UFP Technologies (NASDAQ:UFPT) Releases Earnings Results, Beats Estimates By $0.17 EPS

UFP Technologies (NASDAQ:UFPT) posted its quarterly earnings results on Monday. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.17, Zacks reports. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%.The firm had revenue of $154.56 million for the quarter, compared to analyst estimates of $149.56 million. The firm’s revenue was up 6.5% compared to the same quarter last year.

UFP Technologies Price Performance

NASDAQ UFPT opened at $220.55 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.77 and a quick ratio of 1.53. UFP Technologies has a fifty-two week low of $178.26 and a fifty-two week high of $354.22. The firm has a market cap of $1.70 billion, a P/E ratio of 25.56 and a beta of 1.16. The stock’s 50-day moving average is $200.09 and its two-hundred day moving average is $220.28.

Analysts Set New Price Targets

UFPT has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Technologies in a report on Wednesday, October 8th. Lake Street Capital upped their price objective on shares of UFP Technologies from $252.00 to $289.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $289.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of UFP Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company’s stock valued at $873,000 after purchasing an additional 190 shares during the last quarter. Millennium Management LLC lifted its holdings in UFP Technologies by 123.1% in the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock valued at $18,915,000 after buying an additional 51,741 shares during the period. Jones Financial Companies Lllp bought a new position in UFP Technologies in the first quarter valued at approximately $172,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in UFP Technologies by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,856 shares of the industrial products company’s stock worth $2,593,000 after acquiring an additional 1,327 shares during the period. Finally, Jane Street Group LLC grew its holdings in UFP Technologies by 383.0% during the 1st quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company’s stock worth $4,761,000 after acquiring an additional 18,718 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Company Profile

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.