Toronto Dominion Bank lowered its position in West Pharmaceutical Services, Inc. (NYSE:WST) by 21.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 37,157 shares of the medical instruments supplier’s stock after selling 10,038 shares during the quarter. Toronto Dominion Bank’s holdings in West Pharmaceutical Services were worth $10,470,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Vident Investment Advisory LLC lifted its holdings in West Pharmaceutical Services by 1.5% in the 4th quarter. Vident Investment Advisory LLC now owns 2,769 shares of the medical instruments supplier’s stock worth $784,000 after buying an additional 40 shares in the last quarter. Signaturefd LLC lifted its holdings in West Pharmaceutical Services by 15.3% in the 1st quarter. Signaturefd LLC now owns 340 shares of the medical instruments supplier’s stock worth $96,000 after buying an additional 45 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in West Pharmaceutical Services by 6.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 722 shares of the medical instruments supplier’s stock worth $205,000 after buying an additional 46 shares in the last quarter. Parallel Advisors LLC lifted its holdings in West Pharmaceutical Services by 39.8% in the 4th quarter. Parallel Advisors LLC now owns 172 shares of the medical instruments supplier’s stock worth $49,000 after buying an additional 49 shares in the last quarter. Finally, Stanley Laman Group Ltd. lifted its holdings in West Pharmaceutical Services by 2.6% in the 1st quarter. Stanley Laman Group Ltd. now owns 1,948 shares of the medical instruments supplier’s stock worth $549,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 92.12% of the company’s stock.
In related news, insider Silji Abraham sold 2,171 shares of the business’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $335.00, for a total transaction of $727,285.00. Following the completion of the sale, the insider now owns 6,077 shares of the company’s stock, valued at approximately $2,035,795. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is owned by corporate insiders.
West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings data on Thursday, April 29th. The medical instruments supplier reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.63. West Pharmaceutical Services had a net margin of 18.19% and a return on equity of 25.08%. The business had revenue of $670.70 million during the quarter, compared to the consensus estimate of $614.77 million. As a group, analysts expect that West Pharmaceutical Services, Inc. will post 7.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 4th. Investors of record on Wednesday, July 21st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Tuesday, July 20th. West Pharmaceutical Services’s dividend payout ratio is presently 14.29%.
Separately, Zacks Investment Research upgraded shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $355.00 target price on the stock in a research note on Wednesday, April 21st.
West Pharmaceutical Services Company Profile
West Pharmaceutical Services, Inc designs and produces containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers stoppers and seals for injectable packaging systems; syringe and cartridge components, including custom solutions for the needs of injectable drug applications, as well as administration systems that enhance the safe delivery of drugs through advanced reconstitution, mixing, and transfer technologies; and films, coatings, washing, and vision inspection and sterilization processes and services to enhance the quality of packaging components.
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