UFP Technologies (NASDAQ:UFPT) Hits New 12-Month High at $346.25

UFP Technologies, Inc. (NASDAQ:UFPT) shares hit a new 52-week high on Wednesday . The stock traded as high as $346.25 and last traded at $346.25, with a volume of 26827 shares. The stock had previously closed at $330.34.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital boosted their price target on UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th.

UFP Technologies Stock Performance

The company has a market cap of $2.59 billion, a PE ratio of 53.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13. The stock’s 50-day simple moving average is $319.29 and its 200 day simple moving average is $270.68.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.86 EPS for the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%. The firm had revenue of $110.18 million during the quarter.

Insider Activity

In related news, CFO Ronald J. Lataille sold 11,466 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the transaction, the chief financial officer now owns 46,130 shares of the company’s stock, valued at $13,915,114.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Ronald J. Lataille sold 1,598 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $319.37, for a total value of $510,353.26. Following the completion of the sale, the chief financial officer now owns 57,596 shares in the company, valued at $18,394,434.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald J. Lataille sold 11,466 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the transaction, the chief financial officer now owns 46,130 shares in the company, valued at $13,915,114.50. The disclosure for this sale can be found here. Insiders sold 68,134 shares of company stock valued at $21,494,247 in the last three months. 6.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UFP Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Securities Inc. purchased a new position in UFP Technologies in the 4th quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its position in shares of UFP Technologies by 1,614.3% in the first quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in shares of UFP Technologies during the 1st quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of UFP Technologies during the 2nd quarter worth $36,000. Finally, Rothschild Investment LLC purchased a new stake in shares of UFP Technologies in the 2nd quarter worth about $195,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

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.