State Treasurer State of Michigan reduced its position in shares of West Pharmaceutical Services Inc. (NYSE:WST) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 26,700 shares of the medical instruments supplier’s stock after selling 1,100 shares during the quarter. State Treasurer State of Michigan’s holdings in West Pharmaceutical Services were worth $2,634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its stake in West Pharmaceutical Services by 15.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,883 shares of the medical instruments supplier’s stock worth $374,000 after purchasing an additional 510 shares in the last quarter. Bessemer Group Inc. increased its stake in West Pharmaceutical Services by 4.8% in the 3rd quarter. Bessemer Group Inc. now owns 12,510 shares of the medical instruments supplier’s stock worth $1,204,000 after purchasing an additional 578 shares in the last quarter. Retirement Systems of Alabama increased its stake in West Pharmaceutical Services by 0.5% in the 3rd quarter. Retirement Systems of Alabama now owns 138,483 shares of the medical instruments supplier’s stock worth $13,330,000 after purchasing an additional 660 shares in the last quarter. Eqis Capital Management Inc. increased its stake in West Pharmaceutical Services by 20.1% in the 3rd quarter. Eqis Capital Management Inc. now owns 3,987 shares of the medical instruments supplier’s stock worth $384,000 after purchasing an additional 667 shares in the last quarter. Finally, Citigroup Inc. increased its stake in West Pharmaceutical Services by 95.1% in the 2nd quarter. Citigroup Inc. now owns 1,569 shares of the medical instruments supplier’s stock worth $148,000 after purchasing an additional 765 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

West Pharmaceutical Services Inc. (WST) opened at $91.25 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.87 and a current ratio of 2.59. West Pharmaceutical Services Inc. has a 12 month low of $77.97 and a 12 month high of $103.36. The firm has a market capitalization of $6,713.95, a PE ratio of 36.35, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Thursday, January 18th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, January 17th. This represents a $0.56 annualized dividend and a yield of 0.61%. West Pharmaceutical Services’s dividend payout ratio (DPR) is presently 22.31%.

In other West Pharmaceutical Services news, CFO William J. Federici sold 21,000 shares of West Pharmaceutical Services stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $99.01, for a total transaction of $2,079,210.00. Following the transaction, the chief financial officer now owns 190,493 shares of the company’s stock, valued at approximately $18,860,711.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

WST has been the topic of a number of analyst reports. Zacks Investment Research raised West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Saturday, February 3rd. Goldman Sachs Group initiated coverage on West Pharmaceutical Services in a research note on Wednesday, January 24th. They issued a “neutral” rating and a $110.00 price target on the stock. Bank of America cut West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 price target on the stock. in a research note on Tuesday, October 17th. Finally, Wells Fargo & Co lifted their price target on West Pharmaceutical Services from $105.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $108.17.

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West Pharmaceutical Services Profile

West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.

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Institutional Ownership by Quarter for West Pharmaceutical Services (NYSE:WST)

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