Wells Fargo & Company MN lessened its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 27.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,393 shares of the medical instruments supplier's stock after selling 35,467 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of West Pharmaceutical Services worth $30,592,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in West Pharmaceutical Services in the 4th quarter valued at $290,604,000. Van ECK Associates Corp lifted its position in West Pharmaceutical Services by 5,074.0% during the 4th quarter. Van ECK Associates Corp now owns 689,493 shares of the medical instruments supplier's stock worth $225,851,000 after acquiring an additional 676,167 shares in the last quarter. William Blair Investment Management LLC grew its position in West Pharmaceutical Services by 731.8% in the fourth quarter. William Blair Investment Management LLC now owns 640,735 shares of the medical instruments supplier's stock valued at $209,879,000 after acquiring an additional 563,705 shares in the last quarter. Seilern Investment Management Ltd acquired a new position in shares of West Pharmaceutical Services during the fourth quarter worth $145,379,000. Finally, American Century Companies Inc. boosted its stake in shares of West Pharmaceutical Services by 1,449.4% in the fourth quarter. American Century Companies Inc. now owns 257,245 shares of the medical instruments supplier's stock valued at $84,263,000 after purchasing an additional 240,642 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.
West Pharmaceutical Services Price Performance
Shares of NYSE WST traded down $0.29 during mid-day trading on Tuesday, reaching $212.39. 592,381 shares of the company traded hands, compared to its average volume of 690,126. The firm has a market cap of $15.35 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 6.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.79 and a quick ratio of 2.23. West Pharmaceutical Services, Inc. has a fifty-two week low of $187.43 and a fifty-two week high of $394.42. The stock has a fifty day simple moving average of $229.35 and a 200-day simple moving average of $289.05.
West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The medical instruments supplier reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.07. West Pharmaceutical Services had a net margin of 17.03% and a return on equity of 18.60%. The company had revenue of $748.80 million during the quarter, compared to analyst estimates of $739.59 million. Equities research analysts anticipate that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current fiscal year.
West Pharmaceutical Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, April 30th. This represents a $0.84 annualized dividend and a yield of 0.40%. West Pharmaceutical Services's payout ratio is presently 12.56%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. KeyCorp decreased their price objective on shares of West Pharmaceutical Services from $470.00 to $325.00 and set an "overweight" rating for the company in a research report 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. Deutsche Bank Aktiengesellschaft upgraded West Pharmaceutical Services from a "hold" rating to a "buy" rating and set a $250.00 price target for the company in a research note on Friday, February 14th. Evercore ISI began coverage on West Pharmaceutical Services in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $275.00 target price for the company. Finally, Citigroup initiated coverage on West Pharmaceutical Services in a research note on Wednesday, January 8th. They set a "buy" rating and a $400.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, West Pharmaceutical Services currently has a consensus rating of "Moderate Buy" and an average price target of $332.50.
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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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