Norway Savings Bank Makes New $38,000 Investment in West Pharmaceutical Services Inc. (NYSE:WST)

Norway Savings Bank bought a new position in shares of West Pharmaceutical Services Inc. (NYSE:WST) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 140 shares of the medical instruments supplier’s stock, valued at approximately $38,000.

Other hedge funds have also recently modified their holdings of the company. Citizens Financial Group Inc RI raised its stake in West Pharmaceutical Services by 348.0% during the second quarter. Citizens Financial Group Inc RI now owns 112 shares of the medical instruments supplier’s stock worth $25,000 after purchasing an additional 87 shares during the period. Optimum Investment Advisors purchased a new position in West Pharmaceutical Services during the third quarter worth about $27,000. Parallel Advisors LLC raised its stake in West Pharmaceutical Services by 54.9% during the second quarter. Parallel Advisors LLC now owns 127 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 45 shares during the period. Signaturefd LLC raised its stake in West Pharmaceutical Services by 47.5% during the second quarter. Signaturefd LLC now owns 149 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 48 shares during the period. Finally, Shine Investment Advisory Services Inc. raised its stake in shares of West Pharmaceutical Services by 24.6% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 208 shares of the medical instruments supplier’s stock valued at $47,000 after acquiring an additional 41 shares during the period. 92.55% of the stock is currently owned by institutional investors.

A number of research firms have recently issued reports on WST. Bank of America raised shares of West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Tuesday, July 21st. Stephens began coverage on shares of West Pharmaceutical Services in a research note on Tuesday, October 13th. They issued an “equal weight” rating and a $300.00 price target on the stock. BofA Securities raised shares of West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Tuesday, July 21st. Finally, Zacks Investment Research downgraded shares of West Pharmaceutical Services from a “buy” rating to a “hold” rating in a research note on Wednesday, September 23rd.

In related news, SVP David A. Montecalvo sold 14,508 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $264.82, for a total value of $3,842,008.56. Following the completion of the sale, the senior vice president now owns 15,732 shares in the company, valued at approximately $4,166,148.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Shares of WST stock opened at $292.06 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.23 and a current ratio of 2.96. The stock has a market capitalization of $21.57 billion, a P/E ratio of 77.06, a price-to-earnings-growth ratio of 3.67 and a beta of 1.14. The company has a 50 day moving average price of $277.88 and a 200 day moving average price of $232.24. West Pharmaceutical Services Inc. has a fifty-two week low of $124.53 and a fifty-two week high of $303.14.

West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings data on Thursday, July 23rd. The medical instruments supplier reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.34. West Pharmaceutical Services had a net margin of 14.69% and a return on equity of 19.01%. The firm had revenue of $527.20 million during the quarter, compared to analysts’ expectations of $496.09 million. During the same quarter in the previous year, the business posted $0.89 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts forecast that West Pharmaceutical Services Inc. will post 4.27 EPS for the current fiscal year.

West Pharmaceutical Services Company Profile

West Pharmaceutical Services, Inc manufactures and sells containment and delivery systems for injectable drugs and healthcare products in the United States, Germany, France, Other European countries, South Korea, and internationally. The company operates through two segments, Proprietary Products and Contract-Manufactured Products.

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Institutional Ownership by Quarter for West Pharmaceutical Services (NYSE:WST)

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