40. The stock had a trading volume of 134,467 shares, compared to its average volume of 440,294. West Pharmaceutical Services, Inc. has a one year low of $220.80 and a one year high of $415.73. The company has a 50-day moving average price of $363.59 and a two-hundred day moving average price of $369.91. The company has a market capitalization of $25.93 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 8.59 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.70 and a quick ratio of 2.89.

West Pharmaceutical Services (NYSE:WST) last issued its earnings results on Thursday, October 26th. The medical instruments supplier reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.30. The firm had revenue of $747.40 million for the quarter, compared to the consensus estimate of $750.31 million. West Pharmaceutical Services had a net margin of 19.11% and a return on equity of 21.86%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. On average, analysts expect that West Pharmaceutical Services, Inc. will post 8.02 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th were paid a $0.20 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $0.80 annualized dividend and a dividend yield of 0.23%. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.19. West Pharmaceutical Services’s payout ratio is currently 10.80%.

West Pharmaceutical Services Profile

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.