UFP Technologies (NASDAQ:UFPT) Trading Up 2.5% – Should You Buy?

UFP Technologies, Inc. (NASDAQ:UFPT) shares were up 2.5% on Wednesday . The stock traded as high as $247.91 and last traded at $247.91. Approximately 20,248 shares were traded during trading, a decline of 71% from the average daily volume of 70,498 shares. The stock had previously closed at $241.92.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Tuesday.

UFP Technologies Price Performance

The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 34.51 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The business’s fifty day moving average price is $283.56 and its 200-day moving average price is $300.33.

Insider Activity

In other UFP Technologies news, CEO R Jeffrey Bailly sold 12,533 shares of UFP Technologies stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $346.46, for a total transaction of $4,342,183.18. Following the transaction, the chief executive officer now directly owns 31,194 shares of the company’s stock, valued at approximately $10,807,473.24. This trade represents a 28.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jason Holt sold 146 shares of UFP Technologies stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $342.69, for a total transaction of $50,032.74. Following the transaction, the vice president now directly owns 6,721 shares in the company, valued at $2,303,219.49. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,326 shares of company stock worth $4,620,154. 6.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its holdings in UFP Technologies by 1.9% in the second quarter. Arizona State Retirement System now owns 2,032 shares of the industrial products company’s stock valued at $536,000 after acquiring an additional 38 shares in the last quarter. GAMMA Investing LLC boosted its holdings in UFP Technologies by 77.9% in the third quarter. GAMMA Investing LLC now owns 137 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in UFP Technologies by 67.5% in the second quarter. EverSource Wealth Advisors LLC now owns 201 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 81 shares in the last quarter. KBC Group NV boosted its holdings in UFP Technologies by 42.4% in the third quarter. KBC Group NV now owns 272 shares of the industrial products company’s stock valued at $86,000 after acquiring an additional 81 shares in the last quarter. Finally, Arete Wealth Advisors LLC boosted its holdings in UFP Technologies by 10.9% in the third quarter. Arete Wealth Advisors LLC now owns 909 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 89 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

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.