Canada Pension Plan Investment Board Has $32.71 Million Position in West Pharmaceutical Services, Inc. (NYSE:WST)

Canada Pension Plan Investment Board lessened its position in West Pharmaceutical Services, Inc. (NYSE:WST) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,509 shares of the medical instruments supplier’s stock after selling 5,700 shares during the period. Canada Pension Plan Investment Board owned 0.12% of West Pharmaceutical Services worth $32,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WST. Norges Bank acquired a new stake in shares of West Pharmaceutical Services in the fourth quarter valued at about $237,367,000. Price T Rowe Associates Inc. MD increased its stake in shares of West Pharmaceutical Services by 23.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,842,701 shares of the medical instruments supplier’s stock valued at $984,912,000 after buying an additional 541,540 shares during the period. JPMorgan Chase & Co. increased its stake in shares of West Pharmaceutical Services by 73.2% in the first quarter. JPMorgan Chase & Co. now owns 849,266 shares of the medical instruments supplier’s stock valued at $294,246,000 after buying an additional 359,021 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of West Pharmaceutical Services in the first quarter valued at about $78,770,000. Finally, Bank of Montreal Can acquired a new stake in shares of West Pharmaceutical Services in the second quarter valued at about $73,389,000. Institutional investors and hedge funds own 91.23% of the company’s stock.

West Pharmaceutical Services Stock Up 2.8 %

Shares of West Pharmaceutical Services stock opened at $347.48 on Wednesday. The stock’s 50-day moving average is $367.93 and its 200 day moving average is $370.55. The firm has a market cap of $25.71 billion, a price-to-earnings ratio of 46.89, a PEG ratio of 8.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.70 and a quick ratio of 2.89. West Pharmaceutical Services, Inc. has a one year low of $219.24 and a one year high of $415.73.

West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings results on Thursday, October 26th. The medical instruments supplier reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.30. The business had revenue of $747.40 million for the quarter, compared to analyst estimates of $750.31 million. West Pharmaceutical Services had a return on equity of 21.86% and a net margin of 19.11%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.03 earnings per share. Equities research analysts anticipate that West Pharmaceutical Services, Inc. will post 8.03 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $0.80 annualized dividend and a yield of 0.23%. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.19. West Pharmaceutical Services’s dividend payout ratio is presently 10.80%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com raised West Pharmaceutical Services from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. KeyCorp upped their target price on West Pharmaceutical Services from $415.00 to $440.00 and gave the company an “overweight” rating in a research report on Wednesday, August 30th. Finally, Stephens cut their target price on West Pharmaceutical Services from $420.00 to $390.00 and set an “overweight” rating on the stock in a research report on Friday, October 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, West Pharmaceutical Services presently has an average rating of “Moderate Buy” and an average price target of $355.00.

Insiders Place Their Bets

In other West Pharmaceutical Services news, insider Cindy Reiss-Clark sold 3,477 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $393.34, for a total value of $1,367,643.18. Following the transaction, the insider now owns 4,320 shares in the company, valued at $1,699,228.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Annette F. Favorite sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $414.64, for a total value of $829,280.00. Following the transaction, the vice president now owns 14,877 shares in the company, valued at $6,168,599.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cindy Reiss-Clark sold 3,477 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $393.34, for a total value of $1,367,643.18. Following the completion of the transaction, the insider now owns 4,320 shares in the company, valued at approximately $1,699,228.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,667 shares of company stock worth $2,580,543. Corporate insiders own 1.13% of the company’s stock.

About West Pharmaceutical Services

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.