Nan Shan Life Insurance Co. Ltd. trimmed its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 71.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 31,216 shares of the medical instruments supplier’s stock after selling 78,651 shares during the period. Nan Shan Life Insurance Co. Ltd.’s holdings in West Pharmaceutical Services were worth $11,207,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new position in West Pharmaceutical Services in the fourth quarter worth $25,000. CYBER HORNET ETFs LLC bought a new stake in shares of West Pharmaceutical Services during the 2nd quarter valued at $25,000. Cornerstone Planning Group LLC grew its position 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 buying an additional 50 shares during the period. Bayban bought a new position in shares of West Pharmaceutical Services in the 4th quarter worth about $27,000. Finally, Avalon Trust Co bought a new stake in West Pharmaceutical Services during the second quarter worth about $28,000. 93.90% of the stock is currently owned by institutional investors.
West Pharmaceutical Services Trading Down 0.6%
Shares of NYSE:WST opened at $339.04 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.82 and a quick ratio of 2.12. West Pharmaceutical Services, Inc. has a 1 year low of $223.83 and a 1 year high of $386.00. The company has a market cap of $23.86 billion, a P/E ratio of 43.41, a PEG ratio of 2.39 and a beta of 1.14. The stock’s fifty day moving average price is $350.85 and its 200-day moving average price is $305.33.
West Pharmaceutical Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 29th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, July 29th. West Pharmaceutical Services’s payout ratio is 11.27%.
Analysts Set New Price Targets
A number of brokerages have recently commented on WST. BNP Paribas Exane initiated coverage on West Pharmaceutical Services in a research report on Monday, July 13th. They issued an “outperform” rating and a $447.00 price target on the stock. Citigroup increased their target price on West Pharmaceutical Services from $400.00 to $412.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Wolfe Research initiated coverage on shares of West Pharmaceutical Services in a research note on Monday, June 1st. They issued an “outperform” rating and a $375.00 price target on the stock. Morgan Stanley lifted their target price on shares of West Pharmaceutical Services from $325.00 to $365.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Zacks Research downgraded shares of West Pharmaceutical Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $368.08.
Get Our Latest Research Report on WST
West Pharmaceutical Services 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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