UFP Technologies (NASDAQ:UFPT) Shares Gap Up on Earnings Beat

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $240.94, but opened at $255.00. UFP Technologies shares last traded at $257.85, with a volume of 15,176 shares trading hands.

The industrial products company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.45. The company had revenue of $144.07 million during the quarter, compared to analyst estimates of $141.67 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On UFP Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UFPT. Arete Wealth Advisors LLC lifted its stake in shares of UFP Technologies by 5.4% during the 4th quarter. Arete Wealth Advisors LLC now owns 958 shares of the industrial products company’s stock valued at $233,000 after buying an additional 49 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of UFP Technologies by 1.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 4,256 shares of the industrial products company’s stock worth $1,041,000 after acquiring an additional 52 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of UFP Technologies by 24.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 66 shares during the period. Anchor Capital Advisors LLC grew its position in shares of UFP Technologies by 1.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 4,532 shares of the industrial products company’s stock valued at $1,108,000 after purchasing an additional 69 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of UFP Technologies by 1.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 5,870 shares of the industrial products company’s stock valued at $1,435,000 after purchasing an additional 70 shares during the period. Institutional investors own 87.28% of the company’s stock.

UFP Technologies Price Performance

The business has a fifty day moving average of $257.99 and a 200-day moving average of $291.40. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.81 billion, a PE ratio of 33.66 and a beta of 1.04.

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.