Resona Asset Management Co. Ltd. raised its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,883 shares of the medical instruments supplier's stock after acquiring an additional 1,563 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in West Pharmaceutical Services were worth $6,451,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Boston Trust Walden Corp raised its holdings in West Pharmaceutical Services by 4.7% during the first quarter. Boston Trust Walden Corp now owns 1,110 shares of the medical instruments supplier's stock valued at $249,000 after acquiring an additional 50 shares during the period. MGO One Seven LLC increased its holdings in shares of West Pharmaceutical Services by 4.4% in the fourth quarter. MGO One Seven LLC now owns 1,277 shares of the medical instruments supplier's stock worth $418,000 after purchasing an additional 54 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of West Pharmaceutical Services by 0.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 9,318 shares of the medical instruments supplier's stock worth $3,105,000 after purchasing an additional 55 shares during the last quarter. Formidable Asset Management LLC increased its holdings in shares of West Pharmaceutical Services by 2.7% in the fourth quarter. Formidable Asset Management LLC now owns 2,067 shares of the medical instruments supplier's stock worth $677,000 after purchasing an additional 55 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of West Pharmaceutical Services by 0.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,887 shares of the medical instruments supplier's stock worth $1,766,000 after purchasing an additional 57 shares during the last quarter. 93.90% of the stock is owned by institutional investors.
West Pharmaceutical Services Trading Down 0.0%
Shares of NYSE:WST traded down $0.04 during trading hours on Friday, hitting $246.16. 781,012 shares of the company's stock traded hands, compared to its average volume of 876,536. West Pharmaceutical Services, Inc. has a 1 year low of $187.43 and a 1 year high of $352.33. The business has a fifty day moving average price of $230.05 and a 200-day moving average price of $228.59. The firm has a market capitalization of $17.70 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 4.36 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.78 and a quick ratio of 2.08.
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 the consensus estimate of $1.51 by $0.33. West Pharmaceutical Services had a return on equity of 18.43% and a net margin of 16.48%. The business had revenue of $766.50 million during the quarter, compared to analyst estimates of $725.11 million. During the same quarter in the previous year, the business earned $1.52 earnings per share. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. Equities analysts expect that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current year.
West Pharmaceutical Services Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.22 per share. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 12th. West Pharmaceutical Services's payout ratio is presently 12.57%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on WST. Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a report on Thursday, May 22nd. Stephens raised West Pharmaceutical Services to a "strong-buy" rating in a report on Monday, April 21st. Evercore ISI lifted their target price on West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Wall Street Zen raised West Pharmaceutical Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, UBS Group lifted their target price on West Pharmaceutical Services from $285.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $320.71.
Get Our Latest Analysis on WST
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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