Envestnet Portfolio Solutions Inc. Sells 2,138 Shares of West Pharmaceutical Services, Inc. $WST

Envestnet Portfolio Solutions Inc. reduced its stake in West Pharmaceutical Services, Inc. (NYSE:WST) by 31.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,694 shares of the medical instruments supplier’s stock after selling 2,138 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in West Pharmaceutical Services were worth $1,231,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WST. Generation Investment Management LLP bought a new position in shares of West Pharmaceutical Services during the second quarter valued at about $255,072,000. Norges Bank purchased a new stake in West Pharmaceutical Services in the 2nd quarter valued at about $200,813,000. ProShare Advisors LLC lifted its position in shares of West Pharmaceutical Services by 46.8% during the 2nd quarter. ProShare Advisors LLC now owns 738,368 shares of the medical instruments supplier’s stock worth $161,555,000 after buying an additional 235,272 shares in the last quarter. Amundi lifted its position in shares of West Pharmaceutical Services by 83.4% during the 2nd quarter. Amundi now owns 502,831 shares of the medical instruments supplier’s stock worth $111,236,000 after buying an additional 228,696 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of West Pharmaceutical Services in the 2nd quarter worth approximately $30,592,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays increased their price target on West Pharmaceutical Services from $275.00 to $325.00 and gave the company an “equal weight” rating in a research report on Monday, October 27th. Zacks Research upgraded West Pharmaceutical Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft set a $345.00 price target on shares of West Pharmaceutical Services and gave the stock a “buy” rating in a report on Friday, October 24th. TD Cowen initiated coverage on shares of West Pharmaceutical Services in a report on Wednesday, October 29th. They set a “buy” rating for the company. Finally, UBS Group lifted their price objective on shares of West Pharmaceutical Services from $320.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $335.78.

West Pharmaceutical Services Price Performance

West Pharmaceutical Services stock opened at $240.50 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.87 and a quick ratio of 2.18. West Pharmaceutical Services, Inc. has a one year low of $187.43 and a one year high of $348.90. The firm has a market capitalization of $17.30 billion, a P/E ratio of 35.63, a PEG ratio of 3.32 and a beta of 1.17. The business has a fifty day moving average price of $269.92 and a 200-day moving average price of $261.29.

West Pharmaceutical Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 28th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, January 28th. West Pharmaceutical Services’s dividend payout ratio is presently 13.04%.

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.