StockNews.com Initiates Coverage on UFP Technologies (NASDAQ:UFPT)

Research analysts at StockNews.com started coverage on shares of UFP Technologies (NASDAQ:UFPTGet Rating) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the industrial products company’s stock.

UFPT has been the subject of several other reports. Lake Street Capital raised their price objective on shares of UFP Technologies from $131.00 to $171.00 in a report on Wednesday, May 3rd. VNET Group reiterated a “maintains” rating on shares of UFP Technologies in a research note on Wednesday, May 3rd.

UFP Technologies Price Performance

Shares of UFPT stock opened at $147.64 on Thursday. The firm has a fifty day simple moving average of $132.12 and a 200-day simple moving average of $120.88. The company has a market capitalization of $1.12 billion, a PE ratio of 24.20 and a beta of 0.78. UFP Technologies has a twelve month low of $70.27 and a twelve month high of $152.52. The company has a current ratio of 2.43, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23.

UFP Technologies (NASDAQ:UFPTGet Rating) last posted its quarterly earnings data on Tuesday, March 7th. The industrial products company reported $1.10 earnings per share for the quarter. UFP Technologies had a net margin of 12.27% and a return on equity of 23.36%. The company had revenue of $91.24 million during the quarter.

Insider Transactions at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,624 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $146.70, for a total transaction of $238,240.80. Following the completion of the transaction, the senior vice president now directly owns 14,214 shares of the company’s stock, valued at $2,085,193.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas Oberdorf sold 4,200 shares of UFP Technologies stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $141.50, for a total value of $594,300.00. Following the sale, the director now directly owns 25,764 shares in the company, valued at approximately $3,645,606. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Christopher P. Litterio sold 1,624 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $146.70, for a total transaction of $238,240.80. Following the completion of the transaction, the senior vice president now owns 14,214 shares of the company’s stock, valued at approximately $2,085,193.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,702 shares of company stock worth $3,240,563. 10.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UFP Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Global Investments raised its stake in shares of UFP Technologies by 13.0% in the 4th quarter. Summit Global Investments now owns 7,800 shares of the industrial products company’s stock worth $920,000 after buying an additional 900 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in UFP Technologies in the third quarter worth about $413,000. Laurus Investment Counsel Inc. lifted its holdings in UFP Technologies by 32.4% in the 4th quarter. Laurus Investment Counsel Inc. now owns 14,450 shares of the industrial products company’s stock valued at $2,308,906,000 after acquiring an additional 3,540 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of UFP Technologies by 44.6% during the 3rd quarter. Bessemer Group Inc. now owns 135,483 shares of the industrial products company’s stock valued at $11,630,000 after purchasing an additional 41,765 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new position in shares of UFP Technologies in the 4th quarter worth approximately $523,000. 80.34% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Company Profile

(Get Rating)

UFP Technologies, Inc engages in designing and custom manufacturing of components, subassemblies, products and packaging utilizing specialized foams, films, and plastics primarily for the medical market. The firm manufactures its products by converting raw materials using laminating, molding, radio frequency and impulse welding and fabricating manufacturing techniques. �It’s single-use and single-patient devices and components are used in a wide range of medical devices, disposable wound care products, infection prevention, minimally invasive surgery, wearables, orthopedic soft goods, and orthopedic implant packaging.

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