Retirement Systems of Alabama Sells 246 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

Retirement Systems of Alabama trimmed its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,823 shares of the medical instruments supplier’s stock after selling 246 shares during the period. Retirement Systems of Alabama’s holdings in West Pharmaceutical Services were worth $4,749,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of West Pharmaceutical Services by 199.4% in the third quarter. FMR LLC now owns 595,775 shares of the medical instruments supplier’s stock worth $178,828,000 after purchasing an additional 396,780 shares in the last quarter. LGT Group Foundation acquired a new stake in West Pharmaceutical Services in the 2nd quarter valued at $68,854,000. Liontrust Investment Partners LLP bought a new stake in West Pharmaceutical Services during the 2nd quarter worth about $64,196,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of West Pharmaceutical Services by 21.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 683,350 shares of the medical instruments supplier’s stock worth $205,114,000 after buying an additional 122,361 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of West Pharmaceutical Services by 29.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 444,000 shares of the medical instruments supplier’s stock valued at $133,271,000 after acquiring an additional 101,710 shares in the last quarter. 93.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Charles Witherspoon sold 703 shares of West Pharmaceutical Services stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $310.40, for a total transaction of $218,211.20. Following the completion of the sale, the vice president now owns 1,253 shares of the company’s stock, valued at approximately $388,931.20. This trade represents a 35.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

WST has been the topic of several analyst reports. UBS Group upgraded West Pharmaceutical Services from a “neutral” rating to a “buy” rating and upped their target price for the stock from $350.00 to $390.00 in a report on Thursday, December 12th. Bank of America increased their price objective on West Pharmaceutical Services from $350.00 to $355.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Wolfe Research began coverage on shares of West Pharmaceutical Services in a report on Friday, December 13th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $437.75.

West Pharmaceutical Services Price Performance

NYSE:WST opened at $327.01 on Friday. The company has a quick ratio of 2.23, a current ratio of 3.00 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a 12-month low of $265.00 and a 12-month high of $413.70. The stock’s 50 day moving average price is $316.00 and its two-hundred day moving average price is $311.88. The firm has a market capitalization of $23.68 billion, a price-to-earnings ratio of 48.52, a P/E/G ratio of 25.04 and a beta of 1.01.

West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.35. The business had revenue of $746.90 million during the quarter, compared to the consensus estimate of $709.62 million. West Pharmaceutical Services had a return on equity of 18.41% and a net margin of 17.37%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. On average, analysts anticipate that West Pharmaceutical Services, Inc. will post 6.64 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th were issued a $0.21 dividend. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.26%. The ex-dividend date was Wednesday, November 13th. West Pharmaceutical Services’s dividend payout ratio is currently 12.46%.

West Pharmaceutical Services Company Profile

West Pharmaceutical Services, Inc designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products.