UFP Technologies (NASDAQ:UFPT) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

UFP Technologies, Inc. (NASDAQ:UFPT)’s stock price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $251.86 and traded as high as $298.50. UFP Technologies shares last traded at $294.29, with a volume of 99,837 shares.

Analyst Ratings Changes

A number of research firms recently issued reports on UFPT. Wall Street Zen upgraded UFP Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, UFP Technologies currently has a consensus rating of “Hold”.

UFP Technologies Price Performance

The company has a 50-day simple moving average of $297.16 and a 200-day simple moving average of $252.59. The stock has a market cap of $2.30 billion, a PE ratio of 32.02 and a beta of 1.04. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.00 and a quick ratio of 1.72.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.31 by $0.61. UFP Technologies had a return on equity of 18.42% and a net margin of 11.45%. The business had revenue of $173.96 million for the quarter, compared to analyst estimates of $159.38 million. Sell-side analysts anticipate that UFP Technologies, Inc. will post 10.54 EPS for the current fiscal year.

Insider Activity at UFP Technologies

In other news, Chairman R. Bailly sold 10,682 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $318.63, for a total transaction of $3,403,605.66. Following the completion of the sale, the chairman directly owned 18,024 shares of the company’s stock, valued at $5,742,987.12. The trade was a 37.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marc Kozin sold 7,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $304.50, for a total value of $2,131,500.00. Following the sale, the director owned 21,112 shares of the company’s stock, valued at $6,428,604. This represents a 24.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 25,919 shares of company stock valued at $8,173,084. Insiders own 4.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Silvant Capital Management LLC bought a new position in shares of UFP Technologies during the second quarter worth about $29,000. Transamerica Financial Advisors LLC bought a new stake in UFP Technologies in the 2nd quarter valued at about $32,000. Integrated Wealth Concepts LLC bought a new stake in UFP Technologies in the 2nd quarter valued at about $41,000. Versant Capital Management Inc lifted its position in UFP Technologies by 1,291.7% in the 2nd quarter. Versant Capital Management Inc now owns 167 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 155 shares during the last quarter. Finally, Nykredit A S acquired a new position in UFP Technologies during the 2nd quarter valued at about $126,000. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

UFP Technologies Company Profile

UFP Technologies, Inc (NASDAQ: UFPT) is a designer and manufacturer of custom-engineered components, subassemblies and complete systems used primarily in the medical device industry. The company works with medical device manufacturers to develop solutions for applications such as minimally invasive surgery, orthopedics, cardiovascular care, wound care, drug delivery and patient monitoring.

Its capabilities include materials selection, product design and development, precision converting, molding, thermoforming, assembly and packaging.