Bessemer Group Inc. raised its position in West Pharmaceutical Services, Inc. (NYSE:WST) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,510 shares of the medical instruments supplier’s stock after purchasing an additional 578 shares during the period. Bessemer Group Inc.’s holdings in West Pharmaceutical Services were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Riverbridge Partners LLC purchased a new position in shares of West Pharmaceutical Services in the 2nd quarter valued at $48,340,000. BlackRock Inc. boosted its stake in West Pharmaceutical Services by 7.1% during the 2nd quarter. BlackRock Inc. now owns 6,217,894 shares of the medical instruments supplier’s stock worth $587,715,000 after purchasing an additional 412,858 shares during the period. Koch Industries Inc. lifted its stake in shares of West Pharmaceutical Services by 14,908.3% in the 2nd quarter. Koch Industries Inc. now owns 413,028 shares of the medical instruments supplier’s stock worth $409,000 after acquiring an additional 410,276 shares during the period. Renaissance Technologies LLC lifted its stake in shares of West Pharmaceutical Services by 7,670.7% in the 2nd quarter. Renaissance Technologies LLC now owns 318,600 shares of the medical instruments supplier’s stock worth $30,114,000 after acquiring an additional 314,500 shares during the period. Finally, FMR LLC lifted its stake in shares of West Pharmaceutical Services by 198.9% in the 2nd quarter. FMR LLC now owns 388,625 shares of the medical instruments supplier’s stock worth $36,733,000 after acquiring an additional 258,611 shares during the period. 91.02% of the stock is currently owned by institutional investors.
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West Pharmaceutical Services (NYSE:WST) last posted its quarterly earnings data on Thursday, October 26th. The medical instruments supplier reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.14. The business had revenue of $398.20 million during the quarter, compared to the consensus estimate of $386.02 million. West Pharmaceutical Services had a net margin of 12.12% and a return on equity of 14.47%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. sell-side analysts expect that West Pharmaceutical Services, Inc. will post 2.76 EPS for the current year.
A number of equities analysts have recently issued reports on WST shares. Zacks Investment Research downgraded shares of West Pharmaceutical Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Jefferies Group LLC upgraded shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $96.00 to $115.00 in a report on Friday, September 15th. BidaskClub cut shares of West Pharmaceutical Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Bank of America Corporation cut shares of West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 target price on the stock. in a research report on Tuesday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. West Pharmaceutical Services currently has a consensus rating of “Hold” and a consensus price target of $106.00.
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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