Principal Financial Group Inc. decreased its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,719 shares of the medical instruments supplier's stock after selling 5,520 shares during the period. Principal Financial Group Inc. owned 0.12% of West Pharmaceutical Services worth $29,553,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in WST. Norges Bank bought a new stake in shares of West Pharmaceutical Services during the 4th quarter valued at $300,250,000. Artisan Partners Limited Partnership raised its holdings in West Pharmaceutical Services by 23.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,961,063 shares of the medical instruments supplier's stock valued at $690,530,000 after acquiring an additional 369,792 shares during the period. APG Asset Management US Inc. purchased a new position in shares of West Pharmaceutical Services in the fourth quarter valued at about $88,227,000. Liontrust Investment Partners LLP bought a new position in shares of West Pharmaceutical Services in the second quarter worth about $64,196,000. Finally, TD Asset Management Inc grew its position in shares of West Pharmaceutical Services by 38.4% during the fourth quarter. TD Asset Management Inc now owns 659,560 shares of the medical instruments supplier's stock worth $232,244,000 after purchasing an additional 183,153 shares in the last quarter. Hedge funds and other institutional investors own 93.90% of the company's stock.
West Pharmaceutical Services Price Performance
WST traded down $1.16 on Monday, hitting $313.63. 590,400 shares of the company's stock traded hands, compared to its average volume of 559,549. West Pharmaceutical Services, Inc. has a one year low of $265.00 and a one year high of $415.73. The company has a current ratio of 2.34, a quick ratio of 1.68 and a debt-to-equity ratio of 0.03. The firm has a market cap of $22.75 billion, a price-to-earnings ratio of 41.38, a P/E/G ratio of 11.15 and a beta of 1.01. The company's 50 day simple moving average is $309.34 and its 200-day simple moving average is $342.71.
West Pharmaceutical Services (NYSE:WST - Get Free Report) last released its 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 company had revenue of $702.10 million during the quarter, compared to analysts' expectations of $729.36 million. West Pharmaceutical Services had a return on equity of 19.17% and a net margin of 18.25%. West Pharmaceutical Services's quarterly revenue was down 6.9% compared to the same quarter last year. During the same period last year, the firm posted $2.11 EPS. As a group, research analysts anticipate that West Pharmaceutical Services, Inc. will post 6.44 EPS for the current year.
Insider Activity
In other news, SVP Silji Abraham sold 1,800 shares of West Pharmaceutical Services stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $330.78, for a total value of $595,404.00. Following the sale, the senior vice president now directly owns 2,860 shares of the company's stock, valued at $946,030.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Charles Witherspoon sold 1,029 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $300.00, for a total transaction of $308,700.00. Following the sale, the vice president now owns 1,478 shares of the company's stock, valued at $443,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Silji Abraham sold 1,800 shares of the stock in a transaction 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 transaction, the senior vice president now owns 2,860 shares of the company's stock, valued at approximately $946,030.80. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.
About West Pharmaceutical Services
(Free Report)
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.
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