State of New Jersey Common Pension Fund D reduced its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Free Report) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,965 shares of the medical instruments supplier’s stock after selling 2,044 shares during the period. State of New Jersey Common Pension Fund D’s holdings in West Pharmaceutical Services were worth $15,746,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of WST. Cetera Investment Advisers lifted its position in shares of West Pharmaceutical Services by 4.4% during the 1st quarter. Cetera Investment Advisers now owns 4,864 shares of the medical instruments supplier’s stock worth $1,998,000 after purchasing an additional 207 shares during the last quarter. Moors & Cabot Inc. lifted its position in West Pharmaceutical Services by 54.4% in the first quarter. Moors & Cabot Inc. now owns 849 shares of the medical instruments supplier’s stock valued at $349,000 after acquiring an additional 299 shares during the last quarter. National Pension Service lifted its position in West Pharmaceutical Services by 0.4% in the first quarter. National Pension Service now owns 103,190 shares of the medical instruments supplier’s stock valued at $42,381,000 after acquiring an additional 394 shares during the last quarter. Vanguard Group Inc. lifted its position in West Pharmaceutical Services by 1.0% in the first quarter. Vanguard Group Inc. now owns 8,716,312 shares of the medical instruments supplier’s stock valued at $3,579,876,000 after acquiring an additional 82,459 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in West Pharmaceutical Services by 152.8% in the first quarter. Baird Financial Group Inc. now owns 4,262 shares of the medical instruments supplier’s stock valued at $1,751,000 after acquiring an additional 2,576 shares during the last quarter. 91.23% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at West Pharmaceutical Services
In other news, CAO Chad Winters sold 1,013 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $349.00, for a total transaction of $353,537.00. Following the transaction, the chief accounting officer now directly owns 1,270 shares in the company, valued at $443,230. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.13% of the stock is currently owned by company insiders.
West Pharmaceutical Services Trading Down 0.3 %
West Pharmaceutical Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $0.80 dividend on an annualized basis and a yield of 0.20%. West Pharmaceutical Services’s dividend payout ratio is presently 10.80%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $323.00 to $536.00 in a research report on Wednesday. StockNews.com raised shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Finally, Stephens reduced their price target on shares of West Pharmaceutical Services from $420.00 to $390.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $412.20.
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.
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