Dai Ichi Life Insurance Company Ltd bought a new stake in shares of West Pharmaceutical Services Inc. (NYSE:WST) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 912 shares of the medical instruments supplier’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in West Pharmaceutical Services by 416.4% in the first quarter. The Manufacturers Life Insurance Company now owns 535,941 shares of the medical instruments supplier’s stock worth $81,597,000 after buying an additional 432,151 shares during the period. Victory Capital Management Inc. raised its stake in shares of West Pharmaceutical Services by 226.0% in the first quarter. Victory Capital Management Inc. now owns 563,548 shares of the medical instruments supplier’s stock worth $85,800,000 after purchasing an additional 390,691 shares during the last quarter. BlackRock Inc. grew its stake in shares of West Pharmaceutical Services by 3.7% in the first quarter. BlackRock Inc. now owns 8,461,300 shares of the medical instruments supplier’s stock worth $1,288,234,000 after acquiring an additional 302,380 shares during the period. Prudential Financial Inc. grew its stake in shares of West Pharmaceutical Services by 47.8% in the second quarter. Prudential Financial Inc. now owns 360,759 shares of the medical instruments supplier’s stock worth $81,953,000 after acquiring an additional 116,645 shares during the period. Finally, Acadian Asset Management LLC lifted its position in West Pharmaceutical Services by 813.3% during the first quarter. Acadian Asset Management LLC now owns 129,548 shares of the medical instruments supplier’s stock valued at $19,726,000 after purchasing an additional 115,363 shares during the period. Institutional investors own 92.55% of the company’s stock.
In other news, SVP David A. Montecalvo sold 14,508 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 directly owns 15,732 shares of the company’s stock, valued at approximately $4,166,148.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.
NYSE:WST opened at $267.30 on Friday. The business’s 50-day moving average is $266.47 and its 200 day moving average is $205.44. West Pharmaceutical Services Inc. has a 12 month low of $124.53 and a 12 month high of $288.65. The company has a market capitalization of $21.27 billion, a P/E ratio of 74.42, a P/E/G ratio of 3.88 and a beta of 1.14. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 0.16.
West Pharmaceutical Services (NYSE:WST) last issued its quarterly earnings data on Thursday, July 23rd. The medical instruments supplier reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.34. West Pharmaceutical Services had a return on equity of 19.01% and a net margin of 14.69%. The business had revenue of $527.20 million for the quarter, compared to analysts’ expectations of $496.09 million. During the same period in the prior year, the firm earned $0.89 EPS. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, research analysts forecast that West Pharmaceutical Services Inc. will post 4.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Tuesday, July 28th. West Pharmaceutical Services’s dividend payout ratio is 19.75%.
Several analysts recently issued reports on WST shares. Bank of America upgraded shares of West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Tuesday, July 21st. BofA Securities raised West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 price objective on the stock in a research note on Tuesday, July 21st.
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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