Princeton Global Asset Management LLC Reduces Stock Holdings in West Pharmaceutical Services, Inc. (NYSE:WST)

Princeton Global Asset Management LLC reduced its position in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 60.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 990 shares of the medical instruments supplier's stock after selling 1,517 shares during the quarter. Princeton Global Asset Management LLC's holdings in West Pharmaceutical Services were worth $222,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Gateway Investment Advisers LLC acquired a new stake in shares of West Pharmaceutical Services in the first quarter valued at approximately $11,092,000. Blue Zone Wealth Advisors LLC boosted its holdings in shares of West Pharmaceutical Services by 62.0% in the first quarter. Blue Zone Wealth Advisors LLC now owns 27,615 shares of the medical instruments supplier's stock valued at $6,182,000 after acquiring an additional 10,571 shares during the period. Annex Advisory Services LLC boosted its holdings in shares of West Pharmaceutical Services by 23.1% in the first quarter. Annex Advisory Services LLC now owns 59,866 shares of the medical instruments supplier's stock valued at $13,403,000 after acquiring an additional 11,218 shares during the period. Portside Wealth Group LLC boosted its holdings in shares of West Pharmaceutical Services by 3.3% in the first quarter. Portside Wealth Group LLC now owns 3,103 shares of the medical instruments supplier's stock valued at $695,000 after acquiring an additional 100 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of West Pharmaceutical Services by 28.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,026 shares of the medical instruments supplier's stock worth $1,125,000 after purchasing an additional 1,117 shares during the period. 93.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WST has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised West Pharmaceutical Services from a "hold" rating to a "buy" rating and set a $250.00 price target for the company in a report on Friday, February 14th. Wall Street Zen downgraded West Pharmaceutical Services from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Stephens raised West Pharmaceutical Services to a "strong-buy" rating in a report on Monday, April 21st. KeyCorp decreased their price target on West Pharmaceutical Services from $470.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Finally, Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, West Pharmaceutical Services currently has an average rating of "Moderate Buy" and an average price target of $332.50.

West Pharmaceutical Services Price Performance

NYSE:WST traded up $3.68 during trading hours on Tuesday, hitting $227.45. The company's stock had a trading volume of 757,302 shares, compared to its average volume of 734,146. The business's 50-day moving average is $210.55 and its two-hundred day moving average is $262.16. The company has a market capitalization of $16.34 billion, a PE ratio of 34.00, a PEG ratio of 6.74 and a beta of 1.09. 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, Inc. has a 52-week low of $187.43 and a 52-week high of $352.33.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.23. The firm had revenue of $698.00 million during the quarter, compared to analysts' expectations of $685.24 million. West Pharmaceutical Services had a return on equity of 18.60% and a net margin of 17.03%. West Pharmaceutical Services's revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 earnings per share. As a group, research analysts anticipate that West Pharmaceutical Services, Inc. will post 6.62 EPS for the current fiscal year.

West Pharmaceutical Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 30th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Wednesday, July 30th. West Pharmaceutical Services's dividend payout ratio is currently 13.19%.

West Pharmaceutical Services 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.