UFP Technologies (NASDAQ:UFPT) Sees Large Volume Increase - Still a Buy?

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) saw unusually-high trading volume on Monday . Approximately 184,129 shares were traded during trading, an increase of 127% from the previous session's volume of 81,005 shares.The stock last traded at $203.23 and had previously closed at $202.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Lake Street Capital set a $252.00 price target on shares of UFP Technologies and gave the stock a "buy" rating in a report on Wednesday. Raymond James began coverage on shares of UFP Technologies in a research note on Friday, March 28th. They set a "market perform" rating on the stock. Finally, StockNews.com lowered shares of UFP Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd.

UFP Technologies Stock Up 2.5 %

The stock has a fifty day simple moving average of $207.97 and a two-hundred day simple moving average of $251.59. The firm has a market cap of $1.74 billion, a PE ratio of 32.13 and a beta of 1.10. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.42. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The business had revenue of $148.15 million for the quarter, compared to analyst estimates of $139.93 million.

Insider Buying and Selling

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the sale, the director now owns 1,785 shares of the company's stock, valued at $407,711.85. This trade represents a 79.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. AlphaQuest LLC purchased a new position in UFP Technologies in the 4th quarter worth approximately $25,000. Johnson Financial Group Inc. bought a new position in UFP Technologies in the fourth quarter valued at $42,000. Venturi Wealth Management LLC purchased a new stake in UFP Technologies during the fourth quarter valued at about $74,000. EverSource Wealth Advisors LLC lifted its stake in UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock worth $81,000 after purchasing an additional 66 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of UFP Technologies in the 4th quarter worth about $84,000. Hedge funds and other 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.