Resona Asset Management Co. Ltd. Decreases Stake in West Pharmaceutical Services, Inc. $WST

Resona Asset Management Co. Ltd. lowered its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,499 shares of the medical instruments supplier’s stock after selling 3,060 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in West Pharmaceutical Services were worth $7,979,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Asset Management One Co. Ltd. raised its stake in shares of West Pharmaceutical Services by 16.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 69,775 shares of the medical instruments supplier’s stock worth $18,304,000 after purchasing an additional 10,009 shares during the period. Amundi increased its holdings in West Pharmaceutical Services by 83.4% during the second quarter. Amundi now owns 502,831 shares of the medical instruments supplier’s stock worth $111,236,000 after buying an additional 228,696 shares during the last quarter. Caxton Associates LLP purchased a new stake in West Pharmaceutical Services during the second quarter worth about $1,610,000. North Growth Management Ltd. raised its position in West Pharmaceutical Services by 17.2% in the third quarter. North Growth Management Ltd. now owns 34,000 shares of the medical instruments supplier’s stock worth $8,930,000 after acquiring an additional 5,000 shares during the period. Finally, Birch Hill Investment Advisors LLC boosted its stake in West Pharmaceutical Services by 87.4% in the third quarter. Birch Hill Investment Advisors LLC now owns 136,470 shares of the medical instruments supplier’s stock valued at $35,800,000 after acquiring an additional 63,638 shares during the last quarter. 93.90% of the stock is owned by institutional investors.

West Pharmaceutical Services Trading Up 1.9%

Shares of West Pharmaceutical Services stock opened at $241.18 on Tuesday. The company’s 50-day moving average price is $270.31 and its 200-day moving average price is $261.20. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a 12-month low of $187.43 and a 12-month high of $348.90. The company has a market cap of $17.35 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 3.26 and a beta of 1.17.

West Pharmaceutical Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 28th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, January 28th. West Pharmaceutical Services’s dividend payout ratio (DPR) is presently 13.04%.

Wall Street Analyst Weigh In

WST has been the subject of several research analyst reports. Wall Street Zen upgraded shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of West Pharmaceutical Services in a research note on Friday, January 9th. UBS Group raised their target price on West Pharmaceutical Services from $320.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Evercore ISI boosted their target price on West Pharmaceutical Services from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, TD Cowen began coverage on West Pharmaceutical Services in a research report on Wednesday, October 29th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $335.78.

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.