Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

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Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Our common stock is listed on the New York Stock Exchange (“NYSE”) under the symbol “WST.” The following table shows the high and low prices for our common stock as reported by the NYSE, for the periods indicated.



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Year
	High	Low	High	Low	High	Low	High	Low	High	Low
2017	$88.30	$79.06	$99.91	$77.97	$96.81	$80.02	$103.36	$89.77	$103.36	$77.97
2016	$69.59	$53.88	$77.71	$68.42	$84.33	$71.23	$86.50	$70.17	$86.50	$53.88

As of January 31, 2018, we had 880 shareholders of record, which excludes shareholders whose shares were held by brokerage firms, depositaries and other institutional firms in “street names” for their customers.

Dividends

Our common stock paid a quarterly dividend of $0.12 per share in each of the first three quarters of 2016; $0.13 per share in the fourth quarter of 2016 and each of the first three quarters of 2017; and $0.14 per share in the fourth quarter of 2017.

Issuer Purchases of Equity Securities

The following table shows information with respect to purchases of our common stock made during the three months ended December 31, 2017 by us or any of our “affiliated purchasers” as defined in Rule 10b-18(a)(3) under the Exchange Act:



Period	Total number of shares purchased (1)(2)	Average price paid per share (1)(2)		Total number of shares purchased as part of publicly announced plans or programs (2)	Maximum number (or approximate dollar value) of shares that may yet be purchased under the plans or programs (2) (3)
October 1 – 31, 2017	—	$	—	—	475,000
November 1 – 30, 2017	319,590	100.00		319,500	155,500
December 1 – 31, 2017	155,530	99.65		155,500	—
Total	475,120	$	99.88	475,000	—


(1)	Includes 120 shares purchased on behalf of employees enrolled in the Non-Qualified Deferred Compensation Plan for Designated Employees (Amended and Restated Effective January 1, 2008). Under the plan, Company match contributions are delivered to the plan’s investment administrator, who then purchases shares in the open market and credits the shares to individual plan accounts.


(2)	In December 2016, we announced a share repurchase program authorizing the repurchase of up to 800,000 shares of our common stock from time to time on the open market or in privately-negotiated transactions as permitted under the Securities Exchange Act of 1934 Rule 10b-18. During the fourth quarter of 2017, we purchased 475,000 shares of our common stock under this program at a cost of $47.5 million, or an average price of $99.88 per share. During the year ended December 31, 2017, we purchased 800,000 shares of our common stock under this program at a cost of $74.4 million, or an average price of $92.96 per share. This share repurchase program expired on December 31, 2017.

(2)

In December 2016, we announced a share repurchase program authorizing the repurchase of up to 800,000 shares of our common stock from time to time on the open market or in privately-negotiated transactions as permitted under the Securities Exchange Act of 1934 Rule 10b-18. During the fourth quarter of 2017, we purchased 475,000 shares of our common stock under this program at a cost of $47.5 million, or an average price of $99.88 per share. During the year ended December 31, 2017, we purchased 800,000 shares of our common stock under this program at a cost of $74.4 million, or an average price of $92.96 per share. This share repurchase program expired on December 31, 2017.


(3)	In February 2018, we announced a share repurchase program for calendar-year 2018 authorizing the repurchase of up to 800,000 shares of our common stock from time to time on the open market or in privately-negotiated transactions as permitted under the Securities Exchange Act of 1934 Rule 10b-18. The number of shares to be repurchased and the timing of such transactions will depend on a variety of factors, including market conditions. This share repurchase program is expected to be completed by December 31, 2018.

(3)

In February 2018, we announced a share repurchase program for calendar-year 2018 authorizing the repurchase of up to 800,000 shares of our common stock from time to time on the open market or in privately-negotiated transactions as permitted under the Securities Exchange Act of 1934 Rule 10b-18. The number of shares to be repurchased and the timing of such transactions will depend on a variety of factors, including market conditions. This share repurchase program is expected to be completed by December 31, 2018.

Performance Graph

The following performance graph compares the cumulative total return to holders of our common stock with the cumulative total return of the following Standard & Poor's (“S&P”) indices, for the five years ended December 31, 2017: 500, MidCap 400 Index and 400 Health Care Equipment & Supplies Industry.

Cumulative total return to shareholders is measured by dividing total dividends (assuming dividend reinvestment) plus the per-share price change for the period by the share price at the beginning of the period. The Company's cumulative shareholder return is based on an investment of $100 on December 31, 2012 and is compared to the cumulative total return of the S&P indices mentioned above over the period with a like amount invested.

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