Resona Asset Management Co. Ltd. acquired a new position in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 27,320 shares of the medical instruments supplier's stock, valued at approximately $8,994,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Baron Wealth Management LLC grew its stake in West Pharmaceutical Services by 1.9% in the fourth quarter. Baron Wealth Management LLC now owns 1,926 shares of the medical instruments supplier's stock worth $631,000 after purchasing an additional 35 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in West Pharmaceutical Services by 18.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 239 shares of the medical instruments supplier's stock worth $78,000 after buying an additional 38 shares during the last quarter. Lake Street Advisors Group LLC grew its position in shares of West Pharmaceutical Services by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 711 shares of the medical instruments supplier's stock worth $233,000 after acquiring an additional 39 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of West Pharmaceutical Services by 57.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 110 shares of the medical instruments supplier's stock valued at $38,000 after acquiring an additional 40 shares during the last quarter. Finally, KBC Group NV raised its position in shares of West Pharmaceutical Services by 0.4% during the 4th quarter. KBC Group NV now owns 9,980 shares of the medical instruments supplier's stock valued at $3,269,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 93.90% of the company's stock.
West Pharmaceutical Services Stock Performance
Shares of WST traded up $7.00 during mid-day trading on Friday, reaching $210.75. 804,963 shares of the company's stock traded hands, compared to its average volume of 690,645. West Pharmaceutical Services, Inc. has a 12 month low of $187.43 and a 12 month high of $394.42. The stock has a market capitalization of $15.24 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 6.74 and a beta of 1.22. The business's 50-day moving average price is $231.81 and its 200-day moving average price is $289.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.79.
West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The medical instruments supplier reported $1.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.07. The company had revenue of $748.80 million during the quarter, compared to analyst estimates of $739.59 million. West Pharmaceutical Services had a return on equity of 18.60% and a net margin of 17.03%. Equities analysts predict that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current year.
West Pharmaceutical Services Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Wednesday, April 30th. West Pharmaceutical Services's payout ratio is currently 12.56%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on WST. Deutsche Bank Aktiengesellschaft upgraded shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating and set a $250.00 target price for the company in a research note on Friday, February 14th. StockNews.com lowered shares of West Pharmaceutical Services from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Evercore ISI began coverage on West Pharmaceutical Services in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $275.00 target price for the company. Citigroup started coverage on West Pharmaceutical Services in a report on Wednesday, January 8th. They set a "buy" rating and a $400.00 target price for the company. Finally, KeyCorp cut their price target on West Pharmaceutical Services from $470.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $332.50.
View Our Latest Stock Analysis on WST
About West Pharmaceutical Services
(
Free Report)
West Pharmaceutical Services, Inc designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products.
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