Goldman Sachs Group Inc. Cuts Stake in UFP Technologies, Inc. $UFPT

Key Points

• Goldman Sachs Group Inc. reduced its stake in UFP Technologies by 28.6% in Q1, owning about 24,551 shares valued at $4.95 million.
• UFP Technologies reported a quarterly EPS of $2.50, beating estimates by $0.25, with year-over-year revenue growth of 37.2%.
• Analysts currently rate UFP Technologies as a "Moderate Buy", with a price target increased to $289.00 from $252.00.

Goldman Sachs Group Inc. lessened its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 28.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,551 shares of the industrial products company's stock after selling 9,816 shares during the period. Goldman Sachs Group Inc. owned about 0.32% of UFP Technologies worth $4,952,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of UFPT. State of Wyoming raised its stake in UFP Technologies by 34.7% in the 1st quarter. State of Wyoming now owns 365 shares of the industrial products company's stock worth $74,000 after purchasing an additional 94 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of UFP Technologies during the 4th quarter valued at approximately $84,000. Park Square Financial Group LLC bought a new stake in UFP Technologies during the 4th quarter worth approximately $107,000. Jones Financial Companies Lllp bought a new stake in UFP Technologies during the 1st quarter worth approximately $172,000. Finally, CreativeOne Wealth LLC bought a new stake in UFP Technologies during the 1st quarter worth approximately $203,000. Institutional investors own 87.28% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upped their price objective 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 research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $289.00.

UFP Technologies Price Performance

UFPT traded down $8.83 on Friday, reaching $192.77. The company had a trading volume of 285,073 shares, compared to its average volume of 102,327. The business has a 50 day simple moving average of $218.80 and a 200 day simple moving average of $222.19. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 22.34 and a beta of 1.20. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.77. UFP Technologies, Inc. has a 52-week low of $178.26 and a 52-week high of $366.41.

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

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.