4,592 West Pharmaceutical Services, Inc. $WST Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its holdings in West Pharmaceutical Services, Inc. (NYSE:WST) by 33.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,076 shares of the medical instruments supplier’s stock after selling 4,592 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in West Pharmaceutical Services were worth $3,365,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WST. Evergreen Capital Management LLC raised its stake in West Pharmaceutical Services by 2.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 1,131 shares of the medical instruments supplier’s stock valued at $419,000 after acquiring an additional 28 shares during the last quarter. Greenleaf Trust raised its holdings in West Pharmaceutical Services by 4.1% during the second quarter. Greenleaf Trust now owns 843 shares of the medical instruments supplier’s stock worth $303,000 after purchasing an additional 33 shares in the last quarter. Wealth Alliance LLC lifted its position in West Pharmaceutical Services by 3.8% in the first quarter. Wealth Alliance LLC now owns 945 shares of the medical instruments supplier’s stock valued at $237,000 after purchasing an additional 35 shares during the period. 55 North Private Wealth LLC boosted its holdings in West Pharmaceutical Services by 5.4% in the 3rd quarter. 55 North Private Wealth LLC now owns 708 shares of the medical instruments supplier’s stock valued at $262,000 after purchasing an additional 36 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of West Pharmaceutical Services by 4.1% during the 3rd quarter. D.A. Davidson & CO. now owns 909 shares of the medical instruments supplier’s stock worth $337,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

West Pharmaceutical Services Stock Down 0.0%

Shares of NYSE WST opened at $399.62 on Monday. The firm has a market cap of $27.84 billion, a price-to-earnings ratio of 44.85, a PEG ratio of 2.43 and a beta of 1.13. West Pharmaceutical Services, Inc. has a 1 year low of $223.83 and a 1 year high of $438.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.10 and a current ratio of 2.82. The stock’s 50-day simple moving average is $373.06 and its 200-day simple moving average is $316.61.

West Pharmaceutical Services (NYSE:WST) last posted its quarterly earnings data on Thursday, October 29th. The medical instruments supplier reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.46. The company had revenue of $874.50 million for the quarter, compared to the consensus estimate of $827.12 million. West Pharmaceutical Services had a return on equity of 21.78% and a net margin of 18.81%. West Pharmaceutical Services’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. As a group, equities analysts anticipate that West Pharmaceutical Services, Inc. will post 9.46 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Wednesday, November 11th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, November 10th. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.3%. West Pharmaceutical Services’s payout ratio is currently 11.67%.

Analyst Ratings Changes

WST has been the subject of a number of research reports. Evercore reiterated an “outperform” rating and set a $425.00 price target on shares of West Pharmaceutical Services in a research report on Monday, July 27th. TD Cowen increased their target price on West Pharmaceutical Services from $420.00 to $500.00 and gave the company a “buy” rating in a report on Friday, October 30th. Morgan Stanley upgraded shares of West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $365.00 to $400.00 in a report on Tuesday, September 22nd. Wall Street Zen upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating in a report on Sunday, November 1st. Finally, Citigroup increased their price objective on shares of West Pharmaceutical Services from $412.00 to $494.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.67.

Insiders Place Their Bets

In related news, VP Annette Favorite sold 2,524 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $365.00, for a total transaction of $921,260.00. Following the sale, the vice president owned 21,818 shares in the company, valued at $7,963,570. This represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,659 shares of company stock worth $5,443,749 in the last quarter. 0.60% of the stock is owned by corporate insiders.

About West Pharmaceutical Services

West Pharmaceutical Services designs and manufactures packaging components and delivery systems used by the pharmaceutical, biotechnology, and medical device industries. Its products help contain and administer injectable medicines and include elastomeric components, such as stoppers and seals, as well as syringe components and other packaging and delivery solutions.

The company also provides contract manufacturing services for medical devices and pharmaceutical delivery systems. Its customers include companies developing and producing branded, generic, and biologic medicines.

Founded in 1923 by Herman O.