New York State Common Retirement Fund Cuts Holdings in West Pharmaceutical Services, Inc. (NYSE:WST)

New York State Common Retirement Fund decreased its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,500 shares of the medical instruments supplier’s stock after selling 13,300 shares during the quarter. New York State Common Retirement Fund’s holdings in West Pharmaceutical Services were worth $33,954,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Fiera Capital Corp increased its holdings in West Pharmaceutical Services by 8.8% during the 1st quarter. Fiera Capital Corp now owns 3,700 shares of the medical instruments supplier’s stock worth $1,043,000 after purchasing an additional 300 shares during the period. Princeton Global Asset Management LLC increased its holdings in West Pharmaceutical Services by 6.9% during the 1st quarter. Princeton Global Asset Management LLC now owns 3,500 shares of the medical instruments supplier’s stock worth $986,000 after purchasing an additional 225 shares during the period. Berman Capital Advisors LLC increased its holdings in West Pharmaceutical Services by 31.1% during the 1st quarter. Berman Capital Advisors LLC now owns 409 shares of the medical instruments supplier’s stock worth $115,000 after purchasing an additional 97 shares during the period. Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in West Pharmaceutical Services during the 1st quarter worth about $757,000. Finally, GW&K Investment Management LLC increased its holdings in West Pharmaceutical Services by 112.9% during the 1st quarter. GW&K Investment Management LLC now owns 2,534 shares of the medical instruments supplier’s stock worth $714,000 after purchasing an additional 1,344 shares during the period. Institutional investors own 92.12% of the company’s stock.

Separately, Zacks Investment Research upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $355.00 price target on the stock in a report on Wednesday, April 21st.

WST opened at $343.78 on Friday. West Pharmaceutical Services, Inc. has a one year low of $197.72 and a one year high of $349.29. The stock has a market cap of $25.38 billion, a P/E ratio of 61.61, a P/E/G ratio of 2.09 and a beta of 0.99. The company has a current ratio of 2.75, a quick ratio of 2.11 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $324.12.

West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings data on Thursday, April 29th. The medical instruments supplier reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.63. West Pharmaceutical Services had a return on equity of 25.08% and a net margin of 18.19%. The business had revenue of $670.70 million for the quarter, compared to the consensus estimate of $614.77 million. Analysts forecast that West Pharmaceutical Services, Inc. will post 7.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 4th. Stockholders of record on Wednesday, July 21st will be issued a $0.17 dividend. The ex-dividend date is Tuesday, July 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.20%. West Pharmaceutical Services’s payout ratio is currently 14.29%.

In related news, insider Silji Abraham sold 2,171 shares of the company’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $335.00, for a total value of $727,285.00. Following the completion of the sale, the insider now directly owns 6,077 shares of the company’s stock, valued at approximately $2,035,795. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

West Pharmaceutical Services Profile

West Pharmaceutical Services, Inc designs and produces containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers stoppers and seals for injectable packaging systems; syringe and cartridge components, including custom solutions for the needs of injectable drug applications, as well as administration systems that enhance the safe delivery of drugs through advanced reconstitution, mixing, and transfer technologies; and films, coatings, washing, and vision inspection and sterilization processes and services to enhance the quality of packaging components.

Further Reading: Gross Domestic Product (GDP)

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

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