Contravisory Investment Management Inc. Makes New $224,000 Investment in UFP Technologies, Inc. (NASDAQ:UFPT)

Contravisory Investment Management Inc. purchased a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 708 shares of the industrial products company’s stock, valued at approximately $224,000.

A number of other hedge funds have also recently made changes to their positions in UFPT. Congress Asset Management Co. MA raised its position in UFP Technologies by 174.1% in the 1st quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company’s stock worth $46,893,000 after purchasing an additional 118,106 shares during the period. Swedbank AB purchased a new position in shares of UFP Technologies in the first quarter worth about $25,220,000. Price T Rowe Associates Inc. MD increased its holdings in shares of UFP Technologies by 2,331.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock worth $10,879,000 after buying an additional 41,360 shares during the period. Lord Abbett & CO. LLC boosted its holdings in UFP Technologies by 83.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock valued at $18,791,000 after acquiring an additional 33,806 shares during the period. Finally, Norden Group LLC grew its position in UFP Technologies by 1,464.8% during the 1st quarter. Norden Group LLC now owns 31,405 shares of the industrial products company’s stock worth $7,920,000 after acquiring an additional 29,398 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors.

Insider Activity at UFP Technologies

In other UFP Technologies news, CFO Ronald J. Lataille sold 11,466 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the transaction, the chief financial officer now directly owns 46,130 shares of the company’s stock, valued at approximately $13,915,114.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other UFP Technologies news, CFO Ronald J. Lataille sold 11,466 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the transaction, the chief financial officer now owns 46,130 shares in the company, valued at approximately $13,915,114.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronald J. Lataille sold 2,392 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $329.04, for a total value of $787,063.68. Following the completion of the transaction, the chief financial officer now directly owns 38,940 shares of the company’s stock, valued at $12,812,817.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,134 shares of company stock worth $21,494,247 over the last quarter. 6.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Lake Street Capital boosted their price objective on UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th.

UFP Technologies Price Performance

UFPT stock opened at $312.76 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $319.34 and its two-hundred day moving average price is $282.67. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 50.28 and a beta of 0.93. UFP Technologies, Inc. has a 12-month low of $127.29 and a 12-month high of $366.41.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.86 EPS for the quarter. UFP Technologies had a return on equity of 17.53% and a net margin of 11.87%. The business had revenue of $110.18 million during the quarter.

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.