UFP Technologies (NASDAQ:UFPT) Announces Quarterly Earnings Results, Beats Estimates By $0.39 EPS

Key Points

• UFP Technologies beat quarterly estimates: Earnings were $2.88 per share versus the $2.49 consensus, while revenue of $172.43 million topped expectations of $166.89 million.
• Shares fell $3.65 to $280.32 in Tuesday trading despite the earnings beat.
• Insiders sold 25,919 shares worth about $8.17 million over the last quarter; analysts’ consensus rating remains Hold.

UFP Technologies (NASDAQ:UFPT - Get Free Report) announced its earnings results on Tuesday. The industrial products company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.39, FiscalAI reports. The business had revenue of $172.43 million during the quarter, compared to analysts' expectations of $166.89 million. UFP Technologies had a return on equity of 18.42% and a net margin of 11.45%.

UFP Technologies Price Performance

Shares of NASDAQ UFPT traded down $3.65 during trading on Tuesday, hitting $280.32. The company had a trading volume of 152,336 shares, compared to its average volume of 180,212. The company has a market cap of $2.17 billion, a P/E ratio of 30.21 and a beta of 1.09. UFP Technologies has a 52 week low of $173.86 and a 52 week high of $338.71. The business's 50-day moving average is $291.23 and its 200 day moving average is $250.04. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 3.00.

Insider Buying and Selling

In other news, Director Marc D. Kozin sold 7,000 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $304.50, for a total transaction of $2,131,500.00. Following the sale, the director directly owned 21,112 shares of the company's stock, valued at $6,428,604. The trade was a 24.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman R. Bailly sold 5,013 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $317.87, for a total value of $1,593,482.31. Following the sale, the chairman directly owned 13,011 shares in the company, valued at $4,135,806.57. This trade represents a 27.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,919 shares of company stock worth $8,173,084 over the last quarter. 4.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

UFPT has been the topic of several research reports. Weiss Ratings upgraded shares of UFP Technologies from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of UFP Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

About UFP Technologies

UFP Technologies, Inc NASDAQ: UFPT is a designer and manufacturer of engineered components, assemblies and packaging solutions, with a primary focus on the medical device and healthcare markets. The company works with original equipment manufacturers and other customers to develop products used in surgical, orthopedic, diagnostic, wound-care and other medical applications.

Its capabilities include converting and fabricating advanced materials such as foams, films, laminates, textiles and composites, as well as molding plastics and producing complex assembled products.

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