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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