West Pharmaceutical Services (WST) Reported Higher Growth Driven by Price Increases

Baron Funds, an asset management company, released its “Baron Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund fell 18.69%. The fund performed moderately better in the quarter compared to a 19.25% decline in the Russell 2000 Growth benchmark Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Baron Funds discussed stocks like West Pharmaceutical Services, Inc. (NYSE:WST). Headquartered in Exton, Pennsylvania, West Pharmaceutical Services, Inc. (NYSE:WST) is a manufacturer of healthcare products and injectable drug packaging. On September 1, 2022, West Pharmaceutical Services, Inc. (NYSE:WST) stock closed at $296.10 per share. One-month return of West Pharmaceutical Services, Inc. (NYSE:WST) was -13.03% and its shares lost 35.49% of their value over the last 52 weeks. West Pharmaceutical Services, Inc. (NYSE:WST) has a market capitalization of $21.926 billion.

Here is what Baron Funds specifically said about West Pharmaceutical Services, Inc. (NYSE:WST):

“West Pharmaceutical Services, Inc. (NYSE:WST), a leader in integrated containment and delivery systems for injectable drugs, reported 3.5% growth from price increases during its first quarter, or almost three times greater than the 1.2% growth realized in the prior year.”

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West Pharmaceutical Services, Inc. (NYSE:WST) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, West Pharmaceutical Services, Inc. (NYSE:WST) was held by 34 hedge fund portfolios 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 Baron Funds’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

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