The Manufacturers Life Insurance Company trimmed its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 32.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,358 shares of the medical instruments supplier’s stock after selling 23,094 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of West Pharmaceutical Services worth $11,867,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of WST. Elyxium Wealth LLC acquired a new position in shares of West Pharmaceutical Services during the fourth quarter valued at $25,000. CYBER HORNET ETFs LLC bought a new stake in shares of West Pharmaceutical Services during the 2nd quarter worth about $25,000. Cornerstone Planning Group LLC lifted its stake in shares of West Pharmaceutical Services by 90.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 105 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 50 shares during the period. Bayban bought a new position in shares of West Pharmaceutical Services in the fourth quarter valued at approximately $27,000. Finally, Private Trust Co. NA boosted its holdings in shares of West Pharmaceutical Services by 156.4% in the fourth quarter. Private Trust Co. NA now owns 100 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.
West Pharmaceutical Services Stock Performance
WST opened at $341.04 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.12 and a current ratio of 2.82. The company has a market cap of $24.00 billion, a PE ratio of 43.67, a price-to-earnings-growth ratio of 2.38 and a beta of 1.15. The stock has a 50-day moving average of $339.80 and a 200-day moving average of $289.64. West Pharmaceutical Services, Inc. has a 52-week low of $223.83 and a 52-week high of $386.00.
West Pharmaceutical Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 29th will be paid a $0.22 dividend. The ex-dividend date is 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 presently 11.27%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on WST. Morgan Stanley boosted their price objective on West Pharmaceutical Services from $325.00 to $365.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. KeyCorp upped their price objective on shares of West Pharmaceutical Services from $350.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Evercore reiterated an “outperform” rating and issued a $425.00 target price on shares of West Pharmaceutical Services in a report on Monday, July 27th. Citigroup restated a “buy” rating on shares of West Pharmaceutical Services in a report on Friday, April 24th. Finally, BNP Paribas Exane initiated coverage on West Pharmaceutical Services in a research note on Monday, July 13th. They set an “outperform” rating and a $447.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $364.42.
Read Our Latest Analysis on WST
About West Pharmaceutical Services
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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