UFP Technologies (NASDAQ:UFPT) Trading Down 7.2% – What’s Next?

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) dropped 7.2% on Friday . The stock traded as low as $263.23 and last traded at $259.73. Approximately 40,081 shares were traded during trading, a decline of 59% from the average daily volume of 97,811 shares. The stock had previously closed at $279.94.

Analyst Ratings Changes

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

UFP Technologies Trading Down 6.6 %

The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 37.28 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. The company has a 50 day moving average price of $265.06 and a 200 day moving average price of $296.99.

Insider Activity

In other UFP Technologies news, CEO R Jeffrey Bailly sold 12,533 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $346.46, for a total value of $4,342,183.18. Following the completion of the transaction, the chief executive officer now owns 31,194 shares in the company, valued at $10,807,473.24. The trade was a 28.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jason Holt sold 146 shares of UFP Technologies stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $342.69, for a total value of $50,032.74. Following the completion of the transaction, the vice president now owns 6,721 shares of the company’s stock, valued at approximately $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. Insiders own 6.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its holdings in shares of UFP Technologies by 65.4% in the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock valued at $133,188,000 after purchasing an additional 166,262 shares in the last quarter. State Street Corp raised its stake in UFP Technologies by 1.4% in the third quarter. State Street Corp now owns 283,460 shares of the industrial products company’s stock valued at $89,772,000 after buying an additional 4,007 shares in the last quarter. Congress Asset Management Co. lifted its holdings in UFP Technologies by 14.2% during the 4th quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock worth $68,787,000 after buying an additional 35,022 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of UFP Technologies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 172,996 shares of the industrial products company’s stock valued at $54,799,000 after acquiring an additional 3,333 shares during the last quarter. Finally, Boston Trust Walden Corp acquired a new position in UFP Technologies in the fourth quarter valued at approximately $26,395,000. Hedge funds and other 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.