StockNews.com Downgrades UFP Technologies (NASDAQ:UFPT) to Sell

StockNews.com lowered shares of UFP Technologies (NASDAQ:UFPT) from a hold rating to a sell rating in a report issued on Thursday morning.

UFP Technologies Price Performance

Shares of NASDAQ UFPT opened at $262.51 on Thursday. 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 has a 50-day moving average of $271.79 and a 200-day moving average of $299.54. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 37.45 and a beta of 1.04. UFP Technologies has a fifty-two week low of $157.08 and a fifty-two week high of $366.41.

Insiders Place Their Bets

In other UFP Technologies news, VP Jason Holt sold 146 shares of the 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 sale, the vice president now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO R Jeffrey Bailly sold 12,533 shares of UFP Technologies stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 13,326 shares of company stock valued at $4,620,154 in the last 90 days. 6.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UFP Technologies

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP increased its position in UFP Technologies by 65.4% during the third quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock worth $133,188,000 after buying an additional 166,262 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of UFP Technologies by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,304 shares of the industrial products company’s stock worth $9,610,000 after acquiring an additional 30,372 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in UFP Technologies in the 3rd quarter valued at $9,791,000. Franklin Resources Inc. lifted its holdings in UFP Technologies by 39.4% during the 3rd quarter. Franklin Resources Inc. now owns 92,053 shares of the industrial products company’s stock valued at $28,904,000 after purchasing an additional 26,001 shares during the last quarter. Finally, Swedbank AB boosted its position in UFP Technologies by 33.3% during the fourth quarter. Swedbank AB now owns 80,000 shares of the industrial products company’s stock worth $19,561,000 after purchasing an additional 20,000 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

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.