UFP Technologies (NASDAQ:UFPT) Upgraded to Hold at StockNews.com

UFP Technologies (NASDAQ:UFPT – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other equities research analysts also recently weighed in on the company. Lake Street Capital raised their price objective on UFP Technologies from $131.00 to $171.00 in a report on Wednesday, May 3rd. VNET Group reiterated a “maintains” rating on shares of UFP Technologies in a research report on Wednesday, May 3rd.

UFP Technologies Trading Down 1.2 %

Shares of UFPT opened at $151.63 on Friday. UFP Technologies has a 52-week low of $71.83 and a 52-week high of $157.96. The business’s fifty day moving average is $136.14 and its 200-day moving average is $122.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 2.43. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 24.86 and a beta of 0.78.

UFP Technologies (NASDAQ:UFPT – Get Rating) last released its quarterly earnings data on Tuesday, March 7th. The industrial products company reported $1.10 earnings per share for the quarter. UFP Technologies had a return on equity of 23.36% and a net margin of 12.27%. The company had revenue of $91.24 million for the quarter.

Insider Buying and Selling at UFP Technologies

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,624 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $146.70, for a total value of $238,240.80. Following the transaction, the senior vice president now directly owns 14,214 shares of the company’s stock, valued at $2,085,193.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other UFP Technologies news, CFO Ronald J. Lataille sold 7,354 shares of UFP Technologies stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $142.06, for a total value of $1,044,709.24. Following the sale, the chief financial officer now owns 55,123 shares of the company’s stock, valued at $7,830,773.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Christopher P. Litterio sold 1,624 shares of UFP Technologies stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $146.70, for a total transaction of $238,240.80. Following the completion of the transaction, the senior vice president now owns 14,214 shares of the company’s stock, valued at approximately $2,085,193.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,758 shares of company stock valued at $3,557,125. Corporate insiders own 10.24% of the company’s stock.

Hedge Funds Weigh In On UFP Technologies

Several large investors have recently modified their holdings of UFPT. Macquarie Group Ltd. purchased a new position in shares of UFP Technologies in the fourth quarter worth about $34,000. Lazard Asset Management LLC grew its stake in UFP Technologies by 169.2% during the third quarter. Lazard Asset Management LLC now owns 428 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 269 shares in the last quarter. Dorsey Wright & Associates purchased a new position in UFP Technologies during the fourth quarter valued at approximately $40,000. Point72 Asset Management L.P. purchased a new position in UFP Technologies during the fourth quarter valued at approximately $43,000. Finally, Citigroup Inc. grew its stake in UFP Technologies by 121.3% during the fourth quarter. Citigroup Inc. now owns 394 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 80.34% of the company’s stock.

About UFP Technologies

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UFP Technologies, Inc engages in designing and custom manufacturing of components, subassemblies, products and packaging utilizing specialized foams, films, and plastics primarily for the medical market. The firm manufactures its products by converting raw materials using laminating, molding, radio frequency and impulse welding and fabricating manufacturing techniques. �It’s single-use and single-patient devices and components are used in a wide range of medical devices, disposable wound care products, infection prevention, minimally invasive surgery, wearables, orthopedic soft goods, and orthopedic implant packaging.