IronBridge Capital Management LP Sells 124,608 Shares of West Pharmaceutical Services Inc. (WST)

IronBridge Capital Management LP cut its stake in West Pharmaceutical Services Inc. (NYSE:WST) by 31.7% during the first quarter, Holdings Channel reports. The firm owned 268,421 shares of the medical instruments supplier’s stock after selling 124,608 shares during the period. West Pharmaceutical Services makes up about 1.3% of IronBridge Capital Management LP’s portfolio, making the stock its 16th largest position. IronBridge Capital Management LP’s holdings in West Pharmaceutical Services were worth $21,906,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Advantus Capital Management Inc boosted its position in shares of West Pharmaceutical Services by 1.1% in the third quarter. Advantus Capital Management Inc now owns 8,950 shares of the medical instruments supplier’s stock valued at $667,000 after buying an additional 100 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of West Pharmaceutical Services during the third quarter valued at about $216,000. KCG Holdings Inc. purchased a new position in shares of West Pharmaceutical Services during the third quarter valued at about $631,000. Principal Financial Group Inc. boosted its position in shares of West Pharmaceutical Services by 3.4% in the third quarter. Principal Financial Group Inc. now owns 289,920 shares of the medical instruments supplier’s stock valued at $21,599,000 after buying an additional 9,401 shares during the period. Finally, Suntrust Banks Inc. boosted its position in shares of West Pharmaceutical Services by 1.8% in the third quarter. Suntrust Banks Inc. now owns 9,149 shares of the medical instruments supplier’s stock valued at $679,000 after buying an additional 166 shares during the period. 90.31% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for West Pharmaceutical Services (NYSE:WST)

Shares of West Pharmaceutical Services Inc. (NYSE:WST) traded up 0.24% during mid-day trading on Friday, hitting $95.31. 219,405 shares of the stock were exchanged. The stock has a 50-day moving average price of $87.61 and a 200 day moving average price of $83.94. West Pharmaceutical Services Inc. has a 52-week low of $70.17 and a 52-week high of $96.97. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 39.45 and a beta of 0.94.

West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings data on Thursday, April 27th. The medical instruments supplier reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.26. The firm had revenue of $387.70 million during the quarter, compared to analyst estimates of $380.42 million. West Pharmaceutical Services had a net margin of 9.27% and a return on equity of 14.54%. West Pharmaceutical Services’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. On average, equities research analysts expect that West Pharmaceutical Services Inc. will post $2.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Wednesday, July 19th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, July 17th. West Pharmaceutical Services’s payout ratio is currently 28.11%.

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Several brokerages have issued reports on WST. Jefferies Group LLC reaffirmed a “hold” rating and issued a $90.00 target price (up from $82.00) on shares of West Pharmaceutical Services in a report on Friday, April 28th. Zacks Investment Research raised shares of West Pharmaceutical Services from a “sell” rating to a “hold” rating in a report on Saturday, April 29th.

In related news, VP Daniel Malone sold 4,124 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $93.31, for a total value of $384,810.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William J. Federici sold 54,996 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $95.45, for a total transaction of $5,249,368.20. The disclosure for this sale can be found here. Company insiders own 5.13% of the company’s stock.

West Pharmaceutical Services Company Profile

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.

12 Month Chart for NYSE:WST

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