Kornitzer Capital Management Inc. KS Invests $6.92 Million in West Pharmaceutical Services, Inc. (NYSE:WST)

Kornitzer Capital Management Inc. KS bought a new stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,000 shares of the medical instruments supplier’s stock, valued at approximately $6,917,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. National Bank of Canada FI raised its position in shares of West Pharmaceutical Services by 9.0% in the 2nd quarter. National Bank of Canada FI now owns 34,259 shares of the medical instruments supplier’s stock valued at $11,118,000 after purchasing an additional 2,828 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in West Pharmaceutical Services in the 2nd quarter worth $216,000. Fiera Capital Corp lifted its holdings in shares of West Pharmaceutical Services by 3.6% during the second quarter. Fiera Capital Corp now owns 124,330 shares of the medical instruments supplier’s stock worth $40,953,000 after purchasing an additional 4,323 shares during the period. Rhumbline Advisers raised its position in West Pharmaceutical Services by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 217,809 shares of the medical instruments supplier’s stock worth $71,744,000 after buying an additional 4,822 shares during the last quarter. Finally, Harfst & Associates Inc. lifted its stake in West Pharmaceutical Services by 1.6% during the 2nd quarter. Harfst & Associates Inc. now owns 6,933 shares of the medical instruments supplier’s stock valued at $2,284,000 after acquiring an additional 106 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at West Pharmaceutical Services

In other news, SVP Silji Abraham sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $330.78, for a total transaction of $595,404.00. Following the sale, the senior vice president now owns 2,860 shares of the company’s stock, valued at approximately $946,030.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Silji Abraham sold 1,800 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $330.78, for a total transaction of $595,404.00. Following the sale, the senior vice president now directly owns 2,860 shares of the company’s stock, valued at approximately $946,030.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Charles Witherspoon sold 1,029 shares of West Pharmaceutical Services stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $300.00, for a total value of $308,700.00. Following the completion of the transaction, the vice president now owns 1,478 shares of the company’s stock, valued at approximately $443,400. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

West Pharmaceutical Services Stock Down 1.5 %

NYSE:WST opened at $300.30 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.34 and a quick ratio of 1.68. The company’s fifty day moving average price is $308.00 and its 200-day moving average price is $341.75. West Pharmaceutical Services, Inc. has a 1-year low of $265.00 and a 1-year high of $413.70. The firm has a market capitalization of $21.78 billion, a P/E ratio of 39.62, a PEG ratio of 10.84 and a beta of 1.01.

West Pharmaceutical Services (NYSE:WST) last posted its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $1.52 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.22). The business had revenue of $702.10 million during the quarter, compared to analysts’ expectations of $729.36 million. West Pharmaceutical Services had a net margin of 18.25% and a return on equity of 19.17%. West Pharmaceutical Services’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 earnings per share. As a group, equities research analysts anticipate that West Pharmaceutical Services, Inc. will post 6.44 EPS for the current year.

West Pharmaceutical Services Profile

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.