Vanguard Group Inc. Sells 35,327 Shares of UFP Technologies, Inc. $UFPT

Key Points

• Vanguard Group Inc. reduced its stake in UFP Technologies by 6.3%, selling 35,327 shares and owning 522,152 shares by the end of the first quarter, representing a value of approximately $105.3 million.
• UFP Technologies reported a 37.2% year-over-year increase in revenue, with an EPS of $2.50 for the most recent quarter, exceeding analyst estimates.
• Analysts at Lake Street Capital have raised their target price for UFP Technologies from $252.00 to $289.00, maintaining a "buy" rating for the stock.

Vanguard Group Inc. decreased its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 522,152 shares of the industrial products company's stock after selling 35,327 shares during the quarter. Vanguard Group Inc. owned 6.78% of UFP Technologies worth $105,323,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of UFP Technologies in the 1st quarter valued at about $2,971,000. Farther Finance Advisors LLC grew its holdings in shares of UFP Technologies by 422.5% in the 1st quarter. Farther Finance Advisors LLC now owns 1,186 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 959 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of UFP Technologies by 12.5% in the 1st quarter. Fiera Capital Corp now owns 46,105 shares of the industrial products company's stock valued at $9,300,000 after acquiring an additional 5,105 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of UFP Technologies by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 40,274 shares of the industrial products company's stock valued at $8,124,000 after acquiring an additional 1,166 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of UFP Technologies by 25.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,033 shares of the industrial products company's stock valued at $208,000 after acquiring an additional 212 shares in the last quarter. Institutional investors own 87.28% of the company's stock.

UFP Technologies Stock Performance

UFPT stock traded down $3.28 during mid-day trading on Thursday, hitting $211.29. 88,862 shares of the company were exchanged, compared to its average volume of 121,408. The business has a 50 day simple moving average of $232.11 and a 200-day simple moving average of $226.90. 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 stock has a market capitalization of $1.63 billion, a PE ratio of 24.48 and a beta of 1.14. 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 quarterly earnings data on Monday, August 4th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.25. The firm had revenue of $151.18 million during 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 for the quarter was up 37.2% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share.

Wall Street Analyst Weigh In

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

About UFP Technologies

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.