UFP Technologies (NASDAQ:UFPT) Trading Down 10.6% - Time to Sell?

Key Points

• UFP Technologies' stock price fell 10.6% on Wednesday, trading between $214.20 and $215.33, after previously closing at $240.75.
• Lake Street Capital raised its price target for UFP Technologies from $252.00 to $289.00 and maintained a "buy" rating.
• The company reported earnings of $2.50 per share for the last quarter, exceeding analyst expectations of $2.25, with revenues showing a 37.2% year-over-year increase.

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report)'s share price fell 10.6% during mid-day trading on Wednesday . The company traded as low as $214.20 and last traded at $215.33. 142,912 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 136,861 shares. The stock had previously closed at $240.75.

Analysts Set New Price Targets

Separately, Lake Street Capital boosted their target price on shares of UFP Technologies from $252.00 to $289.00 and gave the company a "buy" rating in a research report on Wednesday.

UFP Technologies Stock Performance

The stock's 50-day moving average price is $237.27 and its 200-day moving average price is $231.57. The company has a market cap of $1.58 billion, a P/E ratio of 23.82 and a beta of 1.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.77 and a quick ratio of 1.53.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its earnings results on Monday, August 4th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.25. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%. The company had revenue of $151.18 million during the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the previous year, the business posted $1.86 earnings per share. UFP Technologies's quarterly revenue was up 37.2% on a year-over-year basis.

Institutional Investors Weigh In On UFP Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in UFP Technologies by 7.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,880 shares of the industrial products company's stock worth $459,000 after purchasing an additional 135 shares during the period. Calamos Advisors LLC lifted its position in UFP Technologies by 91.3% during the second quarter. Calamos Advisors LLC now owns 3,921 shares of the industrial products company's stock worth $957,000 after purchasing an additional 1,871 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its position in UFP Technologies by 7.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,679 shares of the industrial products company's stock worth $410,000 after purchasing an additional 122 shares during the period. Geode Capital Management LLC lifted its position in UFP Technologies by 3.3% during the second quarter. Geode Capital Management LLC now owns 186,090 shares of the industrial products company's stock worth $45,441,000 after purchasing an additional 5,917 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in UFP Technologies by 179.0% during the second quarter. PNC Financial Services Group Inc. now owns 173 shares of the industrial products company's stock worth $42,000 after purchasing an additional 111 shares during the period. 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.