Commonwealth Equity Services LLC reduced its position in shares of West Pharmaceutical Services, Inc. (New York Stock Exchange: WST – Get a rating) by 34.4% in the first quarter, according to its most recent 13F filing with the SEC. The company held 9,565 shares of the medical device supplier’s stock after selling 5,015 shares during the quarter. Commonwealth Equity Services LLC’s holdings in West Pharmaceutical Services were worth $3,928,000 when it last filed with the SEC.
A number of other institutional investors also changed their stake in the company. Kentucky Retirement Systems increased its holdings of West Pharmaceutical Services shares by 0.6% in the fourth quarter. Kentucky Retirement Systems now owns 4,385 shares of the medical device supplier worth $2,057,000 after buying 25 additional shares during the period. Synovus Financial Corp increased its holdings of West Pharmaceutical Services shares by 1.9% during the fourth quarter. Synovus Financial Corp now owns 1,495 shares of the medical device supplier worth $695,000 after buying 28 additional shares during the period. American National Bank increased its equity stake in West Pharmaceutical Services by 55.6% in the first quarter. American National Bank now owns 98 shares of the medical device supplier worth $40,000 after buying 35 more shares during the period. SG Americas Securities LLC increased its stake in shares of West Pharmaceutical Services by 0.6% during the 4th quarter. SG Americas Securities LLC now owns 6,077 shares of the medical device supplier worth $2,850,000 after purchasing 39 additional shares during the period. Finally, Allworth Financial LP increased its equity stake in West Pharmaceutical Services by 140.0% during the first quarter. Allworth Financial LP now owns 72 shares of the medical device supplier worth $30,000 after buying 42 additional shares during the period. Hedge funds and other institutional investors hold 93.25% of the company’s shares.
Insider Buying and Selling at West Pharmaceutical Services
In other West Pharmaceutical Services news, an insider Silji Abraham sold 5,374 shares of the company in a transaction that took place on Monday, August 1. The stock was sold at an average price of $343.93, for a total value of $1,848,279.82. Following the transaction, the insider now directly owns 3,201 shares of the company, valued at approximately $1,100,919.93. The sale was disclosed in a filing with the SEC, accessible via the SEC website. 0.60% of the shares are currently held by insiders.
Analysts set new price targets
Separately, StockNews.com upgraded West Pharmaceutical Services from a “buy” rating to a “hold” rating in a Thursday, April 28, report.
Western pharmaceutical services stock up 0.4%
NYSE WST opened at $341.70 on Friday. The stock has a market capitalization of $25.30 billion, a PE ratio of 37.92, a P/E/G ratio of 1.39 and a beta of 1.15. West Pharmaceutical Services, Inc. has a fifty-two-week low of $275.89 and a fifty-two-week high of $475.35. The company has a 50-day moving average price of $308.62 and a two-hundred-day moving average price of $347.61. The company has a quick ratio of 2.41, a current ratio of 3.13 and a debt ratio of 0.09.
Western Pharmaceutical Services (New York Stock Exchange: WST – Get a rating) last released its quarterly results on Thursday, July 28. The medical device supplier reported earnings per share of $2.47 for the quarter, beating analysts’ consensus estimate of $2.19 by $0.28. West Pharmaceutical Services achieved a return on equity of 29.08% and a net margin of 23.41%. The company posted revenue of $771.30 million in the quarter, compared to $754.25 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $2.46. West Pharmaceutical Services quarterly revenue increased 6.6% compared to the same quarter last year. As a group, sell-side analysts expect West Pharmaceutical Services, Inc. to post 9.1 EPS for the current fiscal year.
About West Pharmaceutical Services
West Pharmaceutical Services, Inc. designs, manufactures and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, Middle East, Africa and Asia-Pacific. It operates in two segments, Proprietary Products and Contract Manufactured Products.
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