UFP Technologies (NASDAQ:UFPT) Stock Price Down 10.6% - Should You 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) was down 10.6% on Wednesday . The stock traded as low as $214.20 and last traded at $215.33. Approximately 142,912 shares were traded during trading, an increase of 4% from the average daily volume of 136,861 shares. The stock had previously closed at $240.75.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lifted their price target on 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 has a market capitalization of $1.65 billion, a P/E ratio of 24.75 and a beta of 1.14. The company has a quick ratio of 1.45, a current ratio of 2.58 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average price of $238.69 and a 200-day moving average price of $233.07.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly 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. The firm had revenue of $151.18 million for the quarter, compared to the consensus estimate of $151.55 million. UFP Technologies had a return on equity of 22.19% and a net margin of 11.40%. The company's quarterly revenue was up 37.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.86 earnings per share.

Insider Buying and Selling

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,473 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $220.12, for a total value of $324,236.76. Following the completion of the sale, the senior vice president owned 12,585 shares in the company, valued at $2,770,210.20. This represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional Trading of UFP Technologies

Several institutional investors have recently made changes to their positions in UFPT. EFG Asset Management North America Corp. raised its position in shares of UFP Technologies by 15.3% in the 2nd quarter. EFG Asset Management North America Corp. now owns 16,330 shares of the industrial products company's stock worth $3,990,000 after acquiring an additional 2,168 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of UFP Technologies by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,170 shares of the industrial products company's stock worth $10,540,000 after acquiring an additional 832 shares in the last quarter. Bank of Montreal Can raised its position in shares of UFP Technologies by 6.7% in the 2nd quarter. Bank of Montreal Can now owns 1,226 shares of the industrial products company's stock worth $299,000 after acquiring an additional 77 shares in the last quarter. Geneva Capital Management LLC grew its stake in UFP Technologies by 6.0% during the 2nd quarter. Geneva Capital Management LLC now owns 84,035 shares of the industrial products company's stock worth $20,518,000 after buying an additional 4,769 shares during the last quarter. Finally, Motley Fool Wealth Management LLC purchased a new position in UFP Technologies during the 2nd quarter worth $5,194,000. 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.

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