Everett Harris & Co. CA purchased a new position in shares of West Pharmaceutical Services Inc. (NYSE:WST) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,907 shares of the medical instruments supplier’s stock, valued at approximately $888,000.

A number of other hedge funds have also recently made changes to their positions in WST. Cornerstone Advisors Inc. increased its stake in shares of West Pharmaceutical Services by 466.7% during the 1st quarter. Cornerstone Advisors Inc. now owns 187 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 154 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of West Pharmaceutical Services by 54.9% in the second quarter. Parallel Advisors LLC now owns 127 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 45 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of West Pharmaceutical Services in the first quarter valued at approximately $37,000. Verus Capital Partners LLC bought a new position in shares of West Pharmaceutical Services during the 4th quarter worth approximately $39,000. Finally, Shine Investment Advisory Services Inc. raised its stake in West Pharmaceutical Services by 24.6% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 208 shares of the medical instruments supplier’s stock valued at $47,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 90.59% of the company’s stock.

Shares of West Pharmaceutical Services stock opened at $268.87 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.11 and a current ratio of 2.96. The firm has a 50-day moving average of $229.94 and a 200-day moving average of $185.69. West Pharmaceutical Services Inc. has a 52-week low of $124.53 and a 52-week high of $273.78. The stock has a market cap of $19.86 billion, a PE ratio of 69.50, a PEG ratio of 3.63 and a beta of 1.13.

West Pharmaceutical Services (NYSE:WST) last issued its quarterly earnings data on Thursday, July 23rd. The medical instruments supplier reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.34. West Pharmaceutical Services had a net margin of 14.69% and a return on equity of 19.01%. The business had revenue of $527.20 million during the quarter, compared to analysts’ expectations of $496.09 million. During the same quarter in the previous year, the company earned $0.89 EPS. The business’s revenue was up 12.2% on a year-over-year basis. Equities research analysts predict that West Pharmaceutical Services Inc. will post 4.27 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 29th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.24%. West Pharmaceutical Services’s payout ratio is 19.75%.

In related news, SVP David A. Montecalvo sold 14,508 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $264.82, for a total transaction of $3,842,008.56. Following the sale, the senior vice president now owns 15,732 shares of the company’s stock, valued at $4,166,148.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.

Several research firms have commented on WST. BofA Securities upgraded shares of West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 price objective on the stock in a report on Tuesday, July 21st. Zacks Investment Research restated a “buy” rating and set a $219.00 price objective on shares of West Pharmaceutical Services in a report on Sunday, May 3rd. Finally, Bank of America upgraded West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 target price on the stock in a research note on Tuesday, July 21st.

West Pharmaceutical Services Company Profile

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, South Korea, and internationally. The company operates through two segments, Proprietary Products and Contract-Manufactured Products.

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Institutional Ownership by Quarter for West Pharmaceutical Services (NYSE:WST)

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