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Home » Stock Market News » West Pharmaceutical Services authorizes share buyback program

West Pharmaceutical Services authorizes share buyback program

Written by Miroslav Marinov
Miroslav Marinov
Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.
, | Updated: December 14, 2024

West Pharmaceutical Services Inc (NYSE: WST) said on Friday that its Board of Directors had authorized a share buyback program of up to 550,000 shares of the company’s common stock.

Share repurchases will be conducted from time to time on the open market or in privately-negotiated transactions.

The share buyback program is expected to be completed by December 31st 2025, the company said in a SEC filing.

West Pharmaceutical’s previously authorized share repurchase program is to expire by December 31st 2024.

Stock Performance

The shares of West Pharmaceutical Services Inc (WST) closed 0.47% ($1.57) lower at $330.05 in New York on Friday, as they reversed a gain from the previous market session.

The company’s total market cap now stands at $23.903 billion.

The shares of West Pharmaceutical Services Inc (WST) went up 49.61% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The company’s shares have retreated 6.27% so far this year.

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