4,592 West Pharmaceutical Services, Inc. $WST Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 33.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,076 shares of the medical instruments supplier’s stock after selling 4,592 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in West Pharmaceutical Services were worth $3,365,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of West Pharmaceutical Services in the second quarter worth approximately $2,387,990,000. Bank of New York Mellon Corp acquired a new stake in West Pharmaceutical Services during the second quarter worth about $733,733,000. Generation Investment Management LLP acquired a new position in shares of West Pharmaceutical Services in the 2nd quarter valued at $728,168,000. Findlay Park Partners LLP bought a new stake in shares of West Pharmaceutical Services in the 2nd quarter valued at approximately $214,196,000. Finally, Legal & General Group Plc acquired a new stake in shares of West Pharmaceutical Services during the second quarter worth approximately $176,138,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

West Pharmaceutical Services Stock Performance

WST stock opened at $399.62 on Monday. The firm has a market cap of $27.84 billion, a PE ratio of 44.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.13. West Pharmaceutical Services, Inc. has a 1-year low of $223.83 and a 1-year high of $438.27. The stock has a 50-day moving average price of $373.06 and a 200-day moving average price of $316.61. The company has a current ratio of 2.82, a quick ratio of 2.10 and a debt-to-equity ratio of 0.07.

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

West Pharmaceutical Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Wednesday, November 11th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, November 10th. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.3%. West Pharmaceutical Services’s dividend payout ratio (DPR) is currently 11.67%.

Wall Street Analysts Forecast Growth

WST has been the subject of several research reports. Citigroup lifted their target price on West Pharmaceutical Services from $412.00 to $494.00 and gave the company a “buy” rating in a research note on Friday, October 30th. UBS Group boosted their target price on West Pharmaceutical Services from $340.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Evercore reissued an “outperform” rating and set a $425.00 price target on shares of West Pharmaceutical Services in a research report on Monday, July 27th. TD Cowen raised their price target on West Pharmaceutical Services from $420.00 to $500.00 and gave the company a “buy” rating in a report on Friday, October 30th. Finally, BNP Paribas Exane initiated coverage on West Pharmaceutical Services in a research report on Monday, July 13th. They set an “outperform” rating and a $447.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, West Pharmaceutical Services presently has an average rating of “Moderate Buy” and an average target price of $424.67.

Insider Buying and Selling at West Pharmaceutical Services

In other West Pharmaceutical Services news, VP Annette Favorite sold 8,135 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $340.81, for a total transaction of $2,772,489.35. Following the sale, the vice president owned 16,845 shares of the company’s stock, valued at $5,740,944.45. The trade was a 32.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 15,659 shares of company stock valued at $5,443,749 in the last three months. 0.60% of the stock is owned by company insiders.

About West Pharmaceutical Services

West Pharmaceutical Services designs and manufactures packaging components and delivery systems used by the pharmaceutical, biotechnology, and medical device industries. Its products help contain and administer injectable medicines and include elastomeric components, such as stoppers and seals, as well as syringe components and other packaging and delivery solutions.

The company also provides contract manufacturing services for medical devices and pharmaceutical delivery systems. Its customers include companies developing and producing branded, generic, and biologic medicines.

Founded in 1923 by Herman O.