UFP Technologies (NASDAQ:UFPT) Shares Down 3.2% – Here’s What Happened

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price traded down 3.2% during mid-day trading on Friday . The company traded as low as $283.35 and last traded at $283.35. 17,223 shares were traded during mid-day trading, a decline of 71% from the average session volume of 58,738 shares. The stock had previously closed at $292.57.

Wall Street Analyst Weigh In

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

UFP Technologies Stock Performance

The stock’s 50-day simple moving average is $321.71 and its 200 day simple moving average is $281.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13. The company has a market capitalization of $2.21 billion, a PE ratio of 46.42 and a beta of 0.93.

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

Insider Activity

In related news, CFO Ronald J. Lataille sold 11,466 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO R Jeffrey Bailly sold 10,887 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $310.46, for a total value of $3,379,978.02. Following the completion of the transaction, the chief executive officer now owns 143,970 shares in the company, valued at $44,696,926.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ronald J. Lataille sold 11,466 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the completion of the transaction, the chief financial officer now owns 46,130 shares of the company’s stock, valued at $13,915,114.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,134 shares of company stock worth $21,494,247. Corporate insiders own 6.17% of the company’s stock.

Hedge Funds Weigh In On UFP Technologies

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of UFP Technologies by 1,614.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of UFP Technologies in the first quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in UFP Technologies during the second quarter valued at approximately $36,000. Rothschild Investment LLC acquired a new position in UFP Technologies during the second quarter valued at approximately $195,000. Finally, Dark Forest Capital Management LP acquired a new position in UFP Technologies during the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

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.