UFP Technologies (NASDAQ:UFPT) Shares Gap Up on Better-Than-Expected Earnings

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $240.94, but opened at $255.00. UFP Technologies shares last traded at $257.85, with a volume of 15,176 shares traded.

The industrial products company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.45. The firm had revenue of $144.07 million during the quarter, compared to the consensus estimate of $141.67 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

Analyst Ratings Changes

Separately, StockNews.com downgraded UFP Technologies from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd.

Hedge Funds Weigh In On UFP Technologies

Hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP raised its stake in UFP Technologies by 37.1% during the 4th quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company’s stock valued at $141,007,000 after purchasing an additional 156,142 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of UFP Technologies by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company’s stock worth $136,309,000 after acquiring an additional 17,356 shares in the last quarter. State Street Corp grew its holdings in shares of UFP Technologies by 1.4% during the third quarter. State Street Corp now owns 283,460 shares of the industrial products company’s stock worth $89,772,000 after purchasing an additional 4,007 shares during the last quarter. Congress Asset Management Co. grew its holdings in UFP Technologies by 14.2% during the 4th quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock worth $68,787,000 after acquiring an additional 35,022 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of UFP Technologies by 55.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company’s stock valued at $43,625,000 after purchasing an additional 63,899 shares in the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

UFP Technologies Price Performance

The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 37.59 and a beta of 1.04. The company has a 50 day moving average price of $257.78 and a 200 day moving average price of $291.72.

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.