Stifel Financial Corp grew its holdings in shares of West Pharmaceutical Services Inc. (NYSE:WST) by 10.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,270 shares of the medical instruments supplier’s stock after purchasing an additional 2,047 shares during the period. Stifel Financial Corp’s holdings in West Pharmaceutical Services were worth $2,142,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in WST. Acrospire Investment Management LLC purchased a new position in shares of West Pharmaceutical Services during the second quarter valued at approximately $113,000. Citigroup Inc. lifted its holdings in shares of West Pharmaceutical Services by 95.1% during the second quarter. Citigroup Inc. now owns 1,569 shares of the medical instruments supplier’s stock valued at $148,000 after purchasing an additional 765 shares during the last quarter. Wolverine Trading LLC purchased a new position in shares of West Pharmaceutical Services during the second quarter valued at approximately $200,000. Nomura Holdings Inc. purchased a new position in shares of West Pharmaceutical Services during the second quarter valued at approximately $201,000. Finally, Grandfield & Dodd LLC purchased a new position in shares of West Pharmaceutical Services during the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 93.25% of the company’s stock.
Shares of West Pharmaceutical Services Inc. (NYSE:WST) traded down $1.35 on Friday, hitting $97.74. 414,340 shares of the company traded hands, compared to its average volume of 275,972. The company has a market capitalization of $7,260.00, a P/E ratio of 38.94, a P/E/G ratio of 2.03 and a beta of 1.12. The company has a quick ratio of 1.87, a current ratio of 2.59 and a debt-to-equity ratio of 0.15. West Pharmaceutical Services Inc. has a 12 month low of $77.97 and a 12 month high of $103.36.
West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings results on Thursday, October 26th. The medical instruments supplier reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.14. The company had revenue of $398.20 million during the quarter, compared to the consensus estimate of $386.02 million. West Pharmaceutical Services had a net margin of 12.12% and a return on equity of 14.47%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. equities analysts predict that West Pharmaceutical Services Inc. will post 2.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Thursday, January 18th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Wednesday, January 17th. West Pharmaceutical Services’s dividend payout ratio (DPR) is currently 22.31%.
In other West Pharmaceutical Services news, CFO William J. Federici sold 21,000 shares of West Pharmaceutical Services stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $99.01, for a total value of $2,079,210.00. Following the completion of the sale, the chief financial officer now owns 190,493 shares of the company’s stock, valued at approximately $18,860,711.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.
WST has been the subject of several recent research reports. Jefferies Group upgraded shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and lifted their target price for the company from $96.00 to $115.00 in a report on Friday, September 15th. Bank of America lowered shares of West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 target price for the company. in a report on Tuesday, October 17th. Wells Fargo & Co raised their price target on shares of West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Zacks Investment Research raised shares of West Pharmaceutical Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Stephens began coverage on shares of West Pharmaceutical Services in a research report on Tuesday, October 3rd. They set an “equal weight” rating and a $99.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $106.00.
West Pharmaceutical Services Company Profile
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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