EVR Research LP Sells 3,177 Shares of UFP Technologies, Inc. $UFPT

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

Other institutional investors have also recently modified their holdings of the company. Congress Asset Management Co. increased its stake in shares of UFP Technologies by 10.0% in the 1st quarter. Congress Asset Management Co. now owns 309,395 shares of the industrial products company's stock valued at $62,408,000 after purchasing an additional 28,070 shares during the last quarter. American Century Companies Inc. increased its stake in shares of UFP Technologies by 1,858.2% in the 1st quarter. American Century Companies Inc. now owns 287,588 shares of the industrial products company's stock valued at $58,010,000 after purchasing an additional 272,902 shares during the last quarter. Boston Trust Walden Corp increased its stake in shares of UFP Technologies by 98.4% in the 1st quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock valued at $43,196,000 after purchasing an additional 106,197 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of UFP Technologies by 55.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock valued at $43,625,000 after purchasing an additional 63,899 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of UFP Technologies by 1.9% in the 1st quarter. Invesco Ltd. now owns 178,174 shares of the industrial products company's stock valued at $35,939,000 after purchasing an additional 3,313 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors.

UFP Technologies Stock Down 1.1%

Shares of NASDAQ:UFPT opened at $218.43 on Wednesday. The company has a market capitalization of $1.68 billion, a PE ratio of 25.31 and a beta of 1.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.77 and a quick ratio of 1.53. The business has a fifty day moving average price of $233.20 and a two-hundred day moving average price of $227.34. UFP Technologies, Inc. has a 1 year low of $178.26 and a 1 year high of $366.41.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its 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. The firm had revenue of $151.18 million for the quarter, compared to analyst estimates of $151.55 million. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%.The business's revenue was up 37.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 earnings per share.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital increased their price target on UFP Technologies from $252.00 to $289.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

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