UFP Technologies (NASDAQ:UFPT) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of UFP Technologies (NASDAQ:UFPT) from a sell rating to a hold rating in a research report report published on Tuesday.

UFP Technologies Stock Performance

Shares of UFP Technologies stock opened at $252.00 on Tuesday. The firm has a 50 day simple moving average of $294.45 and a 200 day simple moving average of $301.65. UFP Technologies has a fifty-two week low of $152.43 and a fifty-two week high of $366.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The firm has a market cap of $1.93 billion, a P/E ratio of 35.95 and a beta of 0.99.

Insider Activity at UFP Technologies

In other news, CEO R Jeffrey Bailly sold 12,533 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $346.46, for a total value of $4,342,183.18. Following the transaction, the chief executive officer now owns 31,194 shares of the company’s stock, valued at $10,807,473.24. This represents a 28.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cynthia L. Feldmann sold 647 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $352.30, for a total value of $227,938.10. Following the completion of the transaction, the director now owns 4,049 shares in the company, valued at $1,426,462.70. This represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,326 shares of company stock worth $4,620,154 over the last 90 days. Insiders own 6.17% of the company’s stock.

Institutional Trading of UFP Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP boosted its stake in UFP Technologies by 65.4% during the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock worth $133,188,000 after acquiring an additional 166,262 shares during the last quarter. State Street Corp boosted its position 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 in the last quarter. Congress Asset Management Co. grew its holdings in shares of UFP Technologies by 0.4% in the 3rd quarter. Congress Asset Management Co. now owns 246,303 shares of the industrial products company’s stock valued at $78,004,000 after buying an additional 986 shares during the period. Geode Capital Management LLC increased its position in shares of UFP Technologies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 172,996 shares of the industrial products company’s stock valued at $54,799,000 after buying an additional 3,333 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in UFP Technologies by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 105,118 shares of the industrial products company’s stock worth $27,737,000 after buying an additional 2,699 shares during the period. 87.28% of the stock is owned by 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.