UFP Technologies, Inc. $UFPT Shares Sold by EVR Research LP

Key Points

• EVR Research LP reduced its stake in UFP Technologies by 17.7%, selling 3,177 shares, and now holds approximately $2.99 million in the company, making it only 0.8% of its portfolio.
• UFP Technologies reported a quarterly EPS of $2.50, surpassing estimates by $0.25, with revenue up 37.2% year-over-year, although slightly below analyst expectations.
• Lake Street Capital upgraded UFP Technologies' price target from $252 to $289, maintaining a "buy" rating, while the stock currently enjoys a consensus rating of "Moderate Buy."

EVR Research LP lowered its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 17.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,823 shares of the industrial products company's stock after selling 3,177 shares during the quarter. UFP Technologies comprises 0.8% of EVR Research LP's investment portfolio, making the stock its 20th biggest holding. EVR Research LP owned about 0.19% of UFP Technologies worth $2,990,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Congress Asset Management Co. grew its stake in UFP Technologies by 10.0% during the 1st quarter. Congress Asset Management Co. now owns 309,395 shares of the industrial products company's stock worth $62,408,000 after buying an additional 28,070 shares during the last quarter. American Century Companies Inc. grew its stake in UFP Technologies by 1,858.2% during the 1st quarter. American Century Companies Inc. now owns 287,588 shares of the industrial products company's stock worth $58,010,000 after buying an additional 272,902 shares during the last quarter. Boston Trust Walden Corp grew its stake in UFP Technologies by 98.4% during the 1st quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock worth $43,196,000 after buying an additional 106,197 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in UFP Technologies by 55.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock worth $43,625,000 after buying an additional 63,899 shares during the last quarter. Finally, Invesco Ltd. grew its stake in UFP Technologies by 1.9% during the 1st quarter. Invesco Ltd. now owns 178,174 shares of the industrial products company's stock worth $35,939,000 after buying an additional 3,313 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company's stock.

UFP Technologies Stock Performance

UFP Technologies stock traded down $1.13 during mid-day trading on Monday, reaching $210.16. 91,055 shares of the company were exchanged, compared to its average volume of 120,804. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The firm's 50-day simple moving average is $231.62 and its two-hundred day simple moving average is $226.18. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.77. The firm has a market cap of $1.62 billion, a PE ratio of 24.35 and a beta of 1.20.

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

Analysts Set New Price Targets

Separately, Lake Street Capital raised their price target on UFP Technologies from $252.00 to $289.00 and gave the stock 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 given a Hold rating to the stock. According to MarketBeat, UFP Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $289.00.

UFP Technologies 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.