Parnassus Investments LLC raised its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 53.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,389 shares of the medical instruments supplier's stock after acquiring an additional 20,376 shares during the quarter. Parnassus Investments LLC owned approximately 0.08% of West Pharmaceutical Services worth $17,526,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. LGT Group Foundation acquired a new position in West Pharmaceutical Services in the second quarter valued at approximately $68,854,000. Liontrust Investment Partners LLP purchased a new position in shares of West Pharmaceutical Services in the 2nd quarter valued at $64,196,000. Iron Triangle Partners LP acquired a new stake in West Pharmaceutical Services during the 1st quarter worth $47,381,000. Sei Investments Co. lifted its position in West Pharmaceutical Services by 12.7% in the second quarter. Sei Investments Co. now owns 401,026 shares of the medical instruments supplier's stock valued at $132,095,000 after acquiring an additional 45,208 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in West Pharmaceutical Services by 25.0% in the second quarter. Canada Pension Plan Investment Board now owns 207,564 shares of the medical instruments supplier's stock valued at $68,370,000 after acquiring an additional 41,454 shares in the last quarter. Hedge funds and other institutional investors own 93.90% of the company's stock.
Insiders Place Their Bets
In other news, VP Charles Witherspoon sold 703 shares of West Pharmaceutical Services stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $310.40, for a total transaction of $218,211.20. Following the completion of the sale, the vice president now directly owns 1,253 shares in the company, valued at approximately $388,931.20. This trade represents a 35.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.
West Pharmaceutical Services Stock Performance
Shares of WST traded down $3.13 during midday trading on Tuesday, reaching $304.08. 745,433 shares of the stock were exchanged, compared to its average volume of 575,071. The company has a market capitalization of $22.02 billion, a price-to-earnings ratio of 45.12, a PEG ratio of 23.78 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.00 and a quick ratio of 2.23. West Pharmaceutical Services, Inc. has a twelve month low of $265.00 and a twelve month high of $413.70. The business's 50-day moving average price is $306.08 and its 200 day moving average price is $315.42.
West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.35. West Pharmaceutical Services had a net margin of 17.37% and a return on equity of 18.41%. The business had revenue of $746.90 million during the quarter, compared to the consensus estimate of $709.62 million. During the same quarter in the prior year, the firm earned $2.16 earnings per share. The business's quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts expect that West Pharmaceutical Services, Inc. will post 6.66 EPS for the current fiscal year.
West Pharmaceutical Services Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Wednesday, November 13th. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.20. West Pharmaceutical Services's dividend payout ratio is currently 12.46%.
West Pharmaceutical Services Company Profile
(
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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