UFP Technologies (NASDAQ:UFPT) Trading Down 3.5%

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price traded down 3.5% on Tuesday . The stock traded as low as $335.91 and last traded at $335.91. 12,699 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 58,842 shares. The stock had previously closed at $348.12.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upped their target price on UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th.

UFP Technologies Stock Performance

The stock has a market cap of $2.57 billion, a PE ratio of 55.97 and a beta of 0.94. The firm’s 50-day moving average is $322.89 and its 200 day moving average is $274.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13.

UFP Technologies (NASDAQ:UFPT) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share for the quarter. The business had revenue of $110.18 million during the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%.

Insider Transactions at UFP Technologies

In related news, CFO Ronald J. Lataille sold 11,466 shares of UFP Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total value of $3,458,718.90. Following the transaction, the chief financial officer now directly owns 46,130 shares in the company, valued at approximately $13,915,114.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Ronald J. Lataille sold 11,466 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total value of $3,458,718.90. Following the completion of the sale, the chief financial officer now owns 46,130 shares in the company, valued at $13,915,114.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ronald J. Lataille sold 1,598 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $319.37, for a total value of $510,353.26. Following the transaction, the chief financial officer now owns 57,596 shares in the company, valued at approximately $18,394,434.52. The disclosure for this sale can be found here. Insiders sold 68,134 shares of company stock worth $21,494,247 over the last 90 days. 6.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UFP Technologies

Several institutional investors have recently made changes to their positions in UFPT. Principal Securities Inc. acquired a new stake in shares of UFP Technologies in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of UFP Technologies by 1,614.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 113 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of UFP Technologies during the 1st quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in UFP Technologies in the 2nd quarter valued at approximately $36,000. Finally, Rothschild Investment LLC acquired a new position in UFP Technologies during the second quarter worth $195,000. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

About UFP Technologies

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.