Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,767 shares of the medical instruments supplier’s stock, valued at approximately $726,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new position in shares of West Pharmaceutical Services in the 2nd quarter valued at $25,000. Vermillion & White Wealth Management Group LLC increased its holdings in West Pharmaceutical Services by 193.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 144 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 95 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in West Pharmaceutical Services by 1,842.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 129 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of West Pharmaceutical Services in the third quarter worth approximately $47,000. Finally, MUFG Securities EMEA plc bought a new position in shares of West Pharmaceutical Services in the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 93.90% of the company’s stock.
West Pharmaceutical Services Stock Up 2.0%
West Pharmaceutical Services stock opened at $235.66 on Friday. The stock has a market capitalization of $16.97 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 2.46 and a beta of 1.17. The business has a fifty day moving average price of $249.85 and a 200-day moving average price of $261.73. West Pharmaceutical Services, Inc. has a 1-year low of $187.43 and a 1-year high of $322.34. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.02 and a quick ratio of 2.34.
West Pharmaceutical Services declared that its board has initiated a stock buyback program on Tuesday, February 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical instruments supplier to buy up to 5.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
West Pharmaceutical Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Wednesday, April 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $0.88 annualized dividend and a yield of 0.4%. West Pharmaceutical Services’s dividend payout ratio is presently 12.96%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. Evercore cut their price target on West Pharmaceutical Services from $390.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. UBS Group reiterated a “buy” rating and set a $340.00 price target on shares of West Pharmaceutical Services in a research report on Friday, February 13th. Jefferies Financial Group restated a “buy” rating and issued a $295.00 price objective on shares of West Pharmaceutical Services in a report on Tuesday, February 10th. Wall Street Zen upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Finally, Barclays decreased their target price on West Pharmaceutical Services from $325.00 to $265.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $314.56.
Read Our Latest Research Report on WST
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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