UFP Technologies (NASDAQ:UFPT) Stock Price Up 11.7%

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) shares rose 11.7% during trading on Wednesday . The company traded as high as $233.66 and last traded at $230.03. Approximately 9,662 shares changed hands during trading, a decline of 85% from the average daily volume of 62,793 shares. The stock had previously closed at $205.94.

Analyst Ratings Changes

Several research analysts have recently issued reports on UFPT shares. StockNews.com upgraded shares of UFP Technologies from a "sell" rating to a "hold" rating in a report on Thursday, February 22nd. KeyCorp assumed coverage on UFP Technologies in a research note on Tuesday, February 6th. They issued a "sector weight" rating on the stock. Finally, CJS Securities initiated coverage on UFP Technologies in a research note on Wednesday, March 20th. They set an "outperform" rating and a $255.00 target price for the company.

UFP Technologies Stock Up 14.5 %

The stock has a fifty day moving average of $221.72 and a 200-day moving average of $185.61. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 40.53 and a beta of 0.83. The company has a current ratio of 2.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.10.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.41. The firm had revenue of $101.50 million for the quarter, compared to the consensus estimate of $94.80 million. UFP Technologies had a return on equity of 25.48% and a net margin of 11.23%. As a group, sell-side analysts expect that UFP Technologies, Inc. will post 6.19 EPS for the current year.

Insiders Place Their Bets

In related news, VP Steve Cardin sold 311 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $196.50, for a total transaction of $61,111.50. Following the completion of the sale, the vice president now directly owns 5,643 shares in the company, valued at $1,108,849.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Steve Cardin sold 311 shares of UFP Technologies stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $196.50, for a total transaction of $61,111.50. Following the completion of the sale, the vice president now owns 5,643 shares of the company's stock, valued at $1,108,849.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO R Jeffrey Bailly sold 27,090 shares of the business's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $209.48, for a total value of $5,674,813.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,125 shares of company stock worth $6,511,420. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UFP Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UFPT. BNP Paribas Financial Markets grew its position in UFP Technologies by 20.9% in the first quarter. BNP Paribas Financial Markets now owns 4,224 shares of the industrial products company's stock worth $1,065,000 after acquiring an additional 731 shares in the last quarter. Peterson Wealth Services boosted its holdings in UFP Technologies by 182.5% in the first quarter. Peterson Wealth Services now owns 3,356 shares of the industrial products company's stock worth $846,000 after purchasing an additional 2,168 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in UFP Technologies in the first quarter worth $430,000. Norden Group LLC increased its position in UFP Technologies by 41.7% during the first quarter. Norden Group LLC now owns 2,844 shares of the industrial products company's stock worth $717,000 after buying an additional 837 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in UFP Technologies by 161.9% during the first quarter. Assenagon Asset Management S.A. now owns 12,562 shares of the industrial products company's stock valued at $3,168,000 after buying an additional 7,766 shares in the last quarter. Institutional investors own 87.28% of the company's stock.

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.