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West Pharmaceutical Services Inc WST

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Mid-Cap Med-Tech Is Mega-Valued: Teleflex, Mettler, Zeiss, and Neogen Look Distinctly Overpriced

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

Most medical technology and device companies under our coverage have economic moats, but attractive valuations are hard to find, and the sector trades at an average price/fair value estimate of 1.33.

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Company Profile

Business Description

West Pharmaceutical Services is a Pennsylvania-based medical supplies company that operates as a key supplier to firms in the pharmaceutical, biotechnology, and generic drug industries. West develops, manufactures, and distributes elastomer-based supplies for the containment and administration of injectable drugs, including basic equipment such as syringes, stoppers, and plungers, along with somewhat more complicated devices including auto-injectors and other self-injection platforms. The company reports in two segments: proprietary products (77% of 2020 sales) and contract-manufactured products (23%). It generates 55% of its revenue from international markets and 45% from the United States.

530 Herman O. West Drive
Exton, PA, 19341-0645
T +1 610 594-2900
Sector Healthcare
Industry Medical Instruments & Supplies
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Aggressive Growth
Employees 9,200