Should You Add West Pharmaceutical Services (WST) Shares to Your Portfolio?

Baron Funds, an investment management company, released its “Baron Asset Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (institutional shares) declined 2.07% compared to a 0.65% decline for the Russell Midcap Growth Index. Differences in sector weights led to the underperformance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds discussed stocks like West Pharmaceutical Services, Inc. (NYSE:WST) in the Q3 2022 investor letter. Headquartered in Exton, Pennsylvania, West Pharmaceutical Services, Inc. (NYSE:WST) is a manufacturer of healthcare products and injectable drug packaging. On October 21, 2022, West Pharmaceutical Services, Inc. (NYSE:WST) stock closed at $232.88 per share. One-month return of West Pharmaceutical Services, Inc. (NYSE:WST) was -7.89% and its shares lost 44.21% of their value over the last 52 weeks. West Pharmaceutical Services, Inc. (NYSE:WST) has a market capitalization of $17.244 billion.

Baron Funds made the following comment about West Pharmaceutical Services, Inc. (NYSE:WST) in its Q3 2022 investor letter:

West Pharmaceutical Services, Inc. (NYSE:WST) manufactures components and systems for the packaging and delivery of injectable drugs. Its shares fell on investor concerns about a decline in the company’s COVID-related revenue because of a drop in vaccine demand and a slowdown in the shift to packing vaccines in single-use vials and syringes. Once its inherently volatile COVID related revenue stabilizes, we believe West’s stock will perform well, driven by healthy demand drivers in its base business that depends on a widely diversified group of primarily biologic drugs.”

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West Pharmaceutical Services, Inc. (NYSE:WST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held West Pharmaceutical Services, Inc. (NYSE:WST) at the end of the second quarter, which was 35 in the previous quarter.

We discussed West Pharmaceutical Services, Inc. (NYSE:WST) in another article and shared the best American dividend stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.