Royal Bank of Canada Reduces Position in West Pharmaceutical Services, Inc. (WST)
Royal Bank of Canada lowered its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 828,785 shares of the medical instruments supplier’s stock after selling 63,601 shares during the period. Royal Bank of Canada owned approximately 1.12% of West Pharmaceutical Services worth $78,337,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in WST. BlackRock Inc. grew its position in West Pharmaceutical Services by 8,884.7% during the 1st quarter. BlackRock Inc. now owns 5,805,036 shares of the medical instruments supplier’s stock valued at $473,749,000 after purchasing an additional 5,740,426 shares during the last quarter. Riverbridge Partners LLC bought a new position in shares of West Pharmaceutical Services in the second quarter worth approximately $48,340,000. Vanguard Group Inc. lifted its stake in shares of West Pharmaceutical Services by 6.5% in the first quarter. Vanguard Group Inc. now owns 6,440,844 shares of the medical instruments supplier’s stock worth $525,637,000 after buying an additional 392,516 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of West Pharmaceutical Services by 7,670.7% during the second quarter. Renaissance Technologies LLC now owns 318,600 shares of the medical instruments supplier’s stock valued at $30,114,000 after buying an additional 314,500 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of West Pharmaceutical Services by 198.9% during the second quarter. FMR LLC now owns 388,625 shares of the medical instruments supplier’s stock valued at $36,733,000 after buying an additional 258,611 shares during the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.
Shares of West Pharmaceutical Services, Inc. (WST) traded down 0.66% during midday trading on Wednesday, reaching $94.00. 35,483 shares of the company traded hands. West Pharmaceutical Services, Inc. has a 1-year low of $70.17 and a 1-year high of $99.91. The company has a market capitalization of $6.96 billion, a PE ratio of 40.34 and a beta of 1.12. The company has a 50 day moving average price of $90.36 and a 200 day moving average price of $90.56.
West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $397.60 million during the quarter, compared to analysts’ expectations of $406.00 million. West Pharmaceutical Services had a return on equity of 14.02% and a net margin of 11.42%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. On average, analysts expect that West Pharmaceutical Services, Inc. will post $2.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 0.59%. West Pharmaceutical Services’s dividend payout ratio (DPR) is 22.22%.
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WST has been the subject of a number of recent analyst reports. Stephens assumed coverage on shares of West Pharmaceutical Services in a report on Tuesday. They issued an “equal weight” rating and a $99.00 price objective for the company. Zacks Investment Research upgraded West Pharmaceutical Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Jefferies Group LLC upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $96.00 to $115.00 in a research note on Friday, September 15th. Finally, BidaskClub downgraded West Pharmaceutical Services from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. West Pharmaceutical Services has a consensus rating of “Hold” and a consensus target price of $107.33.
West Pharmaceutical Services Company Profile
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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