UFP Technologies (NASDAQ:UFPT) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• UFP Technologies shares moved above their 200-day moving average, reaching $288.44 and closing around $285.20 versus the $241.88 average.
• The company beat quarterly expectations, reporting EPS of $2.92 versus the $2.31 consensus and revenue of $173.96 million versus $159.38 million expected.
• Analyst sentiment remains cautious, with an overall “Hold” rating despite one research firm upgrading the stock to “Buy.” Insiders have sold 25,919 shares worth approximately $8.17 million over the past 90 days.

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $241.88 and traded as high as $288.44. UFP Technologies shares last traded at $285.20, with a volume of 91,734 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of UFP Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of UFP Technologies from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

UFP Technologies Stock Performance

The company has a current ratio of 3.00, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 30.73 and a beta of 1.08. The stock's 50 day moving average price is $285.39 and its 200 day moving average price is $241.88.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.61. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. The company had revenue of $173.96 million during the quarter, compared to analysts' expectations of $159.38 million. On average, analysts expect that UFP Technologies, Inc. will post 10.54 EPS for the current fiscal year.

Insider Buying and Selling at UFP Technologies

In other UFP Technologies news, Director Marc D. Kozin sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $304.50, for a total value of $2,131,500.00. Following the completion of the transaction, the director owned 21,112 shares in the company, valued at $6,428,604. This represents a 24.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Symeria Hudson sold 298 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $319.11, for a total transaction of $95,094.78. Following the sale, the director directly owned 927 shares of the company's stock, valued at approximately $295,814.97. The trade was a 24.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,919 shares of company stock valued at $8,173,084 in the last ninety days. Corporate insiders own 4.59% of the company's stock.

Institutional Trading of UFP Technologies

Several institutional investors have recently added to or reduced their stakes in UFPT. Bank of America Corp DE boosted its holdings in shares of UFP Technologies by 20.7% during the first quarter. Bank of America Corp DE now owns 54,732 shares of the industrial products company's stock valued at $10,596,000 after acquiring an additional 9,404 shares during the period. Rice Hall James & Associates LLC increased its stake in shares of UFP Technologies by 110.0% during the first quarter. Rice Hall James & Associates LLC now owns 21,211 shares of the industrial products company's stock valued at $4,106,000 after acquiring an additional 11,111 shares during the period. De Lisle Partners LLP acquired a new stake in UFP Technologies in the second quarter worth approximately $19,677,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in UFP Technologies in the second quarter worth approximately $14,629,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in UFP Technologies in the second quarter worth approximately $989,000. 87.28% of the stock is owned by institutional investors and hedge funds.

About UFP Technologies

UFP Technologies, Inc is a designer and contract manufacturer of comprehensive solutions for the medical device industry. The company works with medical technology companies to develop and produce components, subassemblies, finished devices, and sterile or non-sterile packaging used in surgical, diagnostic, therapeutic, and other healthcare applications.

Its capabilities include product development and engineering, precision machining, injection molding, thermoforming, textile fabrication, bonding, assembly, and packaging.

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