Tompkins Financial Corp Sells 96 Shares of West Pharmaceutical Services Inc. (NYSE:WST)
Tompkins Financial Corp trimmed its position in shares of West Pharmaceutical Services Inc. (NYSE:WST) by 25.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 288 shares of the medical instruments supplier’s stock after selling 96 shares during the period. Tompkins Financial Corp’s holdings in West Pharmaceutical Services were worth $65,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. M&T Bank Corp raised its position in West Pharmaceutical Services by 8.1% in the 2nd quarter. M&T Bank Corp now owns 62,167 shares of the medical instruments supplier’s stock worth $14,122,000 after purchasing an additional 4,667 shares during the period. Pacer Advisors Inc. increased its stake in shares of West Pharmaceutical Services by 11,311.7% in the second quarter. Pacer Advisors Inc. now owns 8,787 shares of the medical instruments supplier’s stock worth $1,996,000 after buying an additional 8,710 shares during the period. Shine Investment Advisory Services Inc. raised its holdings in West Pharmaceutical Services by 24.6% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 208 shares of the medical instruments supplier’s stock valued at $47,000 after buying an additional 41 shares during the last quarter. Cornerstone Advisors Inc. raised its stake in shares of West Pharmaceutical Services by 65.2% during the second quarter. Cornerstone Advisors Inc. now owns 309 shares of the medical instruments supplier’s stock valued at $70,000 after acquiring an additional 122 shares during the last quarter. Finally, Pitcairn Co. purchased a new stake in West Pharmaceutical Services in the 2nd quarter worth approximately $204,000. 90.59% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP David A. Montecalvo sold 14,508 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $264.82, for a total value of $3,842,008.56. Following the transaction, the senior vice president now owns 15,732 shares of the company’s stock, valued at $4,166,148.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.
West Pharmaceutical Services (NYSE:WST) last posted its earnings results on Thursday, July 23rd. The medical instruments supplier reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.34. The business had revenue of $527.20 million during the quarter, compared to the consensus estimate of $496.09 million. West Pharmaceutical Services had a net margin of 14.69% and a return on equity of 19.01%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. As a group, analysts expect that West Pharmaceutical Services Inc. will post 4.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Tuesday, July 28th. West Pharmaceutical Services’s payout ratio is 19.75%.
Several research analysts recently issued reports on WST shares. Bank of America upgraded shares of West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 price target for the company in a research note on Tuesday, July 21st. Zacks Investment Research restated a “buy” rating and set a $219.00 price target on shares of West Pharmaceutical Services in a report on Sunday, May 3rd. Finally, BofA Securities upgraded shares of West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Tuesday, July 21st.
West Pharmaceutical Services 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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