ARP Americas LP purchased a new stake in West Pharmaceutical Services Inc. (NYSE:WST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,900 shares of the medical instruments supplier’s stock, valued at approximately $432,000.
A number of other hedge funds also recently made changes to their positions in WST. FMR LLC boosted its stake in West Pharmaceutical Services by 41.3% in the 1st quarter. FMR LLC now owns 794 shares of the medical instruments supplier’s stock valued at $88,000 after buying an additional 232 shares in the last quarter. Guggenheim Capital LLC boosted its stake in West Pharmaceutical Services by 47.6% in the 4th quarter. Guggenheim Capital LLC now owns 4,865 shares of the medical instruments supplier’s stock valued at $731,000 after buying an additional 1,569 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in West Pharmaceutical Services by 16.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,620 shares of the medical instruments supplier’s stock valued at $976,000 after purchasing an additional 926 shares during the last quarter. Verus Capital Partners LLC bought a new position in West Pharmaceutical Services in the 4th quarter valued at $39,000. Finally, Macquarie Group Ltd. raised its position in West Pharmaceutical Services by 7.2% in the 4th quarter. Macquarie Group Ltd. now owns 56,763 shares of the medical instruments supplier’s stock valued at $8,533,000 after purchasing an additional 3,791 shares during the last quarter. 90.59% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on WST. BofA Securities upgraded West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a research report on Tuesday, July 21st. Zacks Investment Research reiterated a “buy” rating and issued a $219.00 price objective on shares of West Pharmaceutical Services in a research report on Sunday, May 3rd. Finally, Bank of America upgraded West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a research report on Tuesday, July 21st.
Shares of WST stock traded down $0.09 on Friday, reaching $268.87. 603,081 shares of the stock were exchanged, compared to its average volume of 490,724. The stock has a market cap of $19.85 billion, a PE ratio of 70.94, a P/E/G ratio of 3.63 and a beta of 1.13. West Pharmaceutical Services Inc. has a one year low of $124.53 and a one year high of $273.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.96 and a quick ratio of 2.11. The stock has a 50 day moving average price of $229.94 and a 200 day moving average price of $185.69.
West Pharmaceutical Services (NYSE:WST) last released its earnings results on Thursday, July 23rd. The medical instruments supplier reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.34. The company had revenue of $527.20 million during the quarter, compared to the consensus estimate of $496.09 million. West Pharmaceutical Services had a return on equity of 19.01% and a net margin of 14.69%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, research analysts expect that West Pharmaceutical Services Inc. will post 4.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.24%. West Pharmaceutical Services’s payout ratio is currently 19.75%.
In related news, SVP David A. Montecalvo sold 14,508 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $264.82, for a total value of $3,842,008.56. Following the completion of the sale, the senior vice president now owns 15,732 shares in the company, valued at $4,166,148.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.
About West Pharmaceutical Services
West Pharmaceutical Services, Inc manufactures and sells containment and delivery systems for injectable drugs and healthcare products in the United States, Germany, France, Other European countries, South Korea, and internationally. The company operates through two segments, Proprietary Products and Contract-Manufactured Products.
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