Fisher Asset Management LLC decreased its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,576 shares of the medical instruments supplier’s stock after selling 3,373 shares during the quarter. Fisher Asset Management LLC’s holdings in West Pharmaceutical Services were worth $5,111,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of WST. Empowered Funds LLC grew its position in shares of West Pharmaceutical Services by 16.1% during the 1st quarter. Empowered Funds LLC now owns 1,611 shares of the medical instruments supplier’s stock worth $361,000 after buying an additional 224 shares during the period. Intech Investment Management LLC grew its position in shares of West Pharmaceutical Services by 27.7% during the 1st quarter. Intech Investment Management LLC now owns 6,020 shares of the medical instruments supplier’s stock worth $1,348,000 after buying an additional 1,307 shares during the period. Acadian Asset Management LLC grew its position in shares of West Pharmaceutical Services by 14.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,271 shares of the medical instruments supplier’s stock worth $284,000 after buying an additional 157 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of West Pharmaceutical Services by 78.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 449 shares of the medical instruments supplier’s stock worth $98,000 after buying an additional 197 shares during the period. Finally, First Trust Advisors LP grew its position in shares of West Pharmaceutical Services by 168.4% during the 2nd quarter. First Trust Advisors LP now owns 46,332 shares of the medical instruments supplier’s stock worth $10,137,000 after buying an additional 29,067 shares during the period. Institutional investors and hedge funds own 93.90% of the company’s stock.
West Pharmaceutical Services Stock Up 3.1%
West Pharmaceutical Services stock opened at $322.27 on Friday. The company’s 50 day simple moving average is $281.89 and its 200 day simple moving average is $267.33. West Pharmaceutical Services, Inc. has a fifty-two week low of $206.10 and a fifty-two week high of $330.88. The firm has a market capitalization of $22.77 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.71 and a quick ratio of 2.04.
West Pharmaceutical Services declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 5.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Insider Buying and Selling
In other West Pharmaceutical Services news, VP Annette F. Favorite sold 2,817 shares of West Pharmaceutical Services stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $305.20, for a total value of $859,748.40. Following the transaction, the vice president owned 16,828 shares of the company’s stock, valued at approximately $5,135,905.60. The trade was a 14.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Chad Winters sold 896 shares of West Pharmaceutical Services stock in a transaction that occurred on Monday, April 27th. The shares were 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 directly owned 1,523 shares in the company, valued at approximately $457,920.41. The trade was a 37.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on WST. Barclays lifted their price objective on shares of West Pharmaceutical Services from $275.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $315.00 price objective on shares of West Pharmaceutical Services in a research note on Friday, February 13th. Citigroup reissued a “buy” rating on shares of West Pharmaceutical Services in a research note on Friday, April 24th. Morgan Stanley set a $315.00 price objective on shares of West Pharmaceutical Services in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of West Pharmaceutical Services from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, West Pharmaceutical Services has an average rating of “Moderate Buy” and a consensus target price of $322.89.
Get Our Latest Research Report on West Pharmaceutical Services
West Pharmaceutical Services Company Profile
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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