Congress Asset Management Co. MA Cuts Stake in West Pharmaceutical Services, Inc. (NYSE:WST)

Congress Asset Management Co. MA cut its stake in West Pharmaceutical Services, Inc. (NYSE:WST) by 3.8% during the 4th quarter, HoldingsChannel reports. The firm owned 328,440 shares of the medical instruments supplier’s stock after selling 12,799 shares during the quarter. Congress Asset Management Co. MA’s holdings in West Pharmaceutical Services were worth $115,650,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Franklin Resources Inc. increased its position in shares of West Pharmaceutical Services by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 2,105,589 shares of the medical instruments supplier’s stock worth $741,420,000 after acquiring an additional 28,010 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of West Pharmaceutical Services by 23.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,961,063 shares of the medical instruments supplier’s stock worth $690,530,000 after acquiring an additional 369,792 shares during the last quarter. Brown Advisory Inc. increased its position in shares of West Pharmaceutical Services by 8.4% during the fourth quarter. Brown Advisory Inc. now owns 1,414,431 shares of the medical instruments supplier’s stock worth $498,049,000 after acquiring an additional 109,369 shares during the last quarter. Norges Bank purchased a new stake in shares of West Pharmaceutical Services during the fourth quarter worth about $300,250,000. Finally, Northern Trust Corp increased its position in shares of West Pharmaceutical Services by 4.4% during the third quarter. Northern Trust Corp now owns 806,103 shares of the medical instruments supplier’s stock worth $302,458,000 after acquiring an additional 33,867 shares during the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

West Pharmaceutical Services Stock Down 0.9 %

NYSE:WST traded down $3.04 during mid-day trading on Friday, reaching $333.25. The stock had a trading volume of 374,564 shares, compared to its average volume of 504,204. The company has a market capitalization of $24.27 billion, a price-to-earnings ratio of 43.96, a price-to-earnings-growth ratio of 5.94 and a beta of 1.01. West Pharmaceutical Services, Inc. has a 1-year low of $310.42 and a 1-year high of $415.73. The stock’s 50 day simple moving average is $353.78 and its two-hundred day simple moving average is $361.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.95.

West Pharmaceutical Services (NYSE:WST) last posted its quarterly earnings results on Thursday, April 25th. The medical instruments supplier reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.27. West Pharmaceutical Services had a return on equity of 20.57% and a net margin of 19.42%. The business had revenue of $695.40 million during the quarter, compared to the consensus estimate of $670.62 million. During the same period last year, the firm earned $1.98 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities analysts anticipate that West Pharmaceutical Services, Inc. will post 7.76 EPS for the current year.

West Pharmaceutical Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 31st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.80 dividend on an annualized basis and a yield of 0.24%. West Pharmaceutical Services’s dividend payout ratio is currently 10.55%.

Insider Buying and Selling

In related news, CEO Eric Mark Green sold 66,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $366.65, for a total value of $24,198,900.00. Following the sale, the chief executive officer now owns 152,908 shares of the company’s stock, valued at approximately $56,063,718.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other West Pharmaceutical Services news, SVP Silji Abraham sold 1,800 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $330.78, for a total transaction of $595,404.00. Following the completion of the transaction, the senior vice president now owns 2,860 shares in the company, valued at approximately $946,030.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric Mark Green sold 66,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $366.65, for a total value of $24,198,900.00. Following the transaction, the chief executive officer now owns 152,908 shares of the company’s stock, valued at approximately $56,063,718.20. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WST shares. UBS Group dropped their target price on West Pharmaceutical Services from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. StockNews.com downgraded West Pharmaceutical Services from a “buy” rating to a “hold” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, West Pharmaceutical Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.20.

West Pharmaceutical Services 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.