ETRADE Capital Management LLC bought a new stake in shares of West Pharmaceutical Services Inc. (NYSE:WST) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,459 shares of the medical instruments supplier’s stock, valued at approximately $341,000.
Several other large investors have also made changes to their positions in WST. Alliancebernstein L.P. lifted its position in shares of West Pharmaceutical Services by 75.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,042,166 shares of the medical instruments supplier’s stock valued at $201,500,000 after buying an additional 880,636 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of West Pharmaceutical Services during the 3rd quarter valued at approximately $81,059,000. TCW Group Inc. lifted its position in shares of West Pharmaceutical Services by 127.0% during the 4th quarter. TCW Group Inc. now owns 715,727 shares of the medical instruments supplier’s stock valued at $70,621,000 after buying an additional 400,459 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in shares of West Pharmaceutical Services during the 4th quarter valued at approximately $39,036,000. Finally, BlackRock Inc. lifted its position in shares of West Pharmaceutical Services by 5.8% during the 4th quarter. BlackRock Inc. now owns 6,230,224 shares of the medical instruments supplier’s stock valued at $614,734,000 after buying an additional 341,999 shares in the last quarter. Hedge funds and other institutional investors own 94.37% of the company’s stock.
West Pharmaceutical Services Inc. (NYSE WST) opened at $92.07 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 2.66 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $6,809.72, a price-to-earnings ratio of 46.27, a price-to-earnings-growth ratio of 2.28 and a beta of 1.15. West Pharmaceutical Services Inc. has a fifty-two week low of $77.97 and a fifty-two week high of $103.36.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Wednesday, April 18th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, April 17th. This represents a $0.56 dividend on an annualized basis and a yield of 0.61%. West Pharmaceutical Services’s payout ratio is currently 28.14%.
West Pharmaceutical Services declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 15th that permits the company to repurchase 800,000 outstanding shares. This repurchase authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of research analysts have recently issued reports on WST shares. Zacks Investment Research lowered West Pharmaceutical Services from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Goldman Sachs Group started coverage on West Pharmaceutical Services in a research report on Wednesday, January 24th. They set a “neutral” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. West Pharmaceutical Services has an average rating of “Hold” and an average target price of $108.17.
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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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