Carillon Tower Advisers Inc. bought a new position in West Pharmaceutical Services Inc. (NYSE:WST) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 395,622 shares of the medical instruments supplier’s stock, valued at approximately $39,036,000. Carillon Tower Advisers Inc. owned 0.53% of West Pharmaceutical Services as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in WST. Grandfield & Dodd LLC bought a new position in West Pharmaceutical Services in the 3rd quarter worth $201,000. Private Advisor Group LLC bought a new position in West Pharmaceutical Services in the 3rd quarter worth $202,000. Alps Advisors Inc. bought a new position in West Pharmaceutical Services in the 4th quarter worth $206,000. Tiedemann Wealth Management LLC bought a new position in West Pharmaceutical Services in the 3rd quarter worth $207,000. Finally, Stephens Inc. AR bought a new position in West Pharmaceutical Services in the 3rd quarter worth $210,000. 94.37% of the stock is currently owned by institutional investors.
Shares of West Pharmaceutical Services Inc. (WST) opened at $92.07 on Wednesday. West Pharmaceutical Services Inc. has a 12 month low of $77.97 and a 12 month high of $103.36. The company has a quick ratio of 1.89, a current ratio of 2.66 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $6,809.72, a price-to-earnings ratio of 46.27, a price-to-earnings-growth ratio of 2.28 and a beta of 1.15.
West Pharmaceutical Services announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that allows the company to repurchase 800,000 shares. This repurchase authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Wednesday, April 18th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, April 17th. This represents a $0.56 dividend on an annualized basis and a yield of 0.61%. West Pharmaceutical Services’s payout ratio is presently 28.14%.
A number of equities analysts recently commented on the company. Zacks Investment Research raised West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Saturday, February 3rd. Goldman Sachs Group assumed coverage on West Pharmaceutical Services in a report on Wednesday, January 24th. They issued a “neutral” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $108.17.
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West Pharmaceutical Services Profile
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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