Hermes Investment Management Ltd. decreased its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 879,700 shares of the medical instruments supplier’s stock after selling 70,101 shares during the period. West Pharmaceutical Services makes up about 1.4% of Hermes Investment Management Ltd.’s holdings, making the stock its 11th largest position. Hermes Investment Management Ltd. owned 1.20% of West Pharmaceutical Services worth $83,149,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Burt Wealth Advisors increased its stake in shares of West Pharmaceutical Services by 38,540.0% in the first quarter. Burt Wealth Advisors now owns 1,932 shares of the medical instruments supplier’s stock valued at $158,000 after buying an additional 1,927 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in shares of West Pharmaceutical Services during the first quarter valued at $186,000. Tyers Asset Management LLC increased its stake in shares of West Pharmaceutical Services by 17.6% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the medical instruments supplier’s stock valued at $201,000 after buying an additional 368 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of West Pharmaceutical Services by 1.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,569 shares of the medical instruments supplier’s stock valued at $210,000 after buying an additional 40 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of West Pharmaceutical Services during the first quarter valued at $225,000. Hedge funds and other institutional investors own 90.51% of the company’s stock.
Shares of West Pharmaceutical Services, Inc. (NYSE WST) traded down 0.19% during mid-day trading on Friday, hitting $85.15. The company’s stock had a trading volume of 249,608 shares. The company has a 50-day moving average of $90.44 and a 200 day moving average of $88.85. 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 cap of $6.30 billion, a price-to-earnings ratio of 36.55 and a beta of 1.10.
West Pharmaceutical Services (NYSE:WST) last issued its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. West Pharmaceutical Services had a return on equity of 14.02% and a net margin of 11.42%. The company had revenue of $397.60 million during the quarter, compared to analysts’ expectations of $406 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. On average, analysts expect that West Pharmaceutical Services, Inc. will post $2.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Tuesday, October 17th. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.13. West Pharmaceutical Services’s payout ratio is currently 22.22%.
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Several brokerages recently weighed in on WST. Zacks Investment Research upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, June 23rd. BidaskClub downgraded West Pharmaceutical Services from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $90.18.
About West Pharmaceutical Services
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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