Los Angeles Capital Management LLC boosted its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 16.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,911 shares of the medical instruments supplier’s stock after acquiring an additional 5,970 shares during the period. Los Angeles Capital Management LLC owned 0.06% of West Pharmaceutical Services worth $11,952,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in WST. Empowered Funds LLC increased its stake in West Pharmaceutical Services by 16.1% during the 1st quarter. Empowered Funds LLC now owns 1,611 shares of the medical instruments supplier’s stock worth $361,000 after acquiring an additional 224 shares during the period. Intech Investment Management LLC grew its stake in West Pharmaceutical Services by 27.7% during the first 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 in the last quarter. Acadian Asset Management LLC grew its stake in West Pharmaceutical Services by 14.1% during the first 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in West Pharmaceutical Services by 78.2% during the second quarter. EverSource Wealth Advisors LLC now owns 449 shares of the medical instruments supplier’s stock worth $98,000 after buying an additional 197 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in West Pharmaceutical Services by 168.4% during the second quarter. First Trust Advisors LP now owns 46,332 shares of the medical instruments supplier’s stock worth $10,137,000 after buying an additional 29,067 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.
West Pharmaceutical Services Trading Up 0.0%
Shares of WST opened at $314.64 on Monday. West Pharmaceutical Services, Inc. has a 52-week low of $206.80 and a 52-week high of $330.88. The business’s fifty day moving average is $290.87 and its 200-day moving average is $269.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.04 and a current ratio of 2.71. The firm has a market cap of $22.23 billion, a price-to-earnings ratio of 42.06, a PEG ratio of 2.63 and a beta of 1.18.
West Pharmaceutical Services announced that its board has authorized a stock buyback plan on Tuesday, February 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical instruments supplier to reacquire up to 5.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at West Pharmaceutical Services
In other news, VP Annette F. Favorite sold 2,817 shares of West Pharmaceutical Services stock in a transaction on Monday, April 27th. The stock was sold at an average price of $305.20, for a total value of $859,748.40. Following the transaction, the vice president owned 16,828 shares in the company, valued at approximately $5,135,905.60. This trade represents a 14.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Chad Winters sold 896 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $300.67, for a total value of $269,400.32. Following the sale, the chief accounting officer directly owned 1,523 shares in the company, valued at approximately $457,920.41. This trade represents a 37.04% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on WST. UBS Group reiterated a “buy” rating and set a $340.00 price objective on shares of West Pharmaceutical Services in a research note on Friday, February 13th. Citigroup reiterated a “buy” rating on shares of West Pharmaceutical Services in a research note on Friday, April 24th. Morgan Stanley increased their price objective on shares of West Pharmaceutical Services from $315.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Stephens reiterated an “overweight” rating and set a $360.00 price objective on shares of West Pharmaceutical Services in a research note on Tuesday, June 2nd. Finally, Wolfe Research started coverage on West Pharmaceutical Services in a research note on Monday, June 1st. They issued an “outperform” rating and a $375.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, West Pharmaceutical Services has a consensus rating of “Moderate Buy” and an average target price of $331.91.
Check Out Our Latest Research Report on WST
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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