Assenagon Asset Management S.A. Has $33.58 Million Position in West Pharmaceutical Services, Inc. $WST

Key Points

• Assenagon Asset Management S.A. has decreased its stake in West Pharmaceutical Services by 34.6%, selling 81,348 shares, and currently holds 153,459 shares worth approximately $33.6 million.
• Several hedge funds, including Boston Trust Walden Corp and Horizon Investments LLC, have increased their holdings in West Pharmaceutical Services, indicating a broader interest among institutional investors.
• Following a strong quarterly earnings report, analysts revised their target prices for the stock, with a consensus target price of $318.56 and an average rating of "Buy."

Assenagon Asset Management S.A. reduced its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 34.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 153,459 shares of the medical instruments supplier's stock after selling 81,348 shares during the period. Assenagon Asset Management S.A. owned 0.21% of West Pharmaceutical Services worth $33,577,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. IFM Investors Pty Ltd lifted its holdings in West Pharmaceutical Services by 6.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 13,681 shares of the medical instruments supplier's stock valued at $2,993,000 after purchasing an additional 828 shares during the last quarter. Rockland Trust Co. boosted its stake in shares of West Pharmaceutical Services by 20.5% in the 2nd quarter. Rockland Trust Co. now owns 77,979 shares of the medical instruments supplier's stock valued at $17,062,000 after purchasing an additional 13,255 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of West Pharmaceutical Services by 14.4% in the 2nd quarter. Fulton Bank N.A. now owns 1,397 shares of the medical instruments supplier's stock valued at $306,000 after purchasing an additional 176 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of West Pharmaceutical Services in the 2nd quarter valued at approximately $380,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of West Pharmaceutical Services by 2.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,117 shares of the medical instruments supplier's stock valued at $1,776,000 after acquiring an additional 230 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WST has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Rothschild & Co Redburn started coverage on shares of West Pharmaceutical Services in a report on Monday, September 15th. They issued a "buy" rating and a $311.00 price objective on the stock. UBS Group lifted their price objective on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a report on Friday, July 25th. Rothschild Redb upgraded shares of West Pharmaceutical Services to a "strong-buy" rating in a report on Monday, September 15th. Finally, Redburn Partners set a $311.00 price objective on shares of West Pharmaceutical Services in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $318.56.

West Pharmaceutical Services Stock Performance

Shares of West Pharmaceutical Services stock traded down $2.61 during trading on Monday, reaching $252.24. The company's stock had a trading volume of 473,261 shares, compared to its average volume of 574,118. The business's 50-day moving average price is $244.75 and its 200-day moving average price is $226.51. The firm has a market cap of $18.14 billion, a PE ratio of 37.76, a P/E/G ratio of 4.52 and a beta of 1.05. West Pharmaceutical Services, Inc. has a 52 week low of $187.43 and a 52 week high of $352.33. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.07.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.33. The company had revenue of $766.50 million during the quarter, compared to analysts' expectations of $725.11 million. West Pharmaceutical Services had a net margin of 16.48% and a return on equity of 18.43%. West Pharmaceutical Services's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 earnings per share. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. Equities analysts forecast that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, November 12th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. This is a positive change from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's dividend payout ratio (DPR) is 12.57%.

West Pharmaceutical Services Company Profile

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.