Pier Capital LLC increased its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,782 shares of the medical instruments supplier’s stock after acquiring an additional 917 shares during the quarter. Pier Capital LLC owned about 0.08% of West Pharmaceutical Services worth $5,947,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new position in West Pharmaceutical Services during the 2nd quarter worth approximately $113,000. Citigroup Inc. boosted its stake in West Pharmaceutical Services by 95.1% during the 2nd quarter. Citigroup Inc. now owns 1,569 shares of the medical instruments supplier’s stock worth $148,000 after acquiring an additional 765 shares during the last quarter. Wolverine Trading LLC bought a new position in West Pharmaceutical Services in the second quarter valued at approximately $200,000. Nomura Holdings Inc. bought a new position in West Pharmaceutical Services in the second quarter valued at approximately $201,000. Finally, Grandfield & Dodd LLC bought a new position in West Pharmaceutical Services in the third quarter valued at approximately $201,000. 93.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of West Pharmaceutical Services, Inc. (WST) traded up $0.28 on Tuesday, reaching $99.39. 344,600 shares of the company’s stock were exchanged, compared to its average volume of 363,565. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.87 and a current ratio of 2.59. West Pharmaceutical Services, Inc. has a 1 year low of $77.97 and a 1 year high of $103.36. The company has a market capitalization of $7,359.21, a price-to-earnings ratio of 42.72, a P/E/G ratio of 2.11 and a beta of 1.11.
A number of research analysts have weighed in on WST shares. Jefferies Group raised shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and lifted their price target for the company from $96.00 to $115.00 in a research note on Friday, September 15th. Stephens started coverage on shares of West Pharmaceutical Services in a research note on Tuesday, October 3rd. They issued an “equal weight” rating and a $99.00 price target on the stock. Zacks Investment Research raised shares of West Pharmaceutical Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Bank of America lowered shares of West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 price target on the stock. in a research note on Tuesday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $106.00.
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About West Pharmaceutical Services
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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