Municipal Employees Retirement System of Michigan reduced its position in West Pharmaceutical Services, Inc. (NYSE:WST) by 16.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 28,390 shares of the medical instruments supplier’s stock after selling 5,520 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in West Pharmaceutical Services were worth $2,683,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in West Pharmaceutical Services by 8,884.7% in the first quarter. BlackRock Inc. now owns 5,805,036 shares of the medical instruments supplier’s stock worth $473,749,000 after buying an additional 5,740,426 shares in the last quarter. Riverbridge Partners LLC acquired a new position in West Pharmaceutical Services during the second quarter worth about $48,340,000. Vanguard Group Inc. raised its position in West Pharmaceutical Services by 6.5% in the first quarter. Vanguard Group Inc. now owns 6,440,844 shares of the medical instruments supplier’s stock worth $525,637,000 after buying an additional 392,516 shares in the last quarter. Wells Fargo & Company MN raised its position in West Pharmaceutical Services by 88.9% in the first quarter. Wells Fargo & Company MN now owns 559,229 shares of the medical instruments supplier’s stock worth $45,640,000 after buying an additional 263,171 shares in the last quarter. Finally, AMI Asset Management Corp raised its position in West Pharmaceutical Services by 963.0% in the second quarter. AMI Asset Management Corp now owns 248,534 shares of the medical instruments supplier’s stock worth $23,491,000 after buying an additional 225,154 shares in the last quarter. Institutional investors own 90.51% of the company’s stock.
Shares of West Pharmaceutical Services, Inc. (NYSE WST) opened at 85.15 on Friday. West Pharmaceutical Services, Inc. has a 1-year low of $70.17 and a 1-year high of $99.91. The firm has a market cap of $6.30 billion, a PE ratio of 36.55 and a beta of 1.10. The company has a 50-day moving average of $90.44 and a 200-day moving average of $88.85.
West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $397.60 million for the quarter, compared to analyst estimates of $406 million. West Pharmaceutical Services had a return on equity of 14.02% and a net margin of 11.42%. West Pharmaceutical Services’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. Analysts predict that West Pharmaceutical Services, Inc. will post $2.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, October 17th. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 0.66%. West Pharmaceutical Services’s dividend payout ratio is 22.22%.
A number of equities analysts have issued reports on WST shares. Zacks Investment Research raised shares of West Pharmaceutical Services from a “sell” rating to a “hold” rating in a research report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $90.00 target price (up from $82.00) on shares of West Pharmaceutical Services in a report on Friday, April 28th. Finally, BidaskClub lowered shares of West Pharmaceutical Services from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $90.18.
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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