Redwood Investment Management LLC acquired a new stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,168 shares of the medical instruments supplier’s stock, valued at approximately $1,045,000.
Several other large investors also recently modified their holdings of the stock. Elyxium Wealth LLC bought a new position in shares of West Pharmaceutical Services during the fourth quarter valued at $25,000. CYBER HORNET ETFs LLC acquired a new stake in shares of West Pharmaceutical Services during the second quarter worth approximately $25,000. Cornerstone Planning Group LLC increased its holdings in shares of West Pharmaceutical Services by 90.9% during the first quarter. Cornerstone Planning Group LLC now owns 105 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Bayban bought a new position in shares of West Pharmaceutical Services in the fourth quarter valued at approximately $27,000. Finally, Private Trust Co. NA raised its stake in shares of West Pharmaceutical Services by 156.4% in the fourth quarter. Private Trust Co. NA now owns 100 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 61 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors.
West Pharmaceutical Services Stock Up 2.0%
WST stock opened at $347.75 on Tuesday. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 44.53, a P/E/G ratio of 2.38 and a beta of 1.15. West Pharmaceutical Services, Inc. has a twelve month low of $223.83 and a twelve month high of $386.00. The business has a 50 day moving average price of $340.42 and a two-hundred day moving average price of $290.17. The company has a quick ratio of 2.12, a current ratio of 2.82 and a debt-to-equity ratio of 0.07.
West Pharmaceutical Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 29th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, July 29th. West Pharmaceutical Services’s dividend payout ratio (DPR) is presently 11.27%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on WST. BNP Paribas Exane assumed coverage on West Pharmaceutical Services in a research note on Monday, July 13th. They issued an “outperform” rating and a $447.00 target price for the company. Citigroup lifted their price target on shares of West Pharmaceutical Services from $400.00 to $412.00 and gave the stock a “buy” rating in a research report on Monday. Wolfe Research started coverage on West Pharmaceutical Services in a research report on Monday, June 1st. They issued an “outperform” rating and a $375.00 price target on the stock. Zacks Research upgraded West Pharmaceutical Services from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, KeyCorp boosted their price objective on shares of West Pharmaceutical Services from $350.00 to $390.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, West Pharmaceutical Services currently has an average rating of “Buy” and a consensus price target of $368.08.
Get Our Latest Stock Analysis on West Pharmaceutical Services
West Pharmaceutical Services 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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