Farther Finance Advisors LLC Boosts Stake in UFP Technologies, Inc. $UFPT

Farther Finance Advisors LLC increased its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 28.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,519 shares of the industrial products company’s stock after purchasing an additional 333 shares during the period. Farther Finance Advisors LLC’s holdings in UFP Technologies were worth $371,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State of Wyoming boosted its position in shares of UFP Technologies by 34.7% during the 1st quarter. State of Wyoming now owns 365 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 94 shares during the period. Jones Financial Companies Lllp acquired a new stake in UFP Technologies during the 1st quarter worth approximately $172,000. CreativeOne Wealth LLC acquired a new stake in UFP Technologies during the 1st quarter worth approximately $203,000. Dakota Wealth Management acquired a new stake in UFP Technologies during the 1st quarter worth approximately $204,000. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in UFP Technologies by 25.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,033 shares of the industrial products company’s stock worth $208,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Analyst Ratings Changes

Separately, Lake Street Capital increased their target price on shares of UFP Technologies from $252.00 to $289.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $289.00.

UFP Technologies Price Performance

Shares of UFPT opened at $193.54 on Monday. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $354.22. The firm’s fifty day simple moving average is $214.93 and its 200-day simple moving average is $221.57. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 22.43 and a beta of 1.20. The company has a current ratio of 2.77, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Monday, August 4th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.25. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%. The business had revenue of $151.18 million for the quarter, compared to analyst estimates of $151.55 million. During the same period last year, the business earned $1.86 EPS. The company’s revenue was up 37.2% on a year-over-year basis.

UFP Technologies Company Profile

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.