Suntrust Banks Inc. lifted its holdings in West Pharmaceutical Services Inc. (NYSE:WST) by 6.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,257 shares of the medical instruments supplier’s stock after purchasing an additional 2,483 shares during the period. Suntrust Banks Inc.’s holdings in West Pharmaceutical Services were worth $3,464,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Captrust Financial Advisors bought a new position in shares of West Pharmaceutical Services in the 4th quarter worth approximately $125,000. Toronto Dominion Bank increased its holdings in West Pharmaceutical Services by 815.7% in the 1st quarter. Toronto Dominion Bank now owns 1,923 shares of the medical instruments supplier’s stock worth $170,000 after acquiring an additional 1,713 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in West Pharmaceutical Services by 53.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,994 shares of the medical instruments supplier’s stock worth $176,000 after acquiring an additional 691 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in West Pharmaceutical Services in the 4th quarter worth approximately $211,000. Finally, ETRADE Capital Management LLC purchased a new stake in West Pharmaceutical Services in the 4th quarter worth approximately $341,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.
West Pharmaceutical Services opened at $98.68 on Friday, Marketbeat reports. The company has a market capitalization of $7.31 billion, a P/E ratio of 35.50, a PEG ratio of 3.21 and a beta of 1.11. West Pharmaceutical Services Inc. has a 12-month low of $80.02 and a 12-month high of $103.36. The company has a quick ratio of 2.00, a current ratio of 2.82 and a debt-to-equity ratio of 0.15.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Wednesday, July 18th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Tuesday, July 17th. West Pharmaceutical Services’s dividend payout ratio (DPR) is currently 20.14%.
In other West Pharmaceutical Services news, VP Daniel Malone sold 5,000 shares of the stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $97.24, for a total transaction of $486,200.00. Following the completion of the sale, the vice president now directly owns 34,020 shares of the company’s stock, valued at approximately $3,308,104.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William J. Federici sold 42,869 shares of the stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $96.09, for a total transaction of $4,119,282.21. Following the sale, the chief financial officer now directly owns 270,681 shares of the company’s stock, valued at $26,009,737.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,869 shares of company stock valued at $9,136,762. Insiders own 1.90% of the company’s stock.
Several research firms recently issued reports on WST. Zacks Investment Research raised shares of West Pharmaceutical Services from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. ValuEngine raised shares of West Pharmaceutical Services from a “sell” rating to a “hold” rating in a report on Tuesday, June 12th. Finally, Bank of America lowered shares of West Pharmaceutical Services from a “neutral” rating to an “underperform” rating and set a $85.00 target price for the company. in a report on Wednesday, April 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $106.00.
About West Pharmaceutical Services
West Pharmaceutical Services, Inc manufactures and sells containment and delivery systems for injectable drugs and healthcare products in the United States, Germany, France, Other European countries, and internationally. The company operates through two segments, Proprietary Products and Contract-Manufactured Products.
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