Raymond James Begins Coverage on UFP Technologies (NASDAQ:UFPT)

Equities researchers at Raymond James started coverage on shares of UFP Technologies (NASDAQ:UFPT) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a “market perform” rating on the industrial products company’s stock.

Separately, StockNews.com lowered shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd.

UFP Technologies Price Performance

UFP Technologies stock opened at $203.23 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. UFP Technologies has a 12-month low of $198.10 and a 12-month high of $366.41. The firm has a market capitalization of $1.56 billion, a PE ratio of 28.99 and a beta of 1.15. The firm has a 50-day moving average price of $243.26 and a 200-day moving average price of $274.64.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.45. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%. The company had revenue of $144.07 million during the quarter, compared to analysts’ expectations of $141.67 million.

Insider Transactions at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the transaction, the director now directly owns 1,785 shares in the company, valued at approximately $407,711.85. This trade represents a 79.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.17% of the company’s stock.

Institutional Trading of UFP Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP lifted its stake in shares of UFP Technologies by 37.1% during the 4th quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company’s stock worth $141,007,000 after purchasing an additional 156,142 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of UFP Technologies by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company’s stock worth $136,309,000 after acquiring an additional 17,356 shares in the last quarter. State Street Corp lifted its position in UFP Technologies by 1.4% during the third quarter. State Street Corp now owns 283,460 shares of the industrial products company’s stock valued at $89,772,000 after acquiring an additional 4,007 shares during the last quarter. Congress Asset Management Co. boosted its stake in UFP Technologies by 14.2% in the fourth quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock valued at $68,787,000 after acquiring an additional 35,022 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in UFP Technologies by 55.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company’s stock valued at $43,625,000 after acquiring an additional 63,899 shares in the last quarter. Institutional investors own 87.28% of the company’s stock.

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.