EFG Asset Management North America Corp. Acquires 5,625 Shares of UFP Technologies, Inc. $UFPT

Key Points

• EFG Asset Management North America Corp. increased its stake in UFP Technologies, Inc. by 65.9%, now owning 14,162 shares valued at approximately $2.86 million.
• Lake Street Capital has raised its target price for UFP Technologies from $252 to $289, maintaining a "buy" rating for the stock.
• UFP Technologies reported a $2.50 EPS for the last quarter, surpassing expectations, with revenue increasing by 37.2% year-over-year to $151.18 million.

EFG Asset Management North America Corp. raised its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 65.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,162 shares of the industrial products company's stock after acquiring an additional 5,625 shares during the quarter. EFG Asset Management North America Corp. owned approximately 0.18% of UFP Technologies worth $2,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Congress Asset Management Co. boosted its stake in UFP Technologies by 10.0% in the first quarter. Congress Asset Management Co. now owns 309,395 shares of the industrial products company's stock valued at $62,408,000 after acquiring an additional 28,070 shares during the last quarter. American Century Companies Inc. boosted its stake in UFP Technologies by 1,858.2% in the first quarter. American Century Companies Inc. now owns 287,588 shares of the industrial products company's stock valued at $58,010,000 after acquiring an additional 272,902 shares during the last quarter. Boston Trust Walden Corp boosted its stake in UFP Technologies by 98.4% in the first quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock valued at $43,196,000 after acquiring an additional 106,197 shares during the last quarter. Invesco Ltd. boosted its stake in UFP Technologies by 1.9% in the first quarter. Invesco Ltd. now owns 178,174 shares of the industrial products company's stock valued at $35,939,000 after acquiring an additional 3,313 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in UFP Technologies by 28.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 132,571 shares of the industrial products company's stock valued at $26,741,000 after acquiring an additional 28,997 shares during the last quarter. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

UFP Technologies Stock Performance

Shares of NASDAQ UFPT traded down $1.50 during midday trading on Monday, hitting $205.79. The company's stock had a trading volume of 131,343 shares, compared to its average volume of 133,552. The stock has a fifty day moving average price of $228.10 and a 200 day moving average price of $224.35. UFP Technologies, Inc. has a one year low of $178.26 and a one year high of $366.41. The company has a current ratio of 2.77, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 23.85 and a beta of 1.20.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.25. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%. The company had revenue of $151.18 million for the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the previous year, the firm posted $1.86 earnings per share. The company's quarterly revenue was up 37.2% compared to the same quarter last year.

Analysts Set New Price Targets

Separately, Lake Street Capital boosted their target price on shares of UFP Technologies from $252.00 to $289.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, UFP Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.00.

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.