Core Insights - Conestoga Capital Advisors reported that equity markets reached new all-time highs in Q3 2025, but their Smid Cap Composite underperformed the Russell 2500 Growth Index, returning -1.1% net-of-fees compared to the index's +10.7% [1] - The stock market rally that began in April continued with a narrow and "low quality" leadership, which became more pronounced in the third quarter [1] Company Highlights: West Pharmaceutical Services, Inc. (NYSE:WST) - West Pharmaceutical Services, Inc. specializes in designing, manufacturing, and selling containment and delivery systems for injectable drugs and healthcare products, with a one-month return of 6.18% and a 52-week loss of 5.31% [2] - As of October 17, 2025, West Pharmaceutical's stock closed at $270.60 per share, with a market capitalization of $19.458 billion [2] - The company experienced strong growth driven by normalized demand for biologics and injectable therapies, leading to margin expansion and new revenue opportunities through innovation in drug delivery systems [3] Investment Sentiment - West Pharmaceutical Services, Inc. was held by 46 hedge fund portfolios at the end of Q2 2025, an increase from 40 in the previous quarter, indicating growing interest among institutional investors [4] - Despite the potential of West Pharmaceutical as an investment, there is a belief that certain AI stocks may offer greater upside potential with less downside risk [4]