Sumitomo Mitsui Trust Group Inc. Sells 8,778 Shares of West Pharmaceutical Services, Inc. $WST

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 5.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 159,302 shares of the medical instruments supplier’s stock after selling 8,778 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in West Pharmaceutical Services were worth $59,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WST. BlackRock Inc. bought a new stake in shares of West Pharmaceutical Services during the 2nd quarter worth approximately $2,387,990,000. State Street Corp boosted its holdings in West Pharmaceutical Services by 1.7% during the 2nd quarter. State Street Corp now owns 3,348,698 shares of the medical instruments supplier’s stock valued at $1,202,183,000 after acquiring an additional 54,920 shares during the period. Bank of New York Mellon Corp bought a new position in West Pharmaceutical Services in the 2nd quarter valued at $733,733,000. Generation Investment Management LLP bought a new position in West Pharmaceutical Services in the 2nd quarter valued at $728,168,000. Finally, Amundi increased its stake in West Pharmaceutical Services by 85.4% in the first quarter. Amundi now owns 644,065 shares of the medical instruments supplier’s stock worth $161,428,000 after purchasing an additional 296,639 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BNP Paribas Exane assumed coverage on West Pharmaceutical Services in a research report on Monday, July 13th. They set an “outperform” rating and a $447.00 target price for the company. Jefferies Financial Group restated a “buy” rating and issued a $475.00 price target on shares of West Pharmaceutical Services in a report on Monday. Evercore reaffirmed an “outperform” rating and issued a $425.00 price target on shares of West Pharmaceutical Services in a research note on Monday, July 27th. Morgan Stanley raised shares of West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $365.00 to $400.00 in a research note on Tuesday, September 22nd. Finally, Weiss Ratings upgraded shares of West Pharmaceutical Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, West Pharmaceutical Services presently has an average rating of “Moderate Buy” and an average price target of $424.67.

West Pharmaceutical Services Trading Up 0.0%

NYSE:WST opened at $408.06 on Wednesday. West Pharmaceutical Services, Inc. has a one year low of $223.83 and a one year high of $438.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.10 and a current ratio of 2.82. The firm has a market cap of $28.43 billion, a P/E ratio of 45.80, a P/E/G ratio of 2.48 and a beta of 1.13. The firm has a 50-day simple moving average of $369.96 and a 200-day simple moving average of $314.55.

West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings results on Thursday, October 29th. The medical instruments supplier reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.46. West Pharmaceutical Services had a net margin of 18.81% and a return on equity of 21.78%. The firm had revenue of $874.50 million during the quarter, compared to analysts’ expectations of $827.12 million. During the same quarter in the prior year, the company earned $1.96 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that West Pharmaceutical Services, Inc. will post 9.46 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Wednesday, November 11th will be issued a dividend of $0.26 per share. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, November 10th. West Pharmaceutical Services’s dividend payout ratio (DPR) is currently 9.88%.

Insiders Place Their Bets

In other West Pharmaceutical Services news, VP Annette Favorite sold 2,524 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $365.00, for a total transaction of $921,260.00. Following the sale, the vice president owned 21,818 shares of the company’s stock, valued at approximately $7,963,570. This trade represents a 10.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,659 shares of company stock worth $5,443,749 in the last ninety days. 0.60% of the stock is owned by corporate insiders.

West Pharmaceutical Services Profile

West Pharmaceutical Services, Inc develops and manufactures components and delivery systems used in the administration and packaging of injectable medicines and other healthcare products. Its offerings include elastomer closures, seals, syringe components, drug-delivery systems, and other specialized packaging components designed to support the safety, quality, and performance of pharmaceutical products.

The company also provides contract-manufacturing services for pharmaceutical, biotechnology, and medical-device customers.