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Jefferies Upgrades West Pharmaceutical Services, Inc. (WST) to a Buy from a Hold

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West Pharmaceutical Services, Inc.’s recent filing unveils that its President, CEO and Board Chair Green Eric Mark unloaded Company’s shares for reported $24.2 million on May 07 ’24. In the deal valued at $366.65 per share,66,000 shares were sold. As a result of this transaction, Green Eric Mark now holds 152,908 shares worth roughly $54.77 million.

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Then, Winters Chad sold 815 shares, generating $292,436 in total proceeds. Upon selling the shares at $358.82, the VP, Chief Accounting Officer now owns 1,309 shares.

Before that, Witherspoon Charles sold 2,019 shares. West Pharmaceutical Services, Inc. shares valued at $724,061 were divested by the VP & Treasurer at a price of $358.62 per share. As a result of the transaction, Witherspoon Charles now holds 1,979 shares, worth roughly $0.71 million.

Jefferies upgraded its West Pharmaceutical Services, Inc. [WST] rating to a Buy from a a Hold in a research note published on February 07, 2024; the price target was increased to $536 from $323. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in mid June from “a Neutral” to “a Buy”. Stephens also remained covering WST and has increased its forecast on April 11, 2023 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Deutsche Bank started covering the stock on December 14, 2022. It rated WST as “a Hold”.

Price Performance Review of WST

On Monday, West Pharmaceutical Services, Inc. [NYSE:WST] saw its stock fall -1.65% to $358.17. Over the last five days, the stock has lost -2.28%. West Pharmaceutical Services, Inc. shares have risen nearly 1.72% since the year began. Nevertheless, the stocks have fallen -0.54% over the past one year. While a 52-week high of $415.73 was reached on 02/07/24, a 52-week low of $310.42 was recorded on 02/15/24. SMA at 50 days reached $377.86, while 200 days put it at $370.39. A total of 0.51 million shares were traded, compared to the trading of 0.49 million shares in the previous session.

Levels Of Support And Resistance For WST Stock

The 24-hour chart illustrates a support level at 354.51, which if violated will result in even more drops to 350.85. On the upside, there is a resistance level at 364.77. A further resistance level may holdings at 371.37. The Relative Strength Index (RSI) on the 14-day chart is 38.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.54, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.01%. Stochastics %K at 23.74% indicates the stock is a holding.

The most recent change occurred on November 30, 2022 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $250 price target.

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