Synovus Financial Corp Decreases Position in West Pharmaceutical Services, Inc. (NYSE:WST)

Synovus Financial Corp reduced its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,407 shares of the medical instruments supplier’s stock after selling 65 shares during the period. Synovus Financial Corp’s holdings in West Pharmaceutical Services were worth $422,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC increased its position in shares of West Pharmaceutical Services by 322.7% during the second quarter. Crewe Advisors LLC now owns 93 shares of the medical instruments supplier’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in West Pharmaceutical Services during the 3rd quarter worth $30,000. Brooklyn Investment Group purchased a new stake in shares of West Pharmaceutical Services during the third quarter worth $41,000. Quest Partners LLC raised its position in shares of West Pharmaceutical Services by 5,633.3% in the second quarter. Quest Partners LLC now owns 172 shares of the medical instruments supplier’s stock valued at $57,000 after buying an additional 169 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of West Pharmaceutical Services by 332.1% in the second quarter. Blue Trust Inc. now owns 242 shares of the medical instruments supplier’s stock worth $80,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

West Pharmaceutical Services Trading Down 2.7 %

Shares of NYSE WST opened at $325.32 on Thursday. The stock has a fifty day simple moving average of $315.26 and a 200-day simple moving average of $311.77. West Pharmaceutical Services, Inc. has a twelve month low of $265.00 and a twelve month high of $413.70. The company has a current ratio of 3.00, a quick ratio of 2.23 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $23.56 billion, a PE ratio of 48.27, a PEG ratio of 25.04 and a beta of 1.01.

West Pharmaceutical Services (NYSE:WST) last issued its quarterly earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.35. West Pharmaceutical Services had a net margin of 17.37% and a return on equity of 18.41%. The company had revenue of $746.90 million for the quarter, compared to analyst estimates of $709.62 million. During the same period in the prior year, the firm earned $2.16 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts forecast that West Pharmaceutical Services, Inc. will post 6.64 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th were paid a $0.21 dividend. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, November 13th. This represents a $0.84 annualized dividend and a dividend yield of 0.26%. West Pharmaceutical Services’s payout ratio is 12.46%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America increased their price objective on shares of West Pharmaceutical Services from $350.00 to $355.00 and gave the company a “buy” rating in a report on Friday, December 13th. Wolfe Research initiated coverage on shares of West Pharmaceutical Services in a report on Friday, December 13th. They issued a “peer perform” rating on the stock. Finally, UBS Group upgraded West Pharmaceutical Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $350.00 to $390.00 in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, West Pharmaceutical Services has a consensus rating of “Moderate Buy” and an average price target of $437.75.

Insider Transactions at West Pharmaceutical Services

In related news, VP Charles Witherspoon sold 703 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $310.40, for a total transaction of $218,211.20. Following the completion of the transaction, the vice president now directly owns 1,253 shares of the company’s stock, valued at $388,931.20. The trade was a 35.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

About West Pharmaceutical Services

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.