CoreCap Advisors LLC Makes New Investment in West Pharmaceutical Services, Inc. (NYSE:WST)

Posted by Defense World Staff on Jun 1st, 2023

CoreCap Advisors LLC acquired a new position in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 239 shares of the medical instruments supplier’s stock, valued at approximately $56,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Texas Permanent School Fund grew its position in West Pharmaceutical Services by 0.4% during the 4th quarter. Texas Permanent School Fund now owns 10,519 shares of the medical instruments supplier’s stock worth $2,476,000 after purchasing an additional 42 shares in the last quarter. Formidable Asset Management LLC grew its holdings in shares of West Pharmaceutical Services by 2.4% during the 3rd quarter. Formidable Asset Management LLC now owns 1,870 shares of the medical instruments supplier’s stock valued at $460,000 after acquiring an additional 44 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of West Pharmaceutical Services by 5.7% during the 1st quarter. Wetherby Asset Management Inc. now owns 822 shares of the medical instruments supplier’s stock valued at $338,000 after acquiring an additional 44 shares in the last quarter. Lumature Wealth Partners LLC grew its holdings in shares of West Pharmaceutical Services by 6.5% during the 3rd quarter. Lumature Wealth Partners LLC now owns 783 shares of the medical instruments supplier’s stock valued at $193,000 after acquiring an additional 48 shares in the last quarter. Finally, InterOcean Capital Group LLC grew its holdings in shares of West Pharmaceutical Services by 3.1% during the 4th quarter. InterOcean Capital Group LLC now owns 1,811 shares of the medical instruments supplier’s stock valued at $426,000 after acquiring an additional 54 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stephens upgraded shares of West Pharmaceutical Services from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $330.00 to $400.00 in a report on Tuesday, April 11th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of West Pharmaceutical Services from $250.00 to $290.00 in a report on Wednesday, February 22nd. StockNews.com started coverage on shares of West Pharmaceutical Services in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, KeyCorp lifted their price objective on shares of West Pharmaceutical Services from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, February 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $313.00.

West Pharmaceutical Services Stock Down 0.5 %

WST stock opened at $334.63 on Thursday. The company has a current ratio of 3.62, a quick ratio of 2.79 and a debt-to-equity ratio of 0.07. West Pharmaceutical Services, Inc. has a 1 year low of $206.19 and a 1 year high of $376.72. The company has a fifty day simple moving average of $353.21 and a 200 day simple moving average of $296.61. The firm has a market cap of $24.84 billion, a PE ratio of 45.97, a PEG ratio of 6.97 and a beta of 1.09.

West Pharmaceutical Services (NYSE:WST – Get Rating) last released its earnings results on Thursday, April 27th. The medical instruments supplier reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.31. The firm had revenue of $716.60 million during the quarter, compared to analyst estimates of $697.28 million. West Pharmaceutical Services had a net margin of 19.15% and a return on equity of 24.14%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.30 EPS. Sell-side analysts anticipate that West Pharmaceutical Services, Inc. will post 7.63 EPS for the current fiscal year.

West Pharmaceutical Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 26th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Tuesday, July 25th. West Pharmaceutical Services’s dividend payout ratio is 10.44%.

Insiders Place Their Bets

In other West Pharmaceutical Services news, VP Annette F. Favorite sold 13,012 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $365.81, for a total transaction of $4,759,919.72. Following the completion of the transaction, the vice president now owns 14,877 shares of the company’s stock, valued at approximately $5,442,155.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Annette F. Favorite sold 13,012 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $365.81, for a total transaction of $4,759,919.72. Following the completion of the transaction, the vice president now owns 14,877 shares of the company’s stock, valued at $5,442,155.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles Witherspoon sold 1,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $343.05, for a total transaction of $343,050.00. Following the transaction, the vice president now directly owns 1,829 shares of the company’s stock, valued at approximately $627,438.45. The disclosure for this sale can be found here. Insiders sold a total of 112,744 shares of company stock valued at $39,121,808 in the last quarter. Insiders own 1.13% of the company’s stock.

West Pharmaceutical Services Company Profile

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West Pharmaceutical Services, Inc manufactures and markets pharmaceuticals, biologics, vaccines and consumer healthcare products. It operates through the following business segments: Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers proprietary packaging, containment and drug delivery products, along with analytical lab services, to biologic, generic and pharmaceutical drug customers.