Mediolanum International Funds Ltd boosted its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 190.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,117 shares of the medical instruments supplier’s stock after purchasing an additional 11,879 shares during the period. Mediolanum International Funds Ltd’s holdings in West Pharmaceutical Services were worth $4,441,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of West Pharmaceutical Services during the fourth quarter worth about $272,041,000. Generation Investment Management LLP grew its holdings in shares of West Pharmaceutical Services by 60.0% during the fourth quarter. Generation Investment Management LLP now owns 1,561,869 shares of the medical instruments supplier’s stock worth $429,733,000 after buying an additional 585,855 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in West Pharmaceutical Services by 67.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,174,962 shares of the medical instruments supplier’s stock valued at $323,280,000 after buying an additional 473,547 shares during the last quarter. Steadfast Capital Management LP acquired a new stake in West Pharmaceutical Services in the 3rd quarter valued at approximately $123,667,000. Finally, AQR Capital Management LLC lifted its stake in West Pharmaceutical Services by 420.1% in the 3rd quarter. AQR Capital Management LLC now owns 545,879 shares of the medical instruments supplier’s stock valued at $142,949,000 after acquiring an additional 440,929 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.
West Pharmaceutical Services Price Performance
Shares of WST opened at $353.10 on Tuesday. The company has a market cap of $24.95 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 2.90 and a beta of 1.16. West Pharmaceutical Services, Inc. has a 1-year low of $208.71 and a 1-year high of $367.66. The company’s fifty day simple moving average is $333.33 and its 200 day simple moving average is $285.41. The company has a current ratio of 2.71, a quick ratio of 2.04 and a debt-to-equity ratio of 0.07.
Insider Transactions at West Pharmaceutical Services
In related news, CAO Chad Winters sold 896 shares of West Pharmaceutical Services stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $300.67, for a total transaction of $269,400.32. Following the completion of the transaction, the chief accounting officer owned 1,523 shares in the company, valued at approximately $457,920.41. This trade represents a 37.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Annette F. Favorite sold 2,817 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $305.20, for a total value of $859,748.40. Following the transaction, the vice president directly owned 16,828 shares in the company, valued at approximately $5,135,905.60. This trade represents a 14.34% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Evercore reaffirmed an “outperform” rating and set a $410.00 price target on shares of West Pharmaceutical Services in a research note on Monday, July 6th. Barclays raised shares of West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $310.00 to $400.00 in a research report on Tuesday, June 9th. Morgan Stanley increased their target price on shares of West Pharmaceutical Services from $325.00 to $365.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Weiss Ratings raised shares of West Pharmaceutical Services from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, Stephens reiterated an “overweight” rating and issued a $360.00 price target on shares of West Pharmaceutical Services in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $363.17.
Check Out Our Latest Stock Report on West Pharmaceutical Services
About West Pharmaceutical Services
West Pharmaceutical Services, Inc is a global developer and manufacturer of components, systems and services that enable the containment and delivery of injectable drugs. The company focuses on high-quality packaging and delivery solutions for the pharmaceutical and biotech industries, producing primary drug packaging components and specialized drug delivery devices used for vaccines, biologics and other injectable therapies. West is known for its elastomeric closures, seals and polymer components that maintain sterility and compatibility with sensitive drug formulations.
In addition to component manufacturing, West provides engineered delivery systems and support services across the product lifecycle.
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