Rakuten Investment Management Inc. purchased a new stake in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,746 shares of the medical instruments supplier’s stock, valued at approximately $4,166,000.
Other institutional investors have also recently bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in West Pharmaceutical Services during the 4th quarter worth $25,000. CYBER HORNET ETFs LLC bought a new stake in shares of West Pharmaceutical Services during the second quarter worth $25,000. Cornerstone Planning Group LLC raised its position in shares of West Pharmaceutical Services by 90.9% during the first 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 last quarter. Bayban acquired a new position in shares of West Pharmaceutical Services during the fourth quarter valued at $27,000. Finally, Avalon Trust Co acquired a new position in shares of West Pharmaceutical Services during the second quarter valued at $28,000. Institutional investors own 93.90% of the company’s stock.
West Pharmaceutical Services Stock Performance
Shares of West Pharmaceutical Services stock opened at $338.21 on Monday. The company has a market capitalization of $23.80 billion, a PE ratio of 43.30, a PEG ratio of 2.36 and a beta of 1.15. West Pharmaceutical Services, Inc. has a 12 month low of $223.83 and a 12 month high of $386.00. The company has a current ratio of 2.82, a quick ratio of 2.12 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $350.55 and its 200 day simple moving average is $304.00.
West Pharmaceutical Services Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 29th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, July 29th. West Pharmaceutical Services’s dividend payout ratio (DPR) is 11.27%.
Analyst Upgrades and Downgrades
WST has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and issued a $360.00 price objective on shares of West Pharmaceutical Services in a research report on Tuesday, June 2nd. Zacks Research cut shares of West Pharmaceutical Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. TD Cowen reissued a “buy” rating on shares of West Pharmaceutical Services in a research note on Wednesday, July 15th. KeyCorp increased their price objective on shares of West Pharmaceutical Services from $350.00 to $390.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Finally, BNP Paribas Exane began coverage on shares of West Pharmaceutical Services in a research note on Monday, July 13th. They issued an “outperform” rating and a $447.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $368.08.
Read Our Latest Stock Analysis on West Pharmaceutical Services
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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