Vanguard Group Inc. Has $105.32 Million Holdings in 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. lowered its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 522,152 shares of the industrial products company's stock after selling 35,327 shares during the period. Vanguard Group Inc. owned approximately 6.78% of UFP Technologies worth $105,323,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Johnson Financial Group Inc. bought a new stake in shares of UFP Technologies in the 4th quarter worth approximately $42,000. Lazard Asset Management LLC bought a new stake in UFP Technologies during the fourth quarter valued at about $84,000. Park Square Financial Group LLC bought a new position in shares of UFP Technologies in the fourth quarter worth about $107,000. Canada Pension Plan Investment Board boosted its stake in shares of UFP Technologies by 25.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 500 shares of the industrial products company's stock worth $122,000 after acquiring an additional 100 shares during the period. Finally, Dakota Wealth Management bought a new position in UFP Technologies during the first quarter valued at approximately $204,000. Hedge funds and other institutional investors own 87.28% of the company's stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital increased their price objective 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.00.

UFP Technologies Stock Performance

NASDAQ:UFPT traded down $4.12 during mid-day trading on Wednesday, reaching $214.31. The stock had a trading volume of 24,682 shares, compared to its average volume of 134,655. The business has a 50 day simple moving average of $233.20 and a 200 day simple moving average of $227.34. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. 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 capitalization of $1.65 billion, a price-to-earnings ratio of 24.83 and a beta of 1.14.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $151.55 million. During the same period in the previous year, the firm posted $1.86 EPS. UFP Technologies's revenue was up 37.2% on a year-over-year basis.

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.