Fideuram Asset Management Ireland dac acquired a new stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) in the fourth quarter, HoldingsChannel reports. The fund acquired 12,436 shares of the medical instruments supplier’s stock, valued at approximately $3,460,000.
A number of other institutional investors have also modified their holdings of the business. Flagship Harbor Advisors LLC grew its position in shares of West Pharmaceutical Services by 3.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,091 shares of the medical instruments supplier’s stock valued at $286,000 after buying an additional 39 shares during the last quarter. NewEdge Wealth LLC grew its position in West Pharmaceutical Services by 3.5% in the 3rd quarter. NewEdge Wealth LLC now owns 1,174 shares of the medical instruments supplier’s stock worth $333,000 after purchasing an additional 40 shares during the last quarter. Darwin Wealth Management LLC grew its position in West Pharmaceutical Services by 10.8% in the 4th quarter. Darwin Wealth Management LLC now owns 410 shares of the medical instruments supplier’s stock worth $113,000 after purchasing an additional 40 shares during the last quarter. RFG Advisory LLC grew its position in West Pharmaceutical Services by 2.2% in the 3rd quarter. RFG Advisory LLC now owns 2,233 shares of the medical instruments supplier’s stock worth $586,000 after purchasing an additional 47 shares during the last quarter. Finally, Faithward Advisors LLC grew its position in West Pharmaceutical Services by 0.4% in the 3rd quarter. Faithward Advisors LLC now owns 11,855 shares of the medical instruments supplier’s stock worth $3,110,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 93.90% of the company’s stock.
West Pharmaceutical Services Trading Up 3.1%
West Pharmaceutical Services stock opened at $322.27 on Friday. The firm has a 50 day simple moving average of $281.89 and a 200-day simple moving average of $267.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.71 and a quick ratio of 2.04. The stock has a market capitalization of $22.77 billion, a PE ratio of 43.08, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. West Pharmaceutical Services, Inc. has a 12-month low of $206.10 and a 12-month high of $330.88.
West Pharmaceutical Services declared that its board has initiated a stock repurchase plan on Tuesday, February 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical instruments supplier to repurchase up to 5.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Analyst Ratings Changes
Several research analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $295.00 target price on shares of West Pharmaceutical Services in a research report on Tuesday, February 10th. Evercore restated an “outperform” rating on shares of West Pharmaceutical Services in a research report on Friday, April 24th. Weiss Ratings upgraded shares of West Pharmaceutical Services from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Morgan Stanley set a $315.00 target price on shares of West Pharmaceutical Services in a research report on Monday, April 27th. Finally, Barclays upped their target price on shares of West Pharmaceutical Services from $275.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $322.89.
Insider Activity at West Pharmaceutical Services
In other news, VP Annette F. Favorite sold 2,817 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $305.20, for a total value of $859,748.40. Following the completion of the transaction, the vice president directly owned 16,828 shares in the company, valued at $5,135,905.60. This trade represents a 14.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Chad Winters sold 896 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $300.67, for a total transaction of $269,400.32. Following the completion of the transaction, the chief accounting officer owned 1,523 shares of the company’s stock, valued at $457,920.41. This trade represents a 37.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company’s stock.
West Pharmaceutical Services Company 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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