Victory Capital Management Inc. Sells 49,624 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

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Victory Capital Management Inc. reduced its position in West Pharmaceutical Services, Inc. (NYSE:WST) by 7.7% in the third quarter, HoldingsChannel.com reports. The firm owned 598,081 shares of the medical instruments supplier’s stock after selling 49,624 shares during the period. Victory Capital Management Inc.’s holdings in West Pharmaceutical Services were worth $164,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WST. Vanguard Group Inc. boosted its position in shares of West Pharmaceutical Services by 12.2% in the second quarter. Vanguard Group Inc. now owns 8,620,187 shares of the medical instruments supplier’s stock worth $1,958,248,000 after purchasing an additional 938,852 shares during the period. FMR LLC boosted its position in shares of West Pharmaceutical Services by 7,826.5% in the second quarter. FMR LLC now owns 580,698 shares of the medical instruments supplier’s stock worth $131,917,000 after purchasing an additional 573,372 shares during the period. BlackRock Inc. boosted its position in shares of West Pharmaceutical Services by 4.0% in the third quarter. BlackRock Inc. now owns 6,940,029 shares of the medical instruments supplier’s stock worth $1,907,816,000 after purchasing an additional 267,185 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of West Pharmaceutical Services by 33.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 597,518 shares of the medical instruments supplier’s stock worth $135,739,000 after purchasing an additional 149,418 shares during the period. Finally, WCM Investment Management LLC boosted its position in shares of West Pharmaceutical Services by 10.6% in the second quarter. WCM Investment Management LLC now owns 1,559,709 shares of the medical instruments supplier’s stock worth $354,319,000 after purchasing an additional 148,890 shares during the period. Institutional investors and hedge funds own 92.55% of the company’s stock.

In other news, Director Patrick J. Zenner bought 335 shares of West Pharmaceutical Services stock in a transaction dated Saturday, October 17th. The shares were acquired at an average price of $93.94 per share, with a total value of $31,469.90. Following the completion of the purchase, the director now owns 66,475 shares in the company, valued at approximately $6,244,661.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP George Lloyd Miller sold 9,000 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $296.67, for a total transaction of $2,670,030.00. Following the completion of the sale, the vice president now directly owns 16,540 shares in the company, valued at approximately $4,906,921.80. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

A number of brokerages recently weighed in on WST. Zacks Investment Research upgraded shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $313.00 target price for the company in a research report on Saturday, October 24th. KeyCorp began coverage on shares of West Pharmaceutical Services in a research report on Monday, November 9th. They set an “overweight” rating and a $350.00 target price for the company. Bank of America upgraded shares of West Pharmaceutical Services from a “neutral” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Tuesday, July 21st. Finally, Stephens began coverage on shares of West Pharmaceutical Services in a research report on Tuesday, October 13th. They set an “equal weight” rating and a $300.00 target price for the company.

WST stock traded down $5.85 during trading on Tuesday, hitting $286.16. 1,479 shares of the company’s stock traded hands, compared to its average volume of 595,235. West Pharmaceutical Services, Inc. has a 52 week low of $124.53 and a 52 week high of $305.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.23 and a current ratio of 2.96. The business has a fifty day simple moving average of $285.12 and a 200 day simple moving average of $250.98. The stock has a market capitalization of $21.59 billion, a price-to-earnings ratio of 77.05, a P/E/G ratio of 3.86 and a beta of 1.13.

West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings data on Thursday, October 22nd. The medical instruments supplier reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.16. West Pharmaceutical Services had a net margin of 14.69% and a return on equity of 19.01%. The business had revenue of $548.00 million during the quarter, compared to analyst estimates of $510.15 million. During the same quarter last year, the business earned $0.79 earnings per share. West Pharmaceutical Services’s quarterly revenue was up 20.2% compared to the same quarter last year. Research analysts forecast that West Pharmaceutical Services, Inc. will post 4.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, November 9th. This represents a $0.68 annualized dividend and a yield of 0.24%. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.16. West Pharmaceutical Services’s dividend payout ratio (DPR) is 20.99%.

About West Pharmaceutical Services

West Pharmaceutical Services, Inc manufactures and sells containment and delivery systems for injectable drugs and healthcare products in the United States, Germany, Ireland, France, Other European countries, and internationally. The company operates through two segments, Proprietary Products and Contract-Manufactured Products.

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

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