Champlain Investment Partners LLC lifted its position in West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 458,920 shares of the medical instruments supplier’s stock after acquiring an additional 11,245 shares during the period. Champlain Investment Partners LLC’s holdings in West Pharmaceutical Services were worth $120,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WST. Empowered Funds LLC raised its stake in shares of West Pharmaceutical Services by 16.1% in the first quarter. Empowered Funds LLC now owns 1,611 shares of the medical instruments supplier’s stock worth $361,000 after purchasing an additional 224 shares during the last quarter. Intech Investment Management LLC increased its holdings in West Pharmaceutical Services by 27.7% in 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 raised its position in 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 last quarter. Teacher Retirement System of Texas lifted its stake in West Pharmaceutical Services by 3.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,981 shares of the medical instruments supplier’s stock valued at $2,403,000 after acquiring an additional 392 shares during the period. Finally, World Investment Advisors purchased a new stake in shares of West Pharmaceutical Services in the 2nd quarter valued at $347,000. Institutional investors and hedge funds own 93.90% of the company’s stock.
West Pharmaceutical Services Price Performance
NYSE:WST opened at $251.26 on Tuesday. The company has a quick ratio of 2.34, a current ratio of 3.02 and a debt-to-equity ratio of 0.06. West Pharmaceutical Services, Inc. has a 52 week low of $187.43 and a 52 week high of $322.34. The stock’s 50-day moving average price is $256.01 and its 200-day moving average price is $262.19. The stock has a market capitalization of $18.10 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18.
West Pharmaceutical Services announced that its board has initiated a stock buyback program on Tuesday, February 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical instruments supplier to repurchase up to 5.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
West Pharmaceutical Services Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Wednesday, April 29th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, April 29th. West Pharmaceutical Services’s payout ratio is presently 12.96%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on WST shares. Barclays reduced their target price on shares of West Pharmaceutical Services from $325.00 to $265.00 and set an “equal weight” rating for the company in a report on Friday, February 13th. Morgan Stanley initiated coverage on West Pharmaceutical Services in a report on Monday, December 1st. They issued an “equal weight” rating and a $285.00 price objective for the company. UBS Group restated a “buy” rating and issued a $340.00 target price on shares of West Pharmaceutical Services in a research note on Friday, February 13th. Jefferies Financial Group reiterated a “buy” rating and set a $295.00 price target on shares of West Pharmaceutical Services in a research report on Tuesday, February 10th. Finally, Wall Street Zen raised West Pharmaceutical Services from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, West Pharmaceutical Services presently has an average rating of “Buy” and an average price target of $314.56.
View Our Latest Stock Report on WST
About West Pharmaceutical Services
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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